Tuesday, February 8, 2011

Is the art market entering a new age of volatility?

Outwardly, the art market looks the picture of perfect health. But ARTINFO asks whether it is all as rosy as it seems. "Some analysts believe that the increasing readiness of investors - rather than art lovers - to sink money into art are turbo-charging a boom that might lead to busts. In its latest analysis of the contemporary art market, London-based art market research firm ArtTactic warns that this bull market trend could go on for some time, supported by China's rising class of super-wealthy, but eventually the bubble will burst, as it did in Japan in the early 90s and the global art market crash in 2008." Read more...
Image: David Hockney's Hotel L'abois Sainte-Maxime at Sotheby's Auction House in London, estimated to reach $2.3 million