Fine art investment as recession proof investment tool?
"The art and luxury markets have proven to be incredibly resilient, and demand for quality across categories is unabated." said Sotheby's CEO, Charles Steward in a statement.
Interesting how 4 of 5 interviewees pointed to art/collectibles as an alternative investment asset.
The global art market shrunk by 5% in 2019 with a total of $64.1 billion in sales, according to economist Clare McAndrew’s report “The Art Market 2020,” released by Art Basel and UBS on Thursday. That represented a drop of $3.3 billion in sales from 2018, which was the art market’s biggest year in half a decade, with total sales of $67.4 billion.