Bloomberg sniffs out the action at The Art Show:
- “This particular fair is one of the best barometers of the art world,” said Matthew Armstrong, curator of Marron’s collection. He bought nothing.
- “Everyone is paralyzed,” said dealer Per Skarstedt. “It has to be either rare or inexpensive or both.” Skarstedt Gallery sold only one work: a photograph by Cindy Sherman priced at $600,000.
- “The guys with the bonuses and hedge funds won’t be throwing money around,” he said. “There are a lot of things at lower price levels than in the past.”
- “Ten, 15 years ago, people would have had their inventory on the walls,” said Roland Augustine, president of the ADAA. “I’ve encouraged member-dealers to think more about the aesthetics and the curatorial approach. I think it serves the artist and the gallery better.” As a result, 24 dealers are focusing on the work of a single artist, up from 18 last year.
Art Show Opens in NY with Less Hedge-Fund Money for Picasso (Bloomberg)
