When Things Are Optimistic, the Sky’s the Limit at Auction, Says Arts Economics’s McAndrew

The video discusses the dynamics of the art market, highlighting shifts from public auctions to private sales due to economic uncertainty. The US maintains its leading position due to wealth, cultural infrastructure, and a favorable regulatory environment. Political and trade changes, especially in the US and China, have significant impacts on the market. The Chinese market has contracted due to external economic and political factors, while regulatory changes in the US have shown how even minor adjustments can have substantial effects.

How did the uncertainty in the economy affect the auction sector compared to the dealers market?

What factors contributed to the US maintaining its position at the top of the art market?

What were the main impacts of political and international trade uncertainties on the art market?

In what ways did the Chinese art market behave differently in recent years compared to before 2012?

What regulatory changes affected the art trade in the US during the Trump administration?