Recession

Comment: it’s the economy, stupid—and the art market is no longer immune to its vicissitudes

While the 2008 global financial meltdown largely failed to dent sales, in 2015 our editor-at-large warned that the falling oil price experienced at the time could prove much more serious

Jerry Saltz: 'The market is a place to support junkie-like behaviour in public'

The New York critic discussed the recession, likeability and why the market is like magic mushrooms in a 2008 panel

Art marketarchive

Caution is the word for collectors and dealers at this year's Pavilion of Art and Design London

Though sales have been fairly solid at the fair, few very high priced pieces have been shown due to anxiety around the stock market crisis

Art marketarchive

EU tax and regulation changes and more sales could allow the European art market to retain top spot over China

Yet the EU's share of the market is steadily declining and the US may already have lost its lead

Art marketarchive

Auction guarantees are dividing the art trade

Insurance for sellers or market manipulation?

US art sponsorship suffering after economic crisis, survey shows

Corporate giving down 14% over three years according to Business Committee for the Arts

The market bounces back from the recession as big-ticket works sell for big-bucks

But despite strong headline sales, missed estimates and cautious collectors signalled that 2010 would not be a return to the wild days

May 2010archive

Why do certain works still set auction records during recessions

We noted in 2010, amid a painful global downturn, that a Picasso nude carried the largest pre-sale auction estimate in history at $70m to $90m

TEFAF '10 fair report: Galleries bring out their best for Maastricht fair

Art and antiques fair builds on last year’s success of attracting high-spending collectors with a new section devoted to works on paper

Interviewarchive

Interview with dealer Andrea Rosen on 20 years in the business: “People are rightfully cautious and focused. I like that”

The pioneer of the resale agreement talks about the recession and what it means for both artists and collectors

July 2009archive

How to beat the recession: cut costs, slash prices, don’t lie and be creative

During the Great Recession in 2009 we reported that gallerists must act "quickly and brutally" in order to survive

Gagosian doubling space in Los Angeles

Meanwhile, Steven Kasher moves in on Gagosian territory

Art marketarchive

Economically tough times lead to backroom deals and distress selling

Now that auction houses are no longer offering guarantees, an increasing number of purchases are likely to take placeas discreet transactions brokered by art dealers

Collectorsarchive

Art as collateral

Collectors use art to raise funds as liquidity dries up

Opinionarchive

Comment: Tough times in the art market will create new opportunities

The current drop in activity may be healthy for the sustainability of the future art market

Mortgage crisis and resulting stock market plunge be damned—the party isn’t over yet

In 2007 we noted that strong sales at auction and fairs and more money coming from Russia, Indian and Chinese collectors indicated that confidence in art remained strong

Comment: if the hedge funders ditch art, new buyers will emerge

In 2007 the economist James Sproule examined the risks facing the market—and the good news was it was not all doom and gloom

Art marketarchive

Is the art market in a boom or bubble?

Our art market editor assesses the current rise in spending

Art marketarchive

Auction sales of art shrank again in 2003

Figures show between 1.2% and 17% decline in turnover

Diary of a London dealer, Nicholas Logsdail: “I think I changed the landscape”

Why the art market is holding up as stock exchanges plunge, and why there are 10 times more collectors than in 1990

May 2001archive

Eight leading market figures on what the next recession will mean for the art world

In 2001 they predicted that some areas such as the Old Master market will remain stable but that trendy art would lose its zip

May 2001archive

Interview with economist William N. Goetzmann: 'The financial and the art markets do not crash at the same time'

In 2001, the Yale professor attributed the one- to two-year lag between crashes to the time it takes to liquidate assets

Art marketarchive

The mass gallery exodus from SoHo continues despite rumblings of a recession

Chelsea becomes the new home of many even as it becomes ever more expensive

Museumsarchive

Houston's Museum of Fine Arts bucks the recession in Texas

The museum's endowment has grown to $157 million and a $50 million building by Raphael Moneo comes next

Art lawarchive

Is the French art market subject to enough regulation?

A recent symposium at the Crédit Municipal examined ways in which the market could be improved

Art marketarchive

Brodsky tables bills to restrict the freedoms of N.Y. auction houses

Populist legislation involves no more “chandelier” bids, loans to buyers, or secret reserve

March 1991archive

A guide to bad times: why the market downturn is good news for true collectors

We observed that while the market was feeling fragile during the 1991 slump, fortunes have a way of turning around

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