THE ART MARKET, REDUX
Here’s what’s been going on in the Picasso market, in broad brushstrokes, and as I see it. A number of collectors have sat on the sidelines while waiting for the art market to crash and compelling bargains to appear. Well, many prices have come down, and there have been occasional bargains. But the bottom hasn’t yet fallen out of the market. Instead, the major change that has occurred has been on the seller’s side. Sellers with whom I regularly jawbone have held their prices steady or have modestly reduced them, on the theory that it would be a mistake to let wonderful things go for nothing when the economy is sure to turn around. The effect of the market upon […]
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