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October 03, 2007

Uli Sigg from MOMA on the Subprime loan crisis and art!

OK.. We know..we're beginning to sound like a stupid broken record..

  • The US Economy is going down the dumps..
  • Real Estate Assets are crashing world wide..
  • The U.S. Dollar is at an all time low
  • Oil & Gas prices are at a record high
  • but the last round of Art Auction prices held up pretty damn well, and
  • NYC Galleries are still ringing the cash register off to the sales races again this Fall...every mediocre show we've see is totally sold-out!

Warhol_car_crash But at least, we've found yet another wise person who's thinking in the same warped Art Obsession way as MAO!!

(Photo by Andy Warhol, Pink Car Crash)

Here's a Video Report on Bloomberg news today.. Click Here.. then hit the orange TV Icon on the right side of the screen to view the Media on Demand Video!!

Here's the news intro to the Video...

      Oct. 3 (Bloomberg) -- Uli Sigg, a member of the International Council of
the Museum of Modern Art in New York and the International Advisory Council of
the Tate Gallery in London, talks with Bloomberg's Catherine Yang from
Singapore about the impact of the U.S. subprime loan crisis on art investment,
the outlook for China's contemporary art market and galleries. (Source:
Bloomberg)

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What's with Bloomberg saying that dude is "of MoMA" in their headline (on their webpage) and you saying he's "from MoMA" in yours? Does he draw a salary? Is he a trustee?

The International Council at MoMA is a membership / invitation only group. Granted, it's for rich folk but that still doesn't mean that kind of MoMA designation should be used.

MAO You are such a little Nancy Negative!!

The art market is doing fine, and will not crash. Rich people are still very rich. They still need to impress all their friends with expensive art.

So what if some hedge fund dope lose money.. Billionaires from Russia, and China will just fill their role.

And don't forget Canadians! Lately, when I come back from a weekend in New York, the lines at the border are 10 times longer than last year. Why? Because everyting in the U.S. is cheap now.

Top Callers are always early Mao. You won't start seeing major effects in the art world until 2008. When people finally start to get the message. I'm expecting my art collection will drop in half in value. --- roughly back to what I paid for everything... oh well.

I will settle this arguement once and for all. The art market is not going to crash but the high end of the market will experience a correction. Done and Done

And people held on to their jewels as the Titanic sunk.

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