The Storm Hits the Art Market
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The Storm Hits the Art Market
1–10 of 221 posts
Re: The Storm Hits the Art Market
#2Seems like a low interest rate phenomenon
Re: The Storm Hits the Art Market
#3That Kristina Reischl image looks a lot like stone toss comics for some reason
Re: The Storm Hits the Art Market
#4Isn’t the money being invested in crypto instead? Rich people might prefer others better ways to protect their assets than the current art market
Re: The Storm Hits the Art Market
#5> The question is how to “get people to understand that art isn’t an asset class,” Schwartzmann added. “That’s not how you should be collecting,”
> Valentine said ... "Asking $20,000 for a work in an artist’s first show is unsustainable"
none of the separate participants in this article are willing to acknowledge that these are related problems.
there is no price discovery in the art world, and it was only just beginning to happen in the pandemic era flush with cash
when you question the price or try to find any rational trend, the gallery director gaslights you into the prior quote "you should just love the piece!" okay but why should I love it at this price "because it will be another price in the future!" but why will it be another price who sets that price "we the gallery do! it moves up over time!" how does that work "you should just love the piece!"
Re: The Storm Hits the Art Market
#6Isn’t the money being invested in crypto instead? Rich people might prefer others better ways to protect their assets than the current art market
from the article "Now that the bubble has burst, the speculators are out of the picture, off flipping meme coins, where no one makes them feel inadequate or insists that they buy three things they don’t want to get the one thing they do."
Re: The Storm Hits the Art Market
#7This is really the art as speculation fad coming home to roost. The people actually interested in art as art are now on things like Instagram buying direct from the artists with very little gatekeeping either by art schools or galleries.
It would be tempting to see if there is a correlation in when the “legit” art world price going off a cliff and the NFT bubble, because that suckered in a lot of the idiot end of the speculator crowd.
Re: The Storm Hits the Art Market
#8This is really the art as speculation fad coming home to roost. The people actually interested in art as art are now on things like Instagram buying direct from the artists with very little gatekeeping either by art schools or galleries. It would be tempting to see if there is a correlation in when the “legit” art world price going off a cliff and the NFT bubble, because that suckered in a lot of the idiot end of the…
It's speculation, but tax avoidance too:
https://naturalist.gallery/blogs/journal/understanding-the-f...
Re: The Storm Hits the Art Market
#9The vanity of owning rare things is all too much... NFTs are really the culmination of the phenomenon. I'm all for owning beautiful things and paying if it's something handmade. But once it becomes such an extreme out of wack status symbol kept alive by a global elite it's just feeding the monster. The worst is when it's an expensive status symbol and still mass produced I suppose
Re: The Storm Hits the Art Market
#10How much of this is due to anti-money laundering regulations enacted in the early 2020s [0], which much better vet the identities of the buyers/sellers?
[0] https://www.lseg.com/en/risk-intelligence/financial-crime-ri...