I predicted a year ago that contemporary art sales would rebound. There was an enormous amount of money standing on the sidelines and people are now putting it into less risky investments. It's a good thing for the market. What has happened is it made people think they can get good value for artists that stand the test of time. It was a great auction of blue-chip artists. With the dollar weakening and inflation soon to hit consumers there's a flight to blue-chip artists and many are turning art into an asset class.
- John Smiroldo
www.antiquesandfineart.com
Only time will tell.
No comments:
Post a Comment