«GOOD BUSINESS IS THE BEST ART»

Prices for blue chip and contemporary art will rise. In a down market, sellers are reluctant to part with material, which has the effect of boosting prices for the great works that do come up for sale. Older paintings, like Warhol and Francis Bacon, will do especially well, but don't look for stratospheric prices for the art darlings of the past eight years: the jury, and buyers, remain out. Museum acquisitions from far-flung players will contribute to the trend, notably new venues in the Persian Gulf, some of which have formed partnerships with Western institutions like the Guggenheim and the Louvre.

-Forbes
Dec 16 2009