Art Market Predicted To Fall With Hedge Funder Fortunes

Bloomberg   |  Linda Sandler   |   August 20, 2007 02:04 PM

Read More: California , Breaking Business News
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Billionaire Eli Broad, who'll help shore up Goldman Sachs Group Inc.'s Global Equity Opportunities Fund, said art prices will decline as a result of losses by hedge funds and other large contemporary art collectors.

``Many of the buyers of contemporary art have been hedge-fund managers and other investors who obviously are having a difficult time and have lost lots of money,'' the California collector said in an Aug. 15 e-mail sent by a spokeswoman. ``The art market will soften, and an adjustment in values will take place, but it may not happen for six months to a year.''

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- leftLibertarian See Profile I'm a Fan of leftLibertarian

And i just finished my art installation: Taking a Big Smelly Dump on Bush.

    Favorite    Flag as abusive Posted 07:20 PM on 08/22/2007
- nomoredead See Profile I'm a Fan of nomoredead

Real estate/ art-----more....moreee...pop !

    Favorite    Flag as abusive Posted 11:34 AM on 08/21/2007
- SouthJerseySteve See Profile I'm a Fan of SouthJerseySteve

I see those ads on TV for "starving artists"... maybe they can buy a $25 oil painting of dogs playing poker?

    Favorite    Flag as abusive Posted 06:06 PM on 08/20/2007
- Vaxalon See Profile I'm a Fan of Vaxalon

Sculptor, that may happen, but in the long run, what will you do when more famous and fashionable artists drop their prices to match yours?

    Favorite    Flag as abusive Posted 03:44 PM on 08/20/2007
- sculptor See Profile I'm a Fan of sculptor

Maybe by then people will realize, to a certain extent, that "modern" art is a scam cooked up by academics and critics to bamboozle the rich into handing over fistfuls of their ill-gotten gains. ;-) ;-) ;-)

Seriously, have ever seen any of the hideous and ill-conceived crap that is sold as high end art these days? I doubt things will change all that much but a rational person has got to question the sanity of it all.

    Favorite    Flag as abusive Posted 04:13 PM on 08/20/2007
- sculptor See Profile I'm a Fan of sculptor

Oh well, I guess they'll just have buy the work of an inexpensive artist like me. ;-) ;-) ;-)

http://www.bronzedreams.com

By the way, you normal wage earning people needn't bother checking out my art
because bronze sculpture actually is fairly pricey.

    Favorite    Flag as abusive Posted 03:32 PM on 08/20/2007
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