Art Market Monitor

Global Coverage ~ Unique Analysis

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

How Smart Is the Smart Money?

November 4, 2011 by Marion Maneker

The Wall Street Journal tries to come up with a counter-intuitive commentary on the art market suggesting that there are buyers who are market leading contrarians. Although that’s certainly true, the collectors profiled are too idiosyncratic to support the paper’s thesis that these collectors will point to areas that are undervalued. The story is further marred by this backward assertion:

This marketplace is riddled with idiosyncrasies, but the moves of a few name-brand collectors can influence art values around the world. Prices for Alberto Giacometti’s skeletal sculptures rocketed last year after London billionaire Lily Safra paid a record $104.3 million for his 1961 bronze “Walking Man I.”

The Walking Man sale was the culmination of a run-up in prices that took place over nearly a decade in the Giacometti market. Safra’s purchase marked the end of growth in Giacometti prices. No significant sales have taken place since. So Mrs. Safra was a trailing indicator, not a market bellwether.

Following the Smart Art Money (Wall Street Journal)

More from Art Market Monitor

  • Phillips Announces Large Zao Wou-ki Work for May HK SalePhillips Announces Large Zao Wou-ki Work for May HK Sale
  • Tracey's TaxTracey's Tax
  • Sotheby’s Announces $150m+ ModiglianiSotheby’s Announces $150m+ Modigliani
  • Mr. Broad Builds His Dream MuseumMr. Broad Builds His Dream Museum
  • Voices of the Old Masters SalesVoices of the Old Masters Sales
  • GMA Thinks Art Is Stolen By “People in the Business”GMA Thinks Art Is Stolen By “People in the Business”

Filed Under: Collectors, Featured

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...