Gallerist Says Two Buyers Are Propping Up Art Auction Market

OBSERVER | Guelda Voien:

A major New York gallerist said some of those things people in the art world think but don’t say aloud: the market is propped by two Asian buyers, the largely politically conservative collecting class is relishing the Trump presidency and market predictions are so hindered by opacity as to be nearly useless.

Andrew Fabricant, director of Richard Gray Gallery, was speaking at a panel for the Douglas Elliman | Knight Frank Wealth Report, which looks at global trends in markets like luxury real estate and fine art and was unveiled last week… Read more

Image: Amedeo Modigliani’s Nu couché (Reclining Nude). Courtesy Christie