GLOOM BOOM & DOOM REPORT, Spring 2009

DEPRESSION ART (excerpt)

There has never been a better time to start buying art than today; in fact, this could be a once in a life opportunity. Never has art been so broadly based and global in reach: the array of available works from Africa to the Middle East to every corner of the globe is enormous and of better quality that at any previous point in history. Even more alluring than the art itself is the fact that galleries are hobbled by the recent economic slowdown so much so that collectors, for the first time in nearly 20 years, can call the shots with regard to prices, i.e. demanding discounts—substantially greater than in the past, to a degree not seen...if ever. And to top it all off, recession art is frequently more engaging than art made to feed a voracious market. Maybe a depression is not so depressing.

Kenny Schachter

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