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"the old masters market is contracting, because of limited supply" Can someone familiar with the art market comment on how that works? That seems contrary to w
by mynegation 9y ago
"the old masters market is contracting, because of limited supply"
Can someone familiar with the art market comment on how that works? That seems contrary to what I know about markets. I mean, I understand that the volume is contracting, but the context is that such "[high] price is remarkable".
- evgen 9y agoThere are never going to be any new old masters and because shit happens the supply is slowly shrinking over time as various works leave the market due to museum acquisition, accident, war, and theft. The demand side of the equation however is growing as various new money entrants to the art market compete for this diminishing supply. The demand side is also boosted by the fact that art like this has now become something of a financial tool for capital flight, corporations, investment funds and criminal interests.