fromThe Art Newspaper - International art news and events
1 day agoIt's back to business for the art market-but can the trade keep ticking over till Christmas?
Such decisions, in the face of macro events including wars in Europe and the Middle East, a Chinese property crash, trade wars and sticky inflation, suggest that the art market is facing a collapse not witnessed since 1991-after which, according to data from Arts Economics, it took 14 years for art sales to recover. Back in the early 1990s, many Western economies, including those of the US and UK, went into recession, a situation that the art market could not ignore.