Good riddance. Collecting art is yet another way for the ultra rich to avoid taxation. It's a complete and utter farce.
The Storm Hits the Art Market
141–150 of 221 posts
Re: The Storm Hits the Art Market
#142> Another revealing indicator: Soho Art Materials, a popular art-supplies company in New York that works with artists and galleries, traces the sector’s decline to the summer of 2022. The firm’s sales began falling gradually and then in June 2023 dropped 20 percent from the previous month, according to Jonathan Siegel, a co-owner. The company was stretching 700 to 1,000 canvases annually for three years, starting in…
It's a stretch. Basically the speculators moved into NFTs, which scratched the gambling itch, and NFTs and other forms of crypto made money laundering much more straightforward. The art part of the market - in the sense of original creativity that means something to someone - had become a footnote. And large parts of it were more about performance than craft. So resale values collapsed, and now everyone is walking th…
The quote is about art supplies, not speculation.
Re: The Storm Hits the Art Market
#143Earlier quoted context omitted.
I have been following: https://www.instagram.com/piperbangs/ https://www.instagram.com/lauren.krasnoff/ https://www.instagram.com/artcarolinegaudreault/ https://www.instagram.com/gretchen_scherer/ https://www.instagram.com/jakeclarkjakeclark/ https://www.instagram.com/hilary_pecis/ And curating: https://www.instagram.com/carriescottcurates/ https://www.instagram.com/mary_lynn_buchanan/
I had a quick look at these instagram links and except for the last two, they do not feel like 'Art', just like most novels are not considered literature. In the past years, I have visited a lot of art exhibitions (at museums and art galleries) and graduation shows of art schools here in the Netherlands. See: https://iwriteiam.nl/Exhibitions.html Even at those, I feel that a lot is crap, too conceptual. But there alw…
Let me add something to this. If you buy a painting (or some other work of art) because it is captivating you, and you put it into your house, to enjoy, than that is great. I myself have bought some works of art, that are not be considered as 'Art', but that captivated me. For me that is the only reason to buy some work of art, if it captivates me, not if is a good investment.
Re: The Storm Hits the Art Market
#144I'm amazed that the article doesn't discuss the end of ZIRP. The bursting of the art market bubble in mid 2022 coincides exactly with when interest rates started rising following the 'transitory' inflation caused by pandemic relief measures. This was also the same time that we started seeing hiring freezes in tech, the bursting of the luxury watch bubble, etc. It's all tied together, and has the same root cause: It s…
> I'm amazed that the article doesn't discuss the end of ZIRP. I'm not sure this particular phenomenon can be explained this way. For example, antiques auctions are doing quite well, with prices rising quite briskly year after year. There's still plenty of money chasing the kinds of long-term investments you can hold in your hand, put on a shelf, and show to your friends. Jewelry sales are doing fine too. There are o…
I do wonder if one of those reasons is that the general sentiment of the public is moving beyond contempt and towards sharp objects not dissimilar to how friends across the channel tended to handle things.
Re: The Storm Hits the Art Market
#145Earlier quoted context omitted.
Any good account suggestions?
There are myriad accounts. Who you follow is taste specific, you need to do your own work. Mine are exclusively on Twitter and I mostly found them by randomly clicking through art things on Twitter. My tastes in art cover a very broad spectrum. Gotta both explore and curate the feed. My favorite piece acquired in the last few months is Olivier Neuray’s “L’Empire des Lumières”. Not everyone is going to appreciate it.
That's actually great! This comment thread is such a breath of fresh air. We moved this year to a new place and was looking at art, and I had the feeling that art also became some sort of mass produced low cost product, and I wanted to look into smaller artists and original pieces. Loved the works of the artist you mentioned as well as some of the other ones mentioned above.
Re: The Storm Hits the Art Market
#146Earlier quoted context omitted.
It's not a "conflict" and there will not be a peaceful resolution of it.
Of course it's a conflict. Every war is a conflict.
Roman Empire, or Genghis Khan, or Nazi Germany did not have a "conflict" with neighbors, some kind of quarrel that can end in a compromise. They had a desire to conquer, subdue, and consume the neighbors. There could be no resolution beside a complete capitulation and becoming annexed.
Russia is currently acting in this mode. There can be no "resolution", only a devastating military defeat of one of the sides.
Re: The Storm Hits the Art Market
#147Earlier quoted context omitted.
It's speculation, but tax avoidance too: https://naturalist.gallery/blogs/journal/understanding-the-f...
And money laundering… don’t forget the money laundering
Personally I bid for the gasps, fainting and eventual standing ovation at the end of the auction along with the knowing nod and smile from someone who says indubitably a lot.
Re: The Storm Hits the Art Market
#148Earlier quoted context omitted.
Nah, man. I work in the space and I was there. NFTs were the second attempt on an earlier idea that had already been discarded as pointless: supply chain management. The problem with NFTs was the same as with supply chains; there's no link between the blockchain and IRL, so the blockchain doesn't really add anything, just makes things more complicated. NFTs were therefore a tool to part fools from their money right f…
NFTs make more sense as digital signatures.
pgp keys already took care of that 35 years ago
Re: The Storm Hits the Art Market
#149The best evidence that art was going to crash is when Masterworks ads were everywhere. You know the bubble is stretched to its limit when they start hawking it to retail. "I've got an exciting bag-holding opportunity that you don't want to miss."
"I've got some sellers who know the market well, bought in early and want to get out - oportunity of a lifetime for you"
Re: The Storm Hits the Art Market
#150Earlier quoted context omitted.
The public is not conscious of how big of a deal the war in Ukraine is.
> The public is not conscious of how big of a deal the war in Ukraine is. My sincerest desire is that there’s a peaceful resolution to this conflict before they’re forced to realize it.
The only peaceful resolution is Russia accepting the sovereignty and territorial integrity of its neighbors.
Otherwise there will be no peace, just oppression and torture of the occupied population. And more war down the line, when Russia feels it can take another bite.