ART VS. RECESSION
With hundreds of auctions coming up over the next couple of months in more than 50 major global cities featuring dozens of blue chip artists such as Picasso, Warhol, Banksy to name a few. It is highly unlikely that they will reach upper limits or all time highs, as a matter of fact we would be lucky to see half of them between unsold and just scrape a sale.
We have seen times like this when economic global turmoil creates weakness in high end collectors market. Many people will be happy to hear news of markets falling as this means their mortgages will not go up for many more months to come.
HARD TIMES CREATE GREAT ARTISTS
As a matter of fact artists such as the great Francis Bacon made it during troubled times as did our very own Bambi, who started her trail towards her great success during the last round of the Great Recession of 2008.
At Walton we see hundreds of artists every month, fine picking one out of every couple of hundred which we feel have that special global je ne sais quoi…