Crash-Proof: 3 Tips on How to Stay Ahead of the Art Market During a Recession
Don’t be afraid to sell a masterpiece, look at the middle market, and more advice for cashing in on art when the stock market is falling.
Tim Schneider, April 8, 2019
Nothing gold can stay, and every art-industry veteran understands that the good times don’t last forever.
Beneath the big-money rumblings of last November’s New York auctions—a bellwether slate of sales unfolding just a few weeks after the 10-year anniversary of the Great Recession dredged up memories of titanic losses—it wasn’t hard to hear a consistent, if sotto voce, stream of concern about a looming market downturn. The chatter only grew louder after several of the week’s marquee lots were greeted by lackluster demand or failed to find buyers entirely, dimming sentiment on the decent yet somewhat uninspiring overall results—and perhaps on the market’s prospects as a whole in 2019.