Still, whatever the method, the art goes back into circulation to its next temporary custodian. We have heard a lot about investing in art. The auction hype and the bull market of the 1980's made some people feel that art was a commodity, but there also seemed to be the perception, that unlike stocks, art should only go up in value. It has proven true that if you could get the goods there would always be clients to buy them, even during recessions or world wars. A century later one hears the same sort of lament from colleagues in the trade.
Acquisition remains the most important and challenging part of the business.
We are often asked where do we acquire art. My response is that there is no one way, and that is the fun of the business. Of all the changes that I have seen the one that I find the most unfortunate is that the deal often seems to be more important than the art to many buyers.