STATE OF THE ART MARKET

«Another factor driving the art market is the idea that blue-chip art is still undervalued compared to other assets such as prime real estate. Look at this way: $17 millions may sound like a lot of money for the giant Warhol Mao last november at Christie's. But it's reasonable compared to the price of a medium -sized office building in Manhattan. And the mao is infinitely rarer than office building in New York."


-Richard Polsky
Artnet
April 2007