Art pricing is a pure confidence game — there are no - TopicsExpress

Art pricing is a pure confidence game — there are no fundamentals to anchor the price of a painting, because a painting doesn’t produce a stream of revenue. Emerging artists can be likened to start-ups, in that most eventually go to zero but one could become the next Jeff Koons. When an artist’s prices overheat, though, it can instigate a panic and cause his or her market to implode. Young artists momentarily heralded as the next big thing can just as quickly be tossed in the trash. nyti.ms/178jEBH

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