Notes From the Fieldby Martin Weil

November 12, 2015

Is The Art (Stock) Market Topping?

After a shocking $170M was paid this week for a not Picasso, Cezanne, or Monet, but a Modigliani, painting, many asked whether the white hot market for art was finally topping. The chart below from Marketwatch suggests that Sotheby’s own weakening stock price may not only be a proxy for declines in art prices ahead, but for US equity prices as well.  While essentially two cycles are a limited data set to infer this relationship, it is worth noting.

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