A week before the opening of Gagosian’s latest space in his gallery chain, a 17,760-square-foot gallery in northern Paris at the Le Bourget airport, the art dealer talks to The Wall Street Journal‘s Kelly Crow about the mood in the market, how he caters to different tastes at his 12 galleries around the world, the “home run” at the ArtRio fair and the difference between art and luxury goods.
It’s well worth a read in its entirety, but here’s one bit to whet your appetite:
Where are you putting your money beyond the art market?
I don’t own stocks, never have. I don’t understand it, and I’m not comfortable making paper investments. I have clients who run hedge funds who ask if I want to get involved, but it doesn’t work for me. Basically, I have art, some nice real estate and I like to have money in the bank. I can still make mistakes with art, but at least I can learn from it. If I make a mistake in the financial markets, chances are I’ll make it again. I stick to what I know.
Oh, and though it’s located at the Paris airport, Mr. Gagosian says, “It’s not duty-free.”