Discussion in 'Wall St. News' started by ByLoSellHi, Jan 21, 2009.
It should drop farther than that because a lot of that "stuff" is more illiquid than toxic debt.
A lot of size is held by guys who are in trouble with other investments as well. Ala' Steve Wynn and Norman Braman. OTOH, in a world of $850 gold there's some who view a Monet as store of wealth after impending global currency devaluation.......
they just had the barrett jackson clsssic car auction last weekend. that kind of "art" is still bringing good money.
private deals are on the rise. what is the reason?
The price is kept secret so as not to depress the market further.
Glad this is happening, for years all I read was how collectors would pay top dollars for "priceless" art work, now even this is falling apart like everything else, doenst amaze me at all, imagine the art that was bought over the last 3-5 years, they are lucky now to get what they paid for it.
ordinary people just getting by had to bail out the people who buy this shit
if you have a 20 million dollar painting, why should someone working at wal mart dig deep to bail you out
don't short art. Remember marketsurfer says trends don't exist.
By the way Over the holidays I was on St. Armands circle in Sarasota - went into the art shop. Its hard to call it a gallery.
Prices on some of the art was nicely discounted.
Of course you could not have predicted further price drops on art because trends do not exist.
Portraits of the Three Stooges and dogs playing poker have actually increased in value recently.