Last year saw the fierce return of the broader art market: a market that finds itself more savvy and evolved than before. Maybe in these past few months you bought a loved one something from the November sales, for a birthday perhaps. Phillips de Pury and Mr. Segalot certainly proved themselves to be an alluring draw. Maybe someone bought you something from Art Basel Miami Beach, which was relatively conservative this year. Maybe you bought yourself a multitude of gorgeous prints from ArtStar.com.
Art has bounced back, and with a great deal of vigor. As we’ve been told many times before, now more than ever, art is seen as a viable asset. Concerned by the VIX, worried by the dollar, and all out petrified by the PIIGS, investors found themselves more and more flush with cash, but almost nowhere to invest. It turns out putting your money over the sofa is much more fun than under the mattress.