Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

BID v. Gold: Sotheby’s, Metals Fall Together

September 26, 2011 by Marion Maneker

One of the truisms of the recent art market is that blue chip art behaves like gold. Both have no intrinsic use value but generate eternal demand. Art, of course, is not uniform like precious metals but we’re not living in normal economic times. Art is being seen as a safe-haven store of value, the same logic behind gold and silver. Unfortunately, gold has traded down in recent days in the face of rising economic uncertainty about Europe. Some financial commentators suggest this might be a bursting of the gold bubble (then, again, it could just be brief correction.)

Sotheby’s stock (BID) seems to be travelling a similar path, which should make us wonder as we enter the all-important Autumn auction season:

More from Art Market Monitor

  • Zhang Xiaogang and Key Chinese Contemporary Artists from Storied Johnson Chang Collection Come to AuctionZhang Xiaogang and Key Chinese Contemporary Artists from Storied Johnson Chang Collection Come to Auction
  • Bacon, Picasso, Lichtenstein Top 2020 Global Modern & Contemporary Auctions: AnalysisBacon, Picasso, Lichtenstein Top 2020 Global Modern & Contemporary Auctions: Analysis
  • Van Rysselberghe, Klee, Magritte Lead June 2020 Paris Impressionist and Modern Sales: AnalysisVan Rysselberghe, Klee, Magritte Lead June 2020 Paris Impressionist and Modern Sales: Analysis
  • As Coronavirus Escalates, Sotheby’s Relocates Modern and Contemporary Hong Kong Sales to New YorkAs Coronavirus Escalates, Sotheby’s Relocates Modern and Contemporary Hong Kong Sales to New York
  • Sotheby’s Unveils Plans for New Galleries at York Ave.Sotheby’s Unveils Plans for New Galleries at York Ave.
  • Freud’s £4.5m Early Portrait at Sotheby’s in MarchFreud’s £4.5m Early Portrait at Sotheby’s in March

Filed Under: Economic Trends Tagged With: Sotheby's

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...