It’s Probably Nothing

9 Replies to “It’s Probably Nothing”

1. Maybe the uber-rich have realized how foolish they look to the rest of the world when blowing that kind of cash on what’s basically a wall ornament.
   Personally, I wouldn’t pay $5 for Picasso’s Tete de Femme.

2. … and how many times in history have art prices tumbled … only to rebound to new RECORD-setting prices ? If I am not mistaken, the deepest pocketed art buyers are the Chinese and Middle-Eastern oil Sheiks. I think we all fully well understand why this current downturn is occurring. And all us common people are THRILLED that we can fill our tanks for less than $ 100.00

3. These same autioneers are holding vintage car auctions and getting astronomical prices for collector cars. How does that fit in the equation?

4. Good thing I diversified my portfolio with Faberge eggs.

5. Auction business booming in have-notley land.
   Massive Alberta equipment sell-off

6. Have-notley. Good one. I’m going to steal that.

7. The value is the same. It is the price that is dropping.

8. I read a book called “Hot Art”. Pretty interesting book. It basically describes how the art market is used by organized crime or simply the very wealthy to move money internationally easily.
   If you think about it if you need to move a large sum of money across borders almost everything is documented. Car, houses pretty much everything has lots of rules and regulations around it. Artwork, as long as you have some proof of ownership, you can cross any border you like with it.
   Maybe this drop in the art market is somehow related to less money in the Middle-East and Asia. China has been cracking down on corrupt officials and governments in the Middle-East have much less money are are more careful too.
   That could explain the decline in demand and the decline in price.

9. A member of a group I belong to wrote the other morning – My computer is working this morning- the only thing in Calgary !