Deustche Welle has a run-of-the-mill article on art as an investment but in the middle of it, the sole source for the article says something very interesting about the art market and financial crisis. This isn’t exactly original. We’ve recently heard from a number of investors and art collectors who feel the same way:
Pesendorfer argues there was never really a crisis in the art market. The problem was that art traders’ confidence wobbled as they lost faith in the banks.
“At the time, I had a few customers on the phone telling me, ‘I’d like to sell, but I don’t know what to do with the money, where I should invest it,'” he told Deutsche Welle.
Investors Find a Safe Haven in Art (Deustche Welle)
