Inflation fears fuel demand for art

The Wall Street Journal reports that “inflationary fears” and “expectations of higher bonuses in the financial markets” stoked demand for high-end art in major fall auctions:

The mood among collectors grew increasingly upbeat as the two weeks of sales progressed. At Sotheby’s contemporary art sale Wednesday night, a Warhol silkscreen sold for $43.7 million, more than triple its high estimate. At a lively sale of modern and Impressionist art the week before at Sotheby’s, an Alberto Giacometti sculpture sold for $19.3 million, well over its $12 million high estimate.

Advertisements


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s