With Financial Crisis a Distant Memory and as Art Market Booms, Some See the Risk of Bust

LONDON (REUTERS).- At the top end of the art market, the financial crisis seems a distant memory — surging prices saw Christie’s and Sotheby’s post impressive 2010 results that were back to, or above pre-crisis levels. Yet while the market leaders are confident the recovery from 2009’s deep slump can be sustained, the prospect of speculative money pouring into art, driven partly by rich Chinese investors, increases the risk of boom and bust, some analysts believe. “This bull market trend could go on for some time, supported by China’s rising class of super-wealthy, but eventually the bubble will burst, as it did in Japan in the early 90s and the global art market crash in 2008,” ArtTactic said in its latest analysis of the contemporary art market. “Too much speculative money

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