Art BusinessOpinion

The end of artnetification?

Dealers may dislike them, but art databases like Artnet and Artprice have made the art market far more transparent. To a certain extent, they empowered buyers in a similar way that Bloomberg empowered buy side debt investors. Although it is not worth taking that metaphor too far; Bloomberg can tell you …

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Art BusinessOpinion

It’s time to celebrate!

Crack open the champagne and party. Claire McAndrew’s annual TEFAF Art Market Report says that 2014 was the best ever year for art sales with Eu51 billion ($70 billion, at 2014 rates) in sales, up 7% on 2013, and above the previous record of Eu48 billion ($65 billion) in 2007. …

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Art FundsOpinion

Art funds vs Sewers

It has become fashionable to knock art funds. Critics point to the many funds that have failed to launch; the structural reasons why art is a bad asset class; and argue that the art funds are overhyped. The first argument forgets that very few hedge funds make it to launch. …

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Art LawOpinion

Gambling with Cardsharps

Running an auction house is not easy. If someone approached you to invest in a business that would start each year with very little idea about what it would sell you would be dubious. And any business which relies on expert judgement caries big risks (Standard & Poor’s $1.8 billion …

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Art LawOpinion

Law and order

A few weeks ago the Foundation for Le Droit De L’Art organised a good one day event looking at Risk, Rules and Opportunities in Art Investment. As you would expect from a meeting of an Art and Law Society there was lots of discussion about regulation. And very little agreement. …

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