I spoke to a contemporary fine art dealer at one of the fairs about sales. He said they were expecting the higher end pieces to sell well, but that lower priced art (below five thousand or less) probably would not sell.
He thought this was due to the fact that the mid-range collectors have pulled back or are not as active, but that major collectors that had spent hundreds of thousands of dollars in the past are are spending less but are after mid-priced pieces for their collection.
So, the dealer thought the “sweet spot” were pieces priced ranging from ten to fifty thousand.
We’ll see. Go the fairs, such as the Armory and Volta on 82 Mercer Street in SoHo–its a very interesting art fair.
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