The 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.”
Read more at New York Times
