> People were buying tulips because it was a sign of wealth and taste and a beautiful rare object to display, just like art. People were speculating on those, j

> People were buying tulips because it was a sign of wealth and taste and a beautiful rare object to display, just like art. People were speculating on those, just like art. But when people do so with Art and pay millions, nobody bats an eye. There have actually been a lot of articles about various art bubbles. Here's one from 2016 about a possible contemporary American art bubble[1]; here's one from 2012 about a Chinese art bubble[2]. [1] https://www.theguardian.com/artanddesign/2016/jan/17/art-market-mania-phase-bubble-report https://www.theguardian.com/artanddesign/2016/jan/17/art-mar... [2] http://www.businessinsider.com/the-chinese-art-bubble-is-popping-2012-6 http://www.businessinsider.com/the-chinese-art-bubble-is-pop...