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Anyone out there still buying art?, by Jeezuz Jones Snr on May 25, 2023 20:36:03 GMT 1, Yes a lot here did not ask themselves if they want to buy or not. They buy that’s all. Rich is becoming richer and poor poorer. Capitalism at its maximum during crisis. They use it. Good post and I totally agree the divide is getting bigger very quick in all western countries. America is in so much debt and they have messed up creating this war also which they have to keep on funding which means their country is going to get far worse socially all other western countries will be using (our) tax payers money to fund the war also are going the same way.
Massive rises in cost of living is affecting everyone and you can see so many sales threads on this forum and doubt much is shifting. As said the timed releases are great for fans of the artist to pick something up. But for me these and new releases are so expensive thesedays and then add the framing on top and it's not cheap . Therefore due to this like me a lot are sitting out, being more selective and saving. As a family we have gone hard and tightened right up and house is nearly paid off, that's the main priority in this economy along witn family, kids and health. I think as Lroy wrote earlier in the thread covid has certainly changed individual's thinking also of where people's/families financial priorities lie.
As always don't get caught up in the hype on releases and don't over spend 👍
Yes a lot here did not ask themselves if they want to buy or not. They buy that’s all. Rich is becoming richer and poor poorer. Capitalism at its maximum during crisis. They use it. Good post and I totally agree the divide is getting bigger very quick in all western countries. America is in so much debt and they have messed up creating this war also which they have to keep on funding which means their country is going to get far worse socially all other western countries will be using (our) tax payers money to fund the war also are going the same way. Massive rises in cost of living is affecting everyone and you can see so many sales threads on this forum and doubt much is shifting. As said the timed releases are great for fans of the artist to pick something up. But for me these and new releases are so expensive thesedays and then add the framing on top and it's not cheap . Therefore due to this like me a lot are sitting out, being more selective and saving. As a family we have gone hard and tightened right up and house is nearly paid off, that's the main priority in this economy along witn family, kids and health. I think as Lroy wrote earlier in the thread covid has certainly changed individual's thinking also of where people's/families financial priorities lie. As always don't get caught up in the hype on releases and don't over spend 👍
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nobokov
Junior Member
Posts • 4,867
Likes • 6,778
February 2016
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Anyone out there still buying art?, by nobokov on May 26, 2023 22:29:44 GMT 1, I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business.
I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business.
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sevrin
New Member
Posts • 546
Likes • 630
February 2022
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Anyone out there still buying art?, by sevrin on May 26, 2023 22:35:43 GMT 1, I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. Love the sentiment, but there are too many wealthy people who are too easily parted from their money for upmarket galleries to go out of business.
I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. Love the sentiment, but there are too many wealthy people who are too easily parted from their money for upmarket galleries to go out of business.
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Jonas B
Junior Member
Posts • 1,442
Likes • 1,596
February 2021
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Anyone out there still buying art?, by Jonas B on May 26, 2023 23:25:31 GMT 1, For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive.
For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive.
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sevrin
New Member
Posts • 546
Likes • 630
February 2022
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Anyone out there still buying art?, by sevrin on May 27, 2023 0:05:56 GMT 1, For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less.
For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less.
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ca
Junior Member
Posts • 1,918
Likes • 2,372
March 2011
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Anyone out there still buying art?, by ca on May 27, 2023 3:30:11 GMT 1, I love collecting and buying art but hate kissing ass to get something. Never did it so limited access to some stuff, especially during pandemic. Now it’s much more open and you get access to better quality works at a discount. Great time
I love collecting and buying art but hate kissing ass to get something. Never did it so limited access to some stuff, especially during pandemic. Now it’s much more open and you get access to better quality works at a discount. Great time
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drbf
New Member
Posts • 292
Likes • 160
December 2017
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Anyone out there still buying art?, by drbf on May 27, 2023 3:47:09 GMT 1, For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less. I only buy art that I want to look at every day, unfortunately I ran out of wall space years ago and now I am using closets, under beds, etc for over 300+ pieces of art. Guess I am an "artoholic"
For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less. I only buy art that I want to look at every day, unfortunately I ran out of wall space years ago and now I am using closets, under beds, etc for over 300+ pieces of art. Guess I am an "artoholic"
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Anyone out there still buying art?, by shoottheglass on May 27, 2023 6:45:42 GMT 1, I second this sentiment. Always buying what I like regardless. Let the markets do what they do.
