The new reserve currency for the world’s rich is not actually currency

Posted on 2015-10-05

Here’s an interesting question: If the world’s economy is filling markets with a pervasive sense of uncertainty, why is the art market picking up steam for yet another season of what would appear to be massive sales? For the very rich, art is a store of value—which is not a very new idea and one […]

Auction Houses Jockey to Lead Sales in First Big Market Test

Posted on 2015-09-27

Art auctions used to be a gentlemen’s business. Now the gloves are off. As art sales face their first major test since the August financial market rout, auction houses are jockeying not only for trophy artworks but also for the best positions to highlight them at the November auctions in New York. The result is […]