You know what else is down 39% along with the art market? This New York townhouse once owned by Susan Soros. It was bought by Christopher Cole for $31m in 2014. Now it’s been snapped up for $19m by investor David Edelstein:

Mr. Cole never moved in to the house, Mr. Edelstein said. He put it on the market a few months after buying it with a price tag of $33 million, and the house then saw its price drop several times. It was last listed at $22 million, but was taken off the market this summer and wasn’t officially listed at the time the transaction occurred, Mr. Garfield said.

Ex-Banker Sells New York Townhouse for $12 Million Less Than He Paid  (WSJ)