I second this sentiment. Always buying what I like regardless. Let the markets do what they do.
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Anyone out there still buying art?, by Lroy on May 27, 2023 8:34:31 GMT 1, For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less. There is a big difference between the emerging artists of now and those of yesterday: social networks like Instagram for example.
A modern artist can promote his works, even without galleries, by campaigning on the web, buying followers, etc... Let's say, it's easier to get known, and some from the beginning put prices already a little prohibitive.
I bought in 2011/12 the splendid print of Stik, only 75 pounds, Single Mum. The end of POW was a tragedy for emerging artists. Which gallery (there are some, however, and I won't name them), with a "name", will promote an artist at a low price? Galleries like Heni and others great names, do'nt worry about young artists, I think. There is too much hierarchy now... and the web again and big promotionnal campaigns...
For younger artists coming though it’s important people continue to buy art. Art doesn’t have to be expensive. Wise words indeed, we have to remember that the in demand artists of now were once emerging artists, and the emerging artists of today will be the in demand artists of tomorrow! As an addendum to that statement, I own a lot of pieces of art which I own and love that may or may not ever appreciate in value, however I love them none the less. There is a big difference between the emerging artists of now and those of yesterday: social networks like Instagram for example.
A modern artist can promote his works, even without galleries, by campaigning on the web, buying followers, etc... Let's say, it's easier to get known, and some from the beginning put prices already a little prohibitive.
I bought in 2011/12 the splendid print of Stik, only 75 pounds, Single Mum. The end of POW was a tragedy for emerging artists. Which gallery (there are some, however, and I won't name them), with a "name", will promote an artist at a low price? Galleries like Heni and others great names, do'nt worry about young artists, I think. There is too much hierarchy now... and the web again and big promotionnal campaigns...
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Anyone out there still buying art?, by its all about me on May 27, 2023 12:04:22 GMT 1, I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered.
To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful.
I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered. To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful.
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Jimini Cricket
Junior Member
Posts • 1,836
Likes • 1,206
December 2017
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Anyone out there still buying art?, by Jimini Cricket on May 27, 2023 13:11:04 GMT 1, I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered. To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful. A lot of these galleries are going to get a hot serving of humble pie very soon.
I'm glad to see that the sentiment is slowly changing from fervor of buying anything and everything to more measured buying. I'm looking forward to a day where galleries have to actually work to sell overpriced wares, lower their prices, and stop producing so many editions. But in all likelihood, they'll all probably keep up the snobbery, pump out prints, jack up prices monthly without reason, and not respond to emails until they go out of business. I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered. To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful. A lot of these galleries are going to get a hot serving of humble pie very soon.
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Maxi Minus
New Member
Posts • 103
Likes • 27
January 2018
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Anyone out there still buying art?, by Maxi Minus on May 27, 2023 15:51:54 GMT 1, harland miller deck chair
harland miller deck chair
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Anyone out there still buying art?, by John The Badgers on May 27, 2023 18:40:19 GMT 1, Really interesting thread this, some great comments.
My interest in art reached me quite late in life, but definitely something I enjoy learning about. The thing that really puts me right off is the money side of things, and would agree with the above about buying what you like.
In some ways, great that there is a down turn, people then spend more type researching artists, learning what they are about, going to exhibitions, and making measured decisions.
Sorry I cant help with the Miller deck chair mind.
Really interesting thread this, some great comments.
My interest in art reached me quite late in life, but definitely something I enjoy learning about. The thing that really puts me right off is the money side of things, and would agree with the above about buying what you like.
In some ways, great that there is a down turn, people then spend more type researching artists, learning what they are about, going to exhibitions, and making measured decisions.
Sorry I cant help with the Miller deck chair mind.
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Anyone out there still buying art?, by ┏( ͡❛ ͜ʖ ͡❛)┛ EnS on May 27, 2023 19:44:19 GMT 1, First pay off credit cards debt. Then buy art.
First pay off credit cards debt. Then buy art.
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Anyone out there still buying art?, by The Greased Piglet on May 27, 2023 20:22:42 GMT 1, I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered. To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful. A lot of these galleries are going to get a hot serving of humble pie very soon. For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle.
