How Is the Art Market Really Doing?

BloombergBusiness | James Tarmy:

If you’ve been paying attention to auction coverage recently, the outlook seems grim: The value of artworks on offer has plummeted, volume and totals are down significantly, and various news organizations (including this one) have sounded ominous warnings of an imminent market decline. But all of this is drawn from a tiny sliver of the art market… Read more

Image: Tête de femme (1935) by Pablo Picasso, which reportedly sold at a loss at Sotheby’s in London.

Photographer: Emmanuel Dunand/AFP via Getty Images