Like any other market the art market as well have risks. What are the biggest risks to the art market in 2014? What is the very worst thing that could happen and would that send art prices plummeting? some of which are mentioned in an article by Kathryn Tully in Forbes.com. Among the different risks Tully mentioned you can find the followings:
- A fire or other disaster somewhere with a big concentration of art, such as the Geneva or Singapore freeport, could destroy up to $100 billion of art in one go.
- A dramatic event that affected art prices in one part of the world could affect prices everywhere.
- There is a very small group of collectors propping up the top end of several parts of the art market.
- In some areas of the market, the withdrawal of one heavyweight collector could have a devastating impact.
Read the full article in Here.
Interested in the Art Market risks? maybe you will like the following post: Lessons learned from the art market crash of 2008
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