Some brief thoughts about art and the current market...
Most Impressionist and Modern Art sales in early February 2009 proved that art prices and its market remain strong. And, in a time of crisis, records can still be broken. Great works, strong images, and iconic works attested to be the most desirable and attained the highest results. In February 2009, this Edgar Degas sculpture sold well over its estimate at 13.3 million pounds, as well Joan Miro's 4-foot 9-inch tall surrealist abstract, “Femmes et Oiseaux dans la Nuit”, on the same day.
The lessons are clear: art continues to be a sound investment, and one should continue collect works as I have always argued. The best of art lifts the spirits, hearts, and minds of those who view them. Great art takes the viewer to new places and experiences, allowing the viewer to be moved in both mind and spirit. Art has always been an investment in two areas: firstly, the heart and soul; secondly, an economic one that weathers the test of time better than most all other tangibles.
Read more about the art market and the ways it is growing online in "The Growth of the Online Art Market."