John Varoli reports from ARCO with these dealer quotes in his Bloomberg story.
“Prices climbed way too quickly over the past three years, and if they now fall to the level of 2005, or even 2004, that won’t be a bad thing,” said Edward Tyler Nahem, owner of Edward Tyler Nahem Fine Art in New York. “Collectors are returning to the market after being priced out.” [ . . . ] “I don’t feel people have stopped buying,” Benedicte Burrus of Galerie Thaddeus Ropac said. “Interest is still strong.” [ . . . ]“If I was a collector I’d make an offer,” said Bjorn Wetterling, the gallery’s owner. “You’d be stupid not to.” He said the current market crisis is easier for him than the one in the early 1990s. “Back then I had debt, and now I don’t,” said Wetterling.