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Academics Say the Art Market Bubble Is About to Burst, Are They Right?

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Academics Say the Art Market Bubble Is About to Burst, Are They Right?

Is the art market bubble about to burst?
Photo: Spencer Platt via thefakefootball.com
A recent study published in the Journal of Empirical Finance from the University of Luxembourg predicts that the seemingly ever-growing art market bubble is about to burst.

Roman Kr´┐Żussl, Thorsten Lehnert, and Nicolas Martelin from the Luxembourg School of Finance applied a new statistical method of detecting bubbles to over one million auction records from 1970 to 2014, focusing their research on the Impressionist and modern, post-war and contemporary, American, and Old Masters sectors of the market.

Source: ArtNet News