I'm repeatedly shocked at how badly some art galleries deal with potential customers. I've had some dreadful experiences. E-mails ignored. Ask a general question about an artist. No reply. Ask for an update two months after I paid for an item not yet received. No reply. Ask about a specific work of art and if it is still available. No reply. Send reminder. No reply. It doesn't take much to simply say "sorry. No longer available". But it seems they can't be bothered. To be fair, there are a couple of very good galleries out there (Avant Arte being one of them) but most are pretty awful. A lot of these galleries are going to get a hot serving of humble pie very soon. For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle.
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Pawel
Junior Member
Posts • 3,733
Likes • 3,213
June 2015
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Anyone out there still buying art?, by Pawel on May 27, 2023 21:14:10 GMT 1, A lot of these galleries are going to get a hot serving of humble pie very soon. For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz?
A lot of these galleries are going to get a hot serving of humble pie very soon. For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz?
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Jimini Cricket
Junior Member
Posts • 1,836
Likes • 1,206
December 2017
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Anyone out there still buying art?, by Jimini Cricket on May 27, 2023 22:28:35 GMT 1, For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz? Your budget will determine that.
For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz? Your budget will determine that.
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Anyone out there still buying art?, by The Greased Piglet on May 27, 2023 22:46:15 GMT 1, For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz? Well probably not unless you're a millionaire but maybe in 5-10 years pricing will be a little more transparent and the middle men will be taking less out. So instead of having to pay $1m for the Toor canvas you'll get it for $700k. The way I see it is that in some instances auctioneers and galleries can be taking 40-50% of the sale proceeds often at least 20%, I see no reason with advances in technology why people can't make a viable business taking as little as 10%. I think if properly streamlined and with the right culture and values businesses will start to emerge that provide the same level of service or better for a fraction of the cost. That can only be a good thing for collectors, artists and even the dreaded resellers.
For sure. Not just galleries, I’d say the major auction houses too, the art market is ripe for major disruption, margins are huge and service is poor. It won’t be long until like just about every other industry it’s completely turned on its head, how it’s managed to go on like this for so long is a miracle. So you think I will be able to afford Salman Toor or Ewa Juszkiewicz? Well probably not unless you're a millionaire but maybe in 5-10 years pricing will be a little more transparent and the middle men will be taking less out. So instead of having to pay $1m for the Toor canvas you'll get it for $700k. The way I see it is that in some instances auctioneers and galleries can be taking 40-50% of the sale proceeds often at least 20%, I see no reason with advances in technology why people can't make a viable business taking as little as 10%. I think if properly streamlined and with the right culture and values businesses will start to emerge that provide the same level of service or better for a fraction of the cost. That can only be a good thing for collectors, artists and even the dreaded resellers.
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Anyone out there still buying art?, by Arty Farty 15 on May 27, 2023 23:05:41 GMT 1, You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032.
You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032.
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tranito
New Member
Posts • 245
Likes • 159
February 2016
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Anyone out there still buying art?, by tranito on May 28, 2023 3:33:42 GMT 1, You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation..
You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation..
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Anyone out there still buying art?, by shoottheglass on May 28, 2023 4:29:24 GMT 1, You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Cheap money and borrowing! That's all gone now.
You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Cheap money and borrowing! That's all gone now.
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kai22
New Member
Posts • 101
Likes • 144
September 2022
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Anyone out there still buying art?, by kai22 on May 28, 2023 7:30:58 GMT 1, You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Unfortunately people like you, who think rationally, don’t make up the majority of people who spend money on art.
You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Unfortunately people like you, who think rationally, don’t make up the majority of people who spend money on art.
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orchid
Junior Member
Posts • 1,450
Likes • 1,135
May 2018
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Anyone out there still buying art?, by orchid on May 28, 2023 10:51:02 GMT 1, The UK is technically not in recession, people are still buying art, historically is and will remain a better investment than cash and other assets. Buyers are sweeping up stock from paper hands sellers here and elsewhere who bought on expensive credit, ready for that bounce back next year (inflation & energy prices coming down, war will not go on forever, pandemic over etc), it will only take a few strong auctions to quickly start the fightback. Auction houses are already posting some promising results of those green shoots, galleries at fairs selling out booths as usual.
