The Art Market Is Treading Water

The key thing is demand. Everyone talks about supply and saying well if the right supply comes along the figures will be great, it will be fine. But art nets did a very very interesting report which showed that when you look at total auction sales over the last 10 years the high when you were just for inflation was in 2011,. That's 6.9 billion dollars. Since then, total haven't even got within a billion. So essentially the whole market is treading water. At the same time if you look at wealth reports the number of billionaires since the financial crisis since 2009 has doubled. And this is a, the art market has any number of elephants in the room but that's one