New York Auction Weekend: Market Greed Resurfaces
When the art market experiences strong capital gains, active operators become excessively greedy, disrupting usual rules. This occurred in the late 1990s with ownership changes at auction houses and the rise of private sales. A similar dynamic is now replaying in a different form.
Key facts
- Market gains lead to operator greed and rule disruption.
- Late 1990s saw auction house ownership changes and private sales growth.
- Similar pattern is occurring today in a different style.
Entities
Locations
- New York
- United States
Sources
- artpress —