The UK is technically not in recession, people are still buying art, historically is and will remain a better investment than cash and other assets. Buyers are sweeping up stock from paper hands sellers here and elsewhere who bought on expensive credit, ready for that bounce back next year (inflation & energy prices coming down, war will not go on forever, pandemic over etc), it will only take a few strong auctions to quickly start the fightback. Auction houses are already posting some promising results of those green shoots, galleries at fairs selling out booths as usual.
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Jaylove
Junior Member
Posts • 1,596
Likes • 1,073
November 2016
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Anyone out there still buying art?, by Jaylove on May 28, 2023 13:34:08 GMT 1, Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling.
I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win.
Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling.
I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win.
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tranito
New Member
Posts • 245
Likes • 159
February 2016
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Anyone out there still buying art?, by tranito on May 28, 2023 14:40:26 GMT 1, What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Cheap money and borrowing! That's all gone now. Obviously, but we were discussing investing your own money, not someone else's. Wait, were people here buying art with borrowed money? That would be a real problem indeed, but my point is, people looking to invest their money should equally be looking at buying art right now, than a few years ago in the zero interest rate era, even with what seems decent rates parking your money in a bank account, because inflation.
What's the difference between said era of zero percent interest rate and now (standard bank account can earn 5%) if the former had an inflation of 2% and the latter has an inflation of 7%? Honest question. You're still poorer at the end of the year if you don't beat inflation.. Cheap money and borrowing! That's all gone now. Obviously, but we were discussing investing your own money, not someone else's. Wait, were people here buying art with borrowed money? That would be a real problem indeed, but my point is, people looking to invest their money should equally be looking at buying art right now, than a few years ago in the zero interest rate era, even with what seems decent rates parking your money in a bank account, because inflation.
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Anyone out there still buying art?, by The Greased Piglet on May 28, 2023 14:53:24 GMT 1, You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. 10 years haha right. There’s not been a recession in modern times that’s taken that long to recover from, you clearly don’t know your history or your economics. In terms of putting your money into saving accounts the issue you have is that it’s still being eroded by inflation which is higher than interest rates, smart investors are still looking to markets to make return, even art or other collectible markets can provide those opportunities.
You are all over thinking. In an era of zero percent interest rates, art was attractive. Now I can put £100k in a standard bank account and earn 5%. The whole market is crashing down as recession hits and people need to sell to raise cash. It’s a race to the bottom and a buyers market for the next decade at least. Enjoy your framed doormats cos no1 is gonna buy them from you until at least 2032. 10 years haha right. There’s not been a recession in modern times that’s taken that long to recover from, you clearly don’t know your history or your economics. In terms of putting your money into saving accounts the issue you have is that it’s still being eroded by inflation which is higher than interest rates, smart investors are still looking to markets to make return, even art or other collectible markets can provide those opportunities.
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kai22
New Member
Posts • 101
Likes • 144
September 2022
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Anyone out there still buying art?, by kai22 on May 28, 2023 14:58:20 GMT 1, Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power.
You have failed to factor in inflation, the only reason interest rates have been going up globally.
In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases.
So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better.
Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power. You have failed to factor in inflation, the only reason interest rates have been going up globally. In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases. So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better.
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Anyone out there still buying art?, by The Greased Piglet on May 28, 2023 15:03:34 GMT 1, One thing a lot of the crystal ball gazer economists have forgotten to consider is the political cycle, two of the worlds biggest art markets (US/UK) have elections the back end of 2024 to early 25. I’d be willing to wager that there’ll be significant stimulus timed to coincide with these elections and both economies will move, no incumbent government wants voters going to polls feeling poorer. That’s why we are absorbing economic pain now so they can then loosen the reins in time for the elections. Based on this I expect a strong recovery in a number of markets starting in early-mid 2024. This also is in line with the fact inflation and energy prices are likely to have normalized by then.
One thing a lot of the crystal ball gazer economists have forgotten to consider is the political cycle, two of the worlds biggest art markets (US/UK) have elections the back end of 2024 to early 25. I’d be willing to wager that there’ll be significant stimulus timed to coincide with these elections and both economies will move, no incumbent government wants voters going to polls feeling poorer. That’s why we are absorbing economic pain now so they can then loosen the reins in time for the elections. Based on this I expect a strong recovery in a number of markets starting in early-mid 2024. This also is in line with the fact inflation and energy prices are likely to have normalized by then.
