> The question is how to “get people to understand that art isn’t an asset class,” Schwartzmann added. “That’s not how you should be collecting,”
> Valentine said ... "Asking $20,000 for a work in an artist’s first show is unsustainable"
none of the separate participants in this article are willing to acknowledge that these are related problems.
there is no price discovery in the art world, and it was only just beginning to happen in the pandemic era flush with cash
when you question the price or try to find any rational trend, the gallery director gaslights you into the prior quote "you should just love the piece!" okay but why should I love it at this price "because it will be another price in the future!" but why will it be another price who sets that price "we the gallery do! it moves up over time!" how does that work "you should just love the piece!"
> Valentine said ... "Asking $20,000 for a work in an artist’s first show is unsustainable"
none of the separate participants in this article are willing to acknowledge that these are related problems.
there is no price discovery in the art world, and it was only just beginning to happen in the pandemic era flush with cash
when you question the price or try to find any rational trend, the gallery director gaslights you into the prior quote "you should just love the piece!" okay but why should I love it at this price "because it will be another price in the future!" but why will it be another price who sets that price "we the gallery do! it moves up over time!" how does that work "you should just love the piece!"