Art may be deemed democratic in theory, but that doesn’t always hold as true in practice. Collectors ran up a $5.7 billion bill at Christie’s in 2011, a notable 14% higher than its 2010 sales. It appears that the affluent have turned to Picasso and Warhol now that Morgan and Goldman are no longer dutifully holding up their end of the bargain with returns from stocks or other investments.
Collecting art has always been earmarked for a select few, typically reserved for those who tend to their Arabian horses or oceanside estates on the weekends. But Indiewalls, a new startup venture, is looking to change the way people think about art. Read More