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Why the art market is volatile, and prices can drop 90%

submitted by happytoes to Art 6 monthsOct 6, 2024 14:43:48 ago (+3/-0)     (www.youtube.com)

https://www.youtube.com/watch?v=hUMrDhdIJ98

This video is about the market for expensive (say $10,000 to $100,000) paintings. Although made by an art lover, the account of how the market works is pretty brutal in its cynicism. His line is "Prices can fall, so just pay your money, hang it on your wall, and enjoy it." but maybe he is revealing that you $100,000 painting was never worth $10,000 to begin with


2 comments block

Another video has popped up in my feed

https://www.youtube.com/watch?v=wpQQZQN0sXQ

Watch Market Collapse! Why Did Secondary Market Prices Fall So Much?

This time it is luxury watches. The vibe I'm getting is that rich people aren't so rich any more. Weird!