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The Powers That Be: Daily
Sotheby's $105M Night
Jun 27, 2024
Marion Maneker discusses the art market, focusing on London sales and their challenges. Topics include geopolitical influences, impact of frozen assets on art sales, and the emergence of new art hubs. Insights on hammer ratio in auctions and its relevance in assessing the art market's health.
21:29
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Quick takeaways
- Geopolitical issues impact art market sentiment and hinder buyer participation.
- Behavioral economics influence buyer caution, anchoring effects, and slower auction activity.
Deep dives
Challenges in the Art Market
The art market of 2024 faces challenges as auction houses in London experience less than ideal sales momentum, influenced by prevailing economic vibes and geopolitical factors such as the U.S. presidential race. Discretionary selling and buying in the art market, driven by sentiments and economic outlook, have a significant impact. Uncertainties stemming from external factors like geopolitical issues and global events contribute to a subdued art market.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode