The art market has decided to price itself more realistically at the December 3rd auction in Paris. It should be pointed out that the real major pieces that one would expect at an auction of this magnitude, in Paris, are strangely absent.

I wonder if the predicted estimate of prices at the gavel are a deliberate lowering of expectations, so the art media can then spin the auction a success whatever the low prices might amount to. Perhaps the art that's been left off the block is in strong hands, and what we're seeing is the art held by the weak hands. Perhaps the owners/investors of the best art are waiting for an inevitable upturn in the general art market conditions. Needless to say, if one wants to buy a second rate Picasso for collecting/investing, now might be a good time to buy. If one wants to buy a piece of art because one thinks it's beautiful and one loves it, anytime is good as long as the pocketbook is full.





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