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The Art Market in Collapse

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The Art Market in Collapse
Staff members pose next to a painting by Leonardo da Vinci entitled “Salvator Mundi” before it is auctioned in New York on Nov. 15, 2017, at Christie's in London on Oct. 24, 2017. Carl Court/Getty Images
Jeffrey A. Tucker
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Commentary

The high-end art market is not for you and me but rather the 1 percent of the 1 percent. It is dominated by the strangest ethos in economics that you can ever even imagine. The bubble in high-end art, pieces running at $1 million and up to hundreds of millions of dollars and traded at auctions by Sotheby’s and Christie’s, has lasted for most of the 21st century.

Jeffrey A. Tucker
Jeffrey A. Tucker
Author
Jeffrey A. Tucker is the founder and president of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of “The Best of Ludwig von Mises.” He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture. He can be reached at [email protected]
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