Art prices will drop by 40 percent this year as speculators leave market
- Thread starter ByLoSellHi
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Quote from nazzdack:
It should drop farther than that because a lot of that "stuff" is more illiquid than toxic debt.
A lot of size is held by guys who are in trouble with other investments as well. Ala' Steve Wynn and Norman Braman. OTOH, in a world of $850 gold there's some who view a Monet as store of wealth after impending global currency devaluation.......
they just had the barrett jackson clsssic car auction last weekend. that kind of "art" is still bringing good money.
Glad this is happening, for years all I read was how collectors would pay top dollars for "priceless" art work, now even this is falling apart like everything else, doenst amaze me at all, imagine the art that was bought over the last 3-5 years, they are lucky now to get what they paid for it.
don't short art. Remember marketsurfer says trends don't exist.
By the way Over the holidays I was on St. Armands circle in Sarasota - went into the art shop. Its hard to call it a gallery.
Prices on some of the art was nicely discounted.
Of course you could not have predicted further price drops on art because trends do not exist.
By the way Over the holidays I was on St. Armands circle in Sarasota - went into the art shop. Its hard to call it a gallery.
Prices on some of the art was nicely discounted.
Of course you could not have predicted further price drops on art because trends do not exist.