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ECONOMIC UNCERTAINTY

BRINGS OUT BIG CHANGES IN THE ART WORLD Art is a curious asset class- often viewed as a discretionary expenditure by the world’s wealthiest people. In the 1970’s, 1980’s and even into the 1990’s, the art world was a very insular, small circle of private individuals and collecting institutions. It was a world inhabited by those with a passion for the art who largely amassed remarkable collections over the course of collecting for decades. From time to time, one would read about a collector whose collection was worth extraordinary amounts of money, but the art world was never pedestrianized, and it was always viewed as an insider’s game which required special connections for access
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