Boom (ctd.)
February 7 2016
Picture: Blouin Artinfo
It's been interesting to see how the media narrative for the health of the 'art market' has turned to talk of correction. Everyone is now firmly convinced of it, even though we're only one major sale into the year (Impressionists in London), and the evidence is slight. That's not to say it won't happen - I just find it interesting how impatient the media can be.
Anyway, contemporary art harrumphers like me are used to warning that the most valuable names now might not be so valuable in a generation or so. But I was surprised to see endorsement of that view from Marc Spiegler (above), who is director of the contemporary mega-fair, Art Basel. He said recently (in The Art Newspaper):
Of the artists selling well today, roughly 80% will be basically unsellable in 20 years, which is perfectly fine. Because collecting contemporary art is about engaging with the zeitgeist. People should buy art that they believe in.
Wise words.
