According to the first paragraph of Kelly Crow’s article in The Wall Street Journal: The art market appears to be entering its cooling-off period. For the past six years, an influx of newly wealthy collectors—particularly from China—has pushed up prices for everything from Ming vases to Claude Monet, but now there are signs that the bidding paddles could come down hard.
I do enjoy reading all of these predictions about the art market. It wasn’t that long ago when nobody paid attention to it; now, with all the huge prices being achieved everyone wants to be in the action and grab a piece of it.
We all know certain segments have seen unbelievable price appreciation and that there will be a day of reckoning for some of the artists; however, over the long run good art has done well. I have always been one to believe that you buy art because you want to own it, not because you want to make money. Nobody knows where the market for an artist will be next year (let alone 10 years from now). What we do know, is that if you buy a work of art because you love it, you will receive years of enjoyment from it … and that is what it is all about — happy hunting!
If you would like to read Kelly Crow’s thoughts, click HERE.
A Widespread Chill in Art Sales? Only Time Will Tell.
According to the first paragraph of Kelly Crow’s article in The Wall Street Journal: The art market appears to be entering its cooling-off period. For the past six years, an influx of newly wealthy collectors—particularly from China—has pushed up prices for everything from Ming vases to Claude Monet, but now there are signs that the bidding paddles could come down hard.
I do enjoy reading all of these predictions about the art market. It wasn’t that long ago when nobody paid attention to it; now, with all the huge prices being achieved everyone wants to be in the action and grab a piece of it.
We all know certain segments have seen unbelievable price appreciation and that there will be a day of reckoning for some of the artists; however, over the long run good art has done well. I have always been one to believe that you buy art because you want to own it, not because you want to make money. Nobody knows where the market for an artist will be next year (let alone 10 years from now). What we do know, is that if you buy a work of art because you love it, you will receive years of enjoyment from it … and that is what it is all about — happy hunting!
If you would like to read Kelly Crow’s thoughts, click HERE.