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The Storm Hits the Art Market

news.artnet.com

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Re: The Storm Hits the Art Market

#191

Post by 4ggr0 »

jajko wrote: post #152
nine_k wrote: post #146

Earlier quoted context omitted.

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.

This, so much this. Even many smart folks don't realize this, or refuse to acknowledge since its pretty bleak viewpoint with no bright future. This war won't end just because its getting annoying, or sad, or shocking whats happening. Russia switched fully to war economy, on purpose, there is no easy way back even if they wanted. Their goal is to conquer as much Europe as possible, losing few millions of its sub-citiz…

> how depraved and primitive russian thinking is, think about white heroin addicted trash or common slums folks, [...] and give them huge stockpiles of nuclear weapons.

:s/russian/american/

can we not label whole nationalities as depraved, primitive heroin addicted trash!?!

Re: The Storm Hits the Art Market

#192

Post by EB-Barrington »

jajko wrote: post #152
nine_k wrote: post #146

Earlier quoted context omitted.

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.

This, so much this. Even many smart folks don't realize this, or refuse to acknowledge since its pretty bleak viewpoint with no bright future. This war won't end just because its getting annoying, or sad, or shocking whats happening. Russia switched fully to war economy, on purpose, there is no easy way back even if they wanted. Their goal is to conquer as much Europe as possible, losing few millions of its sub-citiz…

[dead]

Re: The Storm Hits the Art Market

#193

Post by EB-Barrington »

NoOn3 wrote: post #174
esarbe wrote: post #150

Earlier quoted context omitted.

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.

By saying this, you must understand that many more people may die for this purpose, and even yourself.

[dead]

Re: The Storm Hits the Art Market

#194

Post by nerdponx »

qaq wrote: post #114
anonymars wrote: post #94

Earlier quoted context omitted.

Yes and no - 2022 also drastically changed taxation of software development https://www.resourcefulfinancepro.com/news/irs-section-174-c...

Tech firms lobbied this change because they care about EBITA it makes their numbers look better

If there was any lobbying incentive, it would be anticompetitive suppression of smaller companies that can't afford the tax increase.

Re: The Storm Hits the Art Market

#195

Post by throwawayq3423 »

cluckindan wrote: post #135
djtango wrote: post #131

Earlier quoted context omitted.

Someone in the space told me that China were big buyers of art but suddenly they stopped. This could be because of capital controls, financial stress or increasing sense of national pride - take your pick

These aren’t limited to China: - fewer people can afford a home, let alone multiple = less wall space for premium art - it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

> it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

Art was always a favorite way to launder money. This is a good point.

Re: The Storm Hits the Art Market

#196

Post by throwawayq3423 »

NoOn3 wrote: post #174
esarbe wrote: post #150

Earlier quoted context omitted.

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.

By saying this, you must understand that many more people may die for this purpose, and even yourself.

Did you read what he said? You are guaranteeing the war will continue if you reward an invasion with land.

Re: The Storm Hits the Art Market

#197

Post by dreamcompiler »

fluoridation wrote: post #93
dreamcompiler wrote: post #81

Earlier quoted context omitted.

A blockchain is the world's slowest database. The idea that a blockchain could speed up anything is laughable.

Theoretically , if there could be a 1:1 relationship between events in the real world and events on the blockchain, the idea makes sense. If you had two pieces of a machine represented by objects on the blockchain, and when you combined them into a new component that automatically, cryptographically, created a new object on the blockchain, you could track provenance precisely just by having the final assembled produc…

Not to mention companies don't like sharing their supply chain data because they consider it a competitive advantage. Even if they're required to share it by law, many companies are highly motivated to do the tampering you describe.

Re: The Storm Hits the Art Market

#198

Post by boston_clone »

incone123 wrote: post #176
boston_clone wrote: post #144

Earlier quoted context omitted.

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.

I doubt wealthy people are afraid to shop at London galleries or auctions. There are street robberies but they target watches and phones, not so much antiques.

Maybe my comment didn't capture the zeitgeist - it's not that they're afraid of robberies per se, but rather simply living as a wealthy individual in a society with massive inequalities of income has much more social pushback than say, twenty-five years ago.

Re: The Storm Hits the Art Market

#199

Post by _DeadFred_ »

monero-xmr wrote: post #73
CydeWeys wrote: post #58

I'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…

If I was going to buy art as an investment I would only buy the absolute best - old master, Picasso, ancient artifacts with absolutely no question to their authenticity or provenance that would restrict its resale. Collectibles are very tricky. You want to buy something that isn't a fad. Like a movie prop, you'd want to buy the 100% most legendary movie that is timeless, like something from Casablanca, that has been…

When I had that level of friends the ones that collected art very much wanted to be part of a fad with some of their collection. It was the intro to getting to show the rest of their collection off to people. It was the piece that guests would know the artist of, or were able to get excited about when giving the current story.

Re: The Storm Hits the Art Market

#200

Post by solomonb »

cluckindan wrote: post #135
djtango wrote: post #131

Earlier quoted context omitted.

Someone in the space told me that China were big buyers of art but suddenly they stopped. This could be because of capital controls, financial stress or increasing sense of national pride - take your pick

These aren’t limited to China: - fewer people can afford a home, let alone multiple = less wall space for premium art - it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

> - it’s way easier and cheaper to launder money through cryptocurrency casinos than art auctions

Sure art sales can be used to launder money, but that can't be the majority of sales. Doesn't laundering rely on being masked by a larger legitimate cash flow?

I think a much more significant portion of the art market is people speculating on prices and people collecting to look cool. Both of which are highly sensitive to changes in mood and sentiment as described in the section of the article talking about Beth Rudin DeWoody .

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