The art market appears to be entering its cooling-off period. For the past six years, an influx of newly wealthy collectorsa��particularly from Chinaa��has pushed up prices for everything from Ming vases to Claude Monet, but now there are signs that the bidding paddles could come down hard.
The time is ripe for analyses, questions and predictions: Are artworks changing hands at higher prices than their real value? Has the bubble already returned? And will it burst? What impact will the uncertainty of the global economy have on the art market?
What is your wonderfully creative conceptual artwork worth without that flimsy, all-too-tangible certificate to authenticate it? In truth, nothing. Zero. Nada. Zilch. Conceptual art has the concept or idea at its heart; the media used to construct it is given secondary importance.