art market will begin to cool at some point in the near future which means that buyers will have to begin to justify their purchases and the amount of money they are spending on fine art. If an artist has not been through the traditional route of progression, and does not have the support of a strong private gallery sector, it is unlikely that they would be able to survive the justification process.
An influx of wealthy yet impressionable and uneducated buyers, combined with an art market littered with strategically placed artworks by unseasoned young contemporary artists whose work is seen as being “trendy”, is a recipe for disaster.
to be continued…………….
**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.