Has the Art Market Entered a Bubble?
As the global economy continues to recover from the crisis of 2008, no sector has rebounded faster than art. With each new auction season, headlines trumpet fresh record sales totals and price tags well above $100 million. “Pundits warn that the market has entered a bubble that will soon be punctured, burning collectors.”[1] But the picture is more complex, incorporating a range of factors, from shifts in the global distribution of wealth to a generational change in taste.
[1] Original 2015 Blouin Creative Leadership Summit panel abstract.