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WHEN GEKKO COLLECTS ART

The intersection of art and �nance
BY STOYAN V. SGOUREV

A
SHARE rt is remarkabl popular these das. When I tell people that I am an
academic working on the art market I often get an approving nod of the
head that almost makes me feel like I am doing something meaningful with
m life. But one also starts suspecting that the art market ma be becoming a bit
overexposed when ou hear opinions on the merits or sale price of a Leonardo
painting while having our hair cut. There are few other markets, except for those
relating to technolog, that has grown so spectacularl over the last decades – not
simpl in terms of the actual size of the market, but in cultural prominence. Art has
entered the realm of the collective unconscious, exhibiting a cross-generational pull that
bodes well for its future. It is not simpl that the superrich are lavishing millions on paintings
– it is also the increasing attendance at museums worldwide that is pointing to a thriving
economic sector. The Louvre has broached the mark of 10 million visitors per ear, New York
museums are charging $25 per ticket, et the constant flow of visitors is showing no sign of
abating.

I had firsthand experience of that combination of cultural edginess and a trending market

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IDEAS JOURNEYS INTERVIEWS COLUMNS

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