«I LIKE MONEY ON THE WALL»

“Art has become increasingly monetized,” says the veteran New York art dealer Richard Feigen. “Wealthy people shying away from securities are now using art as an investment vehicle, an asset class — I mean, financial institutions are lending money on it now. One reason for this is simply the proliferation of money, the increased liquidity of the very rich. . . So we have an increased supply of money and a decreased supply of available art, which produces the kind of prices we’ve been seeing.”

-Washington Post

August 10 2012