Global Art Market Avoids Crash - artmarketblog.com After all the predictions of doom and gloom that were made in relation to future of the art market during 08 you may have begun to wonder why the correction that is taking place isnít as bad.....
to withstand economic and financial downturns in the most significant markets for art such as America, Britain and France. There are now so many countries with strong or developing art markets that the number of countries whose art market is not effected by the financial crisis to the same extent as the top few countries is sufficient enough to prevent a total collapse of the art market and maintain the momentum of the global art market.
There are people that have said that these factors will not prevent an art market crash but it would appear that they have. Nothing was ever going to prevent a correction from taking place but I consider a crash and a correction to be two very different things and would challenge anyone who says otherwise.
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.