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An art market expose
  
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Matt_Zukowski
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PostPosted: Nov 25, 2013 03:23    Post subject: An art market expose  

Many have talked of the parallels, or increasing parallels, between our hobby and the art market. With this in mind, you may want to read this recent article in the New Yorker:
https://www.newyorker.com/reporting/2013/12/02/131202fa_fact_paumgarten
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bob kerr




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PostPosted: Nov 25, 2013 09:09    Post subject: Re: An art market expose  

VERY appropriate "parallel" article!! I personally do not participate in the high dollar mineral transactions discussed in the article but I think "letting the players play" is EXTREMELY valuable to us small collectors ($100-$500 specimens) as beautiful specimens in my price range become readily available when people mine for the trophies! without the top end people driving specimen specific mining, we in the lower end would not have much to pick from - so let them play!! you don't have to participate in that ego driven world.

One other important point - THE root cause of the 2008/9 financial crisis was the opinion (dare I say "knowledge") that the price of houses CANNOT go down. once this attitude is engrained, all sorts of outlandish things can happen - and did happen. can this happen in high end minerals? an emphatic yes - but it seems for the foreseeable future - with the large Chinese participation - there appears to be no end in site.

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Matt_Zukowski
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PostPosted: Dec 09, 2013 02:49    Post subject: Re: An art market expose  

Another article on the art market was recently published in the NYTs:

https://www.nytimes.com/2013/12/07/business/record-prices-mask-a-tepid-art-market.html?hp&_r=1&pagewanted=all&
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The thesis of the article was that while we all hear about record prices for art objects, the fine art market has not been doing all that well. They cite an interesting index, the Mei Moses World All Art Index, which, like the Case-Shiller index for real estate, is a repeat sales index (comparing repeat sales of the same artworks). This seems relevant to us because:

1) What happens in the art world may well herald what happens in our world.
2) I wish we had a Mei Moses World Index for mineral specimens.
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Pierre Joubert




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PostPosted: Dec 09, 2013 06:00    Post subject: Re: An art market expose  

Matt_Zukowski wrote:
Another article on the art market was recently published in the NYTs:

https://www.nytimes.com/2013/12/07/business/record-prices-mask-a-tepid-art-market.html?hp&_r=1&pagewanted=all&
(link normalized by FMF)

The thesis of the article was that while we all hear about record prices for art objects, the fine art market has not been doing all that well. They cite an interesting index, the Mei Moses World All Art Index, which, like the Case-Shiller index for real estate, is a repeat sales index (comparing repeat sales of the same artworks). This seems relevant to us because:

1) What happens in the art world may well herald what happens in our world.
2) I wish we had a Mei Moses World Index for mineral specimens.

Hi Matt. It is my opinion that most who buy these extravagantly priced art work, do so to make a statement. Isn't that pretty much the same in the mineral world? I find that there are lots of 'bargains' for those who do not mind the 'lesser' (sometimes better) artworks and mineral specimens. It is good to shop around instead of having a 'herd' mentality'.

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lydiamelson




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PostPosted: Feb 22, 2021 12:16    Post subject: Re: An art market expose  

Thanks a lot for sharing this parallel article. Learned quite a lot there. Looking forward to more of this.

Well done!
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