Is art the new gold?
The anxiety continues to build. What will happen at the Frieze art fair? How will the fall auctions go? Does the economic impact on Main Street affect the gallery district? Is art a good investment? And does it really matter?
Sarah Thornton writes a great piece in the UK Telegraph here.
My favorite comment comes in response to the upcoming auction of art collected by Richard and Kathy Fuld, he the former CEO of Lehman Brothers.
Even if their consignment’s top lot, a 1951 de Kooning drawing, doesn’t achieve its low estimate of $3 million when it goes on the block in November, it will always be worth something – which is more than you can say about a share in Lehman Brothers.