4 ms·

What happens to the collections...

trhway 6y ago
the same as with other assets - we're entering the greatest wealth redistribution (it would for example definitely beat the one triggered by 2008). The smaller and more vulnerable get distressed, and are going to be scooped up on the cheap by the big ones who have access to liquidity.
- simongr3dal 6y ago
  It is certainly gonna be a change in distribution, but I would call that a consolidation.
- nordsieck 6y ago
  > we're entering the greatest wealth redistribution I can confidently say: this is nothing compared to the fall of the USSR or the aftermath of the Plague.
  - Retric 6y ago
    Plague was in a vastly poorer world. Fall of USSR was not a global event. So, it really depends on what you’re measuring, but I don’t think their clearly ahead when we don’t know the full details for COVID.
  - nabla9 6y ago
    I saw BBC article having title "How the Black Death made the rich richer" https://www.bbc.com/worklife/article/20200701-how-the-black-death-make-the-rich-richer https://www.bbc.com/worklife/article/20200701-how-the-black-... But what I remember from economic history and what the article actually says is mostly opposite. >Before the plague erupted, several centuries of population growth had produced a labour surplus, which was abruptly replaced with a labour shortage when many serfs and free peasants died. Historians have argued that this labour shortage allowed those peasants that survived the pandemic to demand better pay or to seek employment elsewhere. Despite government resistance, serfdom and the feudal system itself were ultimately eroded. This was the main effect of the plague. The wealth concentration BBC talks about affected much fewer people. This time the same is not going to happens because covid just increases demand for automation.
    - juniper_strong 6y ago
      This time the same is not going to happen because the plague killed ~50% of the population in Europe over a four year period, while covid won't kill even 1%, with most of the covid deaths being among retirees. If 50% of working age people died, both wages and automation would increase.
- jb775 6y ago
  Why do you say we're entering the greatest wealth redistribution? Are you saying corona triggered something new or that it was already in progress?
Spooky23 6y ago
Some crony will buy them up at a discount.
dhosek 6y ago
The article gives at least one explanation of this—the museum was legally obligated to distribute the collection to other museums, non-profits and educational institutions.
pmiller2 6y ago
Every museum has its own deaccession process. I would expect that small or partial liquidations would follow that process. More significant liquidations might have a different process due to the volume of pieces. I would expect most of these liquidations to be via public auction.

the same as with other assets - we're entering the greatest wealth redistribution (it would for example definitely beat the one triggered by 2008). The smaller and more vulnerable get distressed, and are going to be scooped up on the cheap by the big ones who have access to liquidity.

simongr3dal 6y ago
It is certainly gonna be a change in distribution, but I would call that a consolidation.
nordsieck 6y ago
> we're entering the greatest wealth redistribution I can confidently say: this is nothing compared to the fall of the USSR or the aftermath of the Plague.
- Retric 6y ago
  Plague was in a vastly poorer world. Fall of USSR was not a global event. So, it really depends on what you’re measuring, but I don’t think their clearly ahead when we don’t know the full details for COVID.
- nabla9 6y ago
  I saw BBC article having title "How the Black Death made the rich richer" https://www.bbc.com/worklife/article/20200701-how-the-black-death-make-the-rich-richer https://www.bbc.com/worklife/article/20200701-how-the-black-... But what I remember from economic history and what the article actually says is mostly opposite. >Before the plague erupted, several centuries of population growth had produced a labour surplus, which was abruptly replaced with a labour shortage when many serfs and free peasants died. Historians have argued that this labour shortage allowed those peasants that survived the pandemic to demand better pay or to seek employment elsewhere. Despite government resistance, serfdom and the feudal system itself were ultimately eroded. This was the main effect of the plague. The wealth concentration BBC talks about affected much fewer people. This time the same is not going to happens because covid just increases demand for automation.
  - juniper_strong 6y ago
    This time the same is not going to happen because the plague killed ~50% of the population in Europe over a four year period, while covid won't kill even 1%, with most of the covid deaths being among retirees. If 50% of working age people died, both wages and automation would increase.
jb775 6y ago
Why do you say we're entering the greatest wealth redistribution? Are you saying corona triggered something new or that it was already in progress?

Spooky23 6y ago

Some crony will buy them up at a discount.

dhosek 6y ago

The article gives at least one explanation of this—the museum was legally obligated to distribute the collection to other museums, non-profits and educational institutions.

pmiller2 6y ago

Every museum has its own deaccession process. I would expect that small or partial liquidations would follow that process. More significant liquidations might have a different process due to the volume of pieces. I would expect most of these liquidations to be via public auction.