Analysts in Luxembourg are predicting a “severe correction” to art market prices in coming months, drawing their conclusions from a compiled study of auction figures and trends. “A certain part of the art market, especially postwar and contemporary, is in bubble territory,” said Anders Petterson, managing director of the research and analysis company ArtTactic. “The really difficult question is to predict when the bubble might burst. I guess if you wait long enough, you will eventually be proved right.”
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