Is the Market Tanking?

  • The stock market's down, Sotheby's stock (the best proxy for the art & antiques market) has been cut in half, consignors are pulling pieces they had intended to auction. It's all pretty bad news, right? But then the auctioneers are saying that despite all the problems in the global economy their business remains robust. Do you believe them? There are ways to check them out, and that's what we do in this week's program. For those of you who believe that what happens at the high end in New York doesn't affect you, remember 2008 and 2009? Are we going back there? We all know that all markets are cyclical, and we know we've been in a 7year run up & up, and that in 2015 prices for art & antiques were at all-time highs. Is the cycle reversing? Andy Grove, founder of Intel, wrote a book entitled, "Only the Paranoid Survive." If that was true for Andy, then it's probably true for all us mortals. I'm definitely paranoid, but I haven't seen any decline in my business yet. So, what happens next? We'll make a stab at trying to figure it all out in this week's show. Hope you can tune in. We're on at the usual time 5PM PDT, 6PM MDT, 7PM CDT, 8PM EDT this Sunday, February 28, 2016. (Oh, My God, we're up against the Oscars! Tape them, watch us.) Gary