"If a collector needs to sell a work, the geopolitical situation will have nothing to do with it. But does the geopolitical situation take a bit of froth off the top of the market energy? Absolutely." Todd Levin's commentary highlights the nuanced relationship between geopolitical events and collector behavior in the art market, emphasizing how external circumstances influence market enthusiasm without directly impacting individual sales decisions.
"It's not been a good year. We're in a period of contraction-it started in February 2023 and has been on a downward trend since. When the market first started to go down, we actually saw an increase in lots being traded.... But that seems to be over now." Christine Bourron's insights convey the challenges facing the art market, noting a shift from increasing trading activity despite declining prices to a now-reduced auction volume.
"Right now, everyone wants to buy stars, no one is remotely interested in buying comets. Classic Impressionist, Modern and post-war works being the stars, 'wet paint' contemporary names being the comets which burn out quickly." This statement by Todd Levin summarizes the current art market interest, indicating a preference for established art over newer contemporary works that lack longevity.
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