New Yorks Times Charts The Risks of Art in an Unregulated Market

June 10th, 2014

Damien Hirst's Gold Mammoth, via New York TimesThe New York Times writes on the state of the art market, noting the risks inherent in a market that relies partially on taste and the opinions of art advisors to determine market value and success.  “Art is an asset, not an asset class,” said Luke Dugdale, a private client wealth management director for the Royal Bank of Canada.  “If it were an asset class, the F.C.A. would regulate it, and that would kill the art world. It’s a market in which everyone can be an adviser.” 

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