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Anyone out there still buying art?, by The Greased Piglet on May 28, 2023 15:10:31 GMT 1, Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power. You have failed to factor in inflation, the only reason interest rates have been going up globally. In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases. So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better. Exactly, guys who put their money in the bank need their head examined in any scenario. People who view it as a risk free investment also need to understand that this really isn’t the case certainly above £85,000 and $250,000 respectively. I still believe there is risk (albeit a small one) of a major bank failing and the government not stepping into cover all deposits, if there was a flash bank run that spread quickly they may not be able to save everyone, so bank deposits do come with some degree of risk and when you’re making a real returns that don’t even cover inflation it’s not a smart investment.
Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power. You have failed to factor in inflation, the only reason interest rates have been going up globally. In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases. So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better. Exactly, guys who put their money in the bank need their head examined in any scenario. People who view it as a risk free investment also need to understand that this really isn’t the case certainly above £85,000 and $250,000 respectively. I still believe there is risk (albeit a small one) of a major bank failing and the government not stepping into cover all deposits, if there was a flash bank run that spread quickly they may not be able to save everyone, so bank deposits do come with some degree of risk and when you’re making a real returns that don’t even cover inflation it’s not a smart investment.
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Jaylove
Junior Member
Posts • 1,596
Likes • 1,073
November 2016
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Anyone out there still buying art?, by Jaylove on May 28, 2023 16:47:08 GMT 1, Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power. You have failed to factor in inflation, the only reason interest rates have been going up globally. In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases. So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better. Don't be obtuse. I'm talking about TODAY, savers will be compensated rather than the last 20 years where the move was to invest in literally anything and borrow at low rates. Rates have increased greatly, less credit available. We are headed for a recession...may be huge, may be small...who knows. The best bet is to put your money in a savings account or GIC paying 6% and chilling. WTF would you buy art or housing? Both markets in massive bubbles and getting drained as we speak. Stocks, art, housing, why would an average Joe invest in such volatility when they can leave money in the bank, get some interest on it and then decide to deploy those funds when the market turns around? NO RISK! Which is the name of the game in a recessionary environment.
You can go buy $10K priced up print at an art gallery. I'll keep that $10K in a GIC and at least make some interest on it. Pay down debts rather than speculate on falling markets.
So when there was no incentive to save money, and invest it instead, people won't be forced to speculating. They can put their money in the bank and rest their heads.
Told folk this day would come and so I stopped buying couple years ago. I have so much art sitting on ice. Don’t know if I’ll ever get around to framing them. Art is a hobby for me. I don’t care about values or being able to flip. I buy what I like and frame it. Framing has gotten expensive and so I stopped. This is how bubbles work. Everyone jumps in and bids up pricing then pop. I want the prices to crash and sure I’m being selfish but crash it. Get all the jwckasses out and let the market rebalance. That means a lot of stuff I bought drops considerably but I don’t care. Never planned in selling. I’ll buy when the bottom is in. Sellers better sell now it’s not going to get any cheaper. 0% rates means your money is better served buying assets. Borrowing money at historically low rates to buy assets, no brainer. Savers were getting screwed with supremely low rates. 5-6% means your money is better served in the bank or other more productive assets. Savers win. Savers aren’t winning though are they? In the UK, savers are finding that they are losing 8-10% in purchasing power. You have failed to factor in inflation, the only reason interest rates have been going up globally. In the last twenty+ years we have either had low inflation with low interest rates, or high inflation with high interest rates. Which means the person with money in the bank is the loser in both these cases. So contrary to your assertion, actually it is buying assets like housing or blue chip art, which will serve you better. Don't be obtuse. I'm talking about TODAY, savers will be compensated rather than the last 20 years where the move was to invest in literally anything and borrow at low rates. Rates have increased greatly, less credit available. We are headed for a recession...may be huge, may be small...who knows. The best bet is to put your money in a savings account or GIC paying 6% and chilling. WTF would you buy art or housing? Both markets in massive bubbles and getting drained as we speak. Stocks, art, housing, why would an average Joe invest in such volatility when they can leave money in the bank, get some interest on it and then decide to deploy those funds when the market turns around? NO RISK! Which is the name of the game in a recessionary environment. You can go buy $10K priced up print at an art gallery. I'll keep that $10K in a GIC and at least make some interest on it. Pay down debts rather than speculate on falling markets. So when there was no incentive to save money, and invest it instead, people won't be forced to speculating. They can put their money in the bank and rest their heads.
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