One of the major fears has been that the financial markets’ swoon would withdraw money from the art market permanently. But the Wall Street Journal reports on the return of banker’s and their wallets to many luxury arenas. Here’s part of what they said about art:
Sandy Heller, an art adviser who buys for SAC Capital Advisors founder Steve Cohen, says he is taking Wall Street clients to next week’s major art fair, Art Basel Miami Beach. “We’re not going to Miami so we can buy everything with a credit card,” Mr. Heller says, “but as far as a broad mood goes, my clients are feeling more positive.”
Shhhh! Wall St. Is Spending Again (Wall Street Journal)
