> Consequently, prices sometimes can be manipulated by the very well connected, who would be consistently selling and reselling the same works at increasing prices
Go ask your local fine art gallery about the prices, try to do literally any price discovery and get the avant-garde run-around and count the minutes until it gets defensive
"ah you know I'm just in finance and most of the markets I work with have other mechanisms for price discovery so I was just curious about how it works here, for this artist"
well you know you need to buy something you really appreciate for yourself and want to keep for decades and you need all that time for the price to appreciate
generic stuff, but none of this answers what the market depth is now and how is standing market depth determined and what were the prior prices, or why that piece over there keeps increasing in price by 15% but is still in your gallery - is this consignment from someone you just sold it to? how come they weren't influenced by the same thing you just told me
Anyway, you can't ask it exactly like this in a casual conversation because thats just asking for defensiveness, but don't expect a transparent market. you can try asking about the art world in any cordial way you can think of and get stonewalled. You know the answers deep down.
Go ask your local fine art gallery about the prices, try to do literally any price discovery and get the avant-garde run-around and count the minutes until it gets defensive
"ah you know I'm just in finance and most of the markets I work with have other mechanisms for price discovery so I was just curious about how it works here, for this artist"
well you know you need to buy something you really appreciate for yourself and want to keep for decades and you need all that time for the price to appreciate
generic stuff, but none of this answers what the market depth is now and how is standing market depth determined and what were the prior prices, or why that piece over there keeps increasing in price by 15% but is still in your gallery - is this consignment from someone you just sold it to? how come they weren't influenced by the same thing you just told me
Anyway, you can't ask it exactly like this in a casual conversation because thats just asking for defensiveness, but don't expect a transparent market. you can try asking about the art world in any cordial way you can think of and get stonewalled. You know the answers deep down.