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Brilliantly thoughtful by @jerrysaltz but...see the thread-The Last Days of the Art World … and Perhaps the First Days of a New One Life after the coronavirus will be very different. https://www.vulture.com/_pages/ck8ivxorc0000yeyerntsmxxj.html
Jerry is rightfully worried abt the current infrastructure built up by the 1% using art as one of their playgrounds but this concentration of income is only another LT cycle. It was already turning&the Virus will just accelerate the re-balancing. The wealthy will pay this crisis
I am predicting that the overblown bling side of the market will be wiped out when it appears that contemporary art investment is a mirage&that serious taxes will hit hard. The 1% feels it already as in this survey. This overspent infrastructure will b scaled down & ...
more dramatically the small&midsize part of it. The 95% mentioned by Jerry makes sense BUT they have little capital in the game and can start again with a scaled down offering to the connaisseurs who will b the ones coming back to buy. Too many artists Indeed but the best will be
back. Auction houses and mega galleries will fight for the established branded "myths"(Leo Castelli) and the surviving spoils of those last 20y of excess. Art fairs will split in three camps: the luxury ADAA type for a tiny minority, the discovery trade fair like old times &
the v cheaply priced art for the decoration of this slowly re-building middle class. Mark my words
and remember i am the one who invented #GrowOrGo http://sfaq.us/2014/11/art-in-the-shadow-of-art-market-industrialization-moving-toward-a-sustainable-ecosystem/
and remember i am the one who invented #GrowOrGo http://sfaq.us/2014/11/art-in-the-shadow-of-art-market-industrialization-moving-toward-a-sustainable-ecosystem/
