My comments are included in Arun Kakar’s article, May’s Record-Breaking $2.5 Billion Auction Week, Explained, published this week in Artsy:
“‘New collectors may find that they are entering a market of cautious growth,’ said advisor David Shapiro. ‘They will be wise to learn lessons from recent burst speculative market bubbles, and instead, to prioritize, as much as possible, purchases of characteristic works by artists with proven standing and strong institutional support.’”
Artsy quote: Inflation and the Art Market
My comments are included in Veena McCoole’s article in Artsy, “How Inflation Impacts the Art Market”:
“Prices may be up, but if money coming in is also up, that doesn’t necessarily mean a downturn in art purchasing for some,” noted art advisor David Shapiro. “People in the market for a Pablo Picasso, perhaps, aren’t as swayed by inflation and day-to-day costs.”
Reginald Marsh, Art Auction, ca. 1940