The Polarized Art Market – How High End Sales are Changing the Infrastructure of the Global Art Trade
Stephen Brodie spoke on a panel entitled, "The Polarized Art Market – How High End Sales are Changing the Infrastructure of the Global Art Trade." The panelists examined the influence of top prices on the growth of the aggregate market and assessed the performance of the top end versus rest of market. The discussion covered how these sales are affecting market valuations and appraisals as well as investment implications for collectors.
The panelists determined who in the art trade will gain from these sales and the competitive and legal implications of practices such as auction uarantees and other potential manipulation of the market in the struggle to secure vendors. The panel concluded which markets will be most important for high- end sales going forward: Beijing versus New York versus London, and which center has the greatest sustainability and why.