Quote:
Originally Posted by Snapolit1
To quote the old Wall Street adage, trees don't grow to the sky . . . .
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Toward it, but the market is often prone to trends in aesthetics as well as the same financial pressures of the overextended. I think the story more shows that Christies has made some massive mistakes in estimating growth that will cost them dearly.
If I was a seller of a period that I would know is not in vogue at the time, you can bet I would be taking advantage of such poor estimation. Christies would be at the top of my list. I think this will be a time of realization in the market as moneyed Boomers liquidate collections built in the 80's and 90's focused on MCM looks that could swamp the market. I would not be surprised to see not just the equalization of returns to purchased price, but possibly losses in those areas.
As for the high growth modern and pop, still waiting to see what the dip in crypto holdings do to logically slow even liquid capital entering the modern market. Will those losing money hold, or will it be a sell off? I think the exotic car market (6-7 figure cars) is showing signs of this impact, will art?
It's hard to say, as the wise money makes serious cash in a recession. As the cash strapped sell luxury items low to gain liquidity. The insular investor with large capital is the buyer, a cycle we see over and over in these times when wise millionaires turn to billionaires in the future. They snatch up Blue chip investments at the bottom, stocks, real estate, collectables, etc. and wait for the inevitable return for the profits.
As I personally believe that the peak recessionary period will come next spring/summer, it will be an interesting dynamic to watch. This could be waylaid by the election results however as my financial prognostications always love a split government as gridlock tends to pause wasteful spending and poor policy choices in any administration. Things could possibly not be as bad as it seems, but like all predictions or honestly guesses...that could be horribly wrong just as easily, lol.
11-22-2022, 09:16 AM
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