How the Brexit vote is inconveniencing rich art buyers

YAHOO |  Melody Hahm:

The United Kingdom votes this week on whether to stay in the European Union, and equity and forex investors are worried about the effect of a so-called Brexit (British Exit) on the markets.
But the Brexit could have could have legitimate implications for a more niche interest group: art collectors. “In periods of market uncertainty, we tend to see collectors seek out well known blue chip names over younger, more emerging artists, as these are seen to be stronger investments and less risky,” says Jacqueline Towers-Perkins, a specialist in post-war and contemporary art at artnet auctions. “So that could be something to bear in mind with these potential changes happening.”… Read more

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