Forbes identifies trouble ahead.
Speculating based on…what?
A valid concern. Since there is almost no correlation between the quality of a work of contemporary art and the value the culture industry places on it, it’s hard to gauge it’s long term potential as an investment.
Because ultimately what is being sold is not the art itself. What’s being purchased is what the ownership of certain types of contemporary art is meant to signify.
Appreciation of the dominant strains of contemporary art – conceptualism, minimalism, abstraction -is part of the package deal of elitism and political correctness. Embracing these forms of art flaunts one’s membership amongst the self-anointed upper crust.
Any old junk will do as the actual art object, as long as it meets the right criteria-concerns which are not even aesthetic in nature. The art market is saturated with the mediocre output of artists who fit the preferred demographics, who espouse the desirable attitudes, and above all, kiss the correct asses.
Of course the bottom is going to drop out of this market based on the false narratives of the establishment. All the better to prepare the way for the genuine expression of Remodernism, the true art of the future.