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Art market and stagflation; Spain’s historical memory; Dürer plate remade by Goldin + Senneby
The Week in Art
The Implications of Ageing Population on the Art Market
As economies slow and cost remain the same, we're entering this era of secular stagnation. We have high costs and less money to fund it, which means higher taxes on wealth in particular. And yes, I think this will have an adverse effect on the art market. It's just a matter of time before they go for things like inheritance tax and particularly capital gains tax. Of course, that means inevitably that there will be higher pressure to develop collectors in low tax economies. Right? We talked about Hong Kong, literally Hong Kong last night with the climp. We think it's a Hong Kong buyer. But also we know about buyers in the Middle East from low tax or no tax economies
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