If you were wondering if now is the time to invest in a great work of art the answer may be yes.
I recently read that major artwork is selling for a lot less than it had a year ago. Fewer collectors are putting their art work up for auctions and fewer are buying. This means that for those pieces that are currently for sale, the prices may be very good.
The large auction houses are selling fewer pieces. A lot of artwork is being sold privately. Sotheby’s Impressionist and modern art sale bought in over $200 million dollars last year. The upcoming sale next month is expected to gain only $81 million dollars.
If you have always wanted to purchase a major work, it may not be a bad time to look for art at a good price during this economic down turn.
The large auction houses are selling fewer pieces. A lot of artwork is being sold privately. Sotheby’s Impressionist and modern art sale bought in over $200 million dollars last year. The upcoming sale next month is expected to gain only $81 million dollars.
If you have always wanted to purchase a major work, it may not be a bad time to look for art at a good price during this economic down turn.
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