Posts Tagged ‘art market’

“Recovery” of the Art Market?

Saturday, May 22nd, 2010

“Signs Emerge of Recovery for Art Sales” shouted a headline in the April 20, 2010 issue of the International Herald Tribune. By way of contrast, pages 70-72 of Mood Matters argue that art sales will be a big-time loser as the overall global social mood deepens. Since this story seems to undermine that claim, it’s worth digging into it a bit deeper to see what is really going on.

After quoting sources like Philip Hoffman, head of the Fine Art Group Fund, and the head of Castlestone Management, a fund that specializes in art investment for well-heeled clients about the prospects for the art market (which is tantamount to asking the foxes if they thought chickens were a good investment), the article slips-in the very revealing quote from Castlestone that “equities is considered to be a key indicator when analyzing trends in the art market.” A socionomist would read this as: The art market can be expected to rise as the social mood increases, and then decline as people start fearing the future again.

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