The Art Market is Back

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Edvard Munch's The Scream just sold for a record breaking $120m. 

On Sunday, experts predicted big sales for the Munch painting. The new super rich from Russia, Asia, and the Middle East are blowing BIG money on art right now. So, if you happen to have a little Picasso in the attic. This would be a good time to sell. 

2 thoughts on “The Art Market is Back

  1. Apparently, the Chinese are playing a big role, because it’s one of the few legal investments available to them. They said on one of the money shows that Chinese aren’t allowed to legally invest in foreign equity markets (though presumably plenty of them figure out a way to do it anyway), but they are allowed to buy art and bring it to the country.
    It’s interesting how these types of rules have far flung consequences.

  2. One of my daughter’s classmates in kindergarten had a Picasso drawing in their dining room. Something lent to them from Grandma. So old money – they didn’t make a big deal of it and you’d never notice unless you looked close.
    There’s your non sequitor of the morning. Now, off to the dentist.

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