I had already expected this recovery and had denounced the early claims of an art market peak. In February 2017 I supposed "that the global art market will follow the stock markets and will reach record sales & prices as well" (driveby). In 2017 the US stock market, (represented by the S&P 500) gained 19.42% and the art market accompanied him. History shows that stock markets & art markets walk side by side. Art is not only bought by collectors, who love it and want to own it, art is also purchased by investors & speculators, who hope to sell it later for a higher price. Economic growth and gains on real estate & stocks raised the wealth of potential art buyers and encouraged them to take more risks.
I believe that both, stock market & art market, will continue climbing this year, fostered by a growing global economy and stronger investor optimism which are lifting all boats.
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