Art is a high-risk business
Never before have so many people in so many places collected works of art. In the past decade, the auction houses in particular have made heroic efforts to expand their markets, both by reaching out to emerging economies and by embracing new technologies. Thanks to instant translation by online search engines and live online auction platforms, it is now as easy to buy a work of art offered by an English provincial auction house or a Manhattan dealer while sitting in Guangzhou as it is from Guildford. The international art market has become global, and art is now seen as an asset class for investors. Given the current performance of
