Could the art market be undergoing a fundamental restructuring?

In 2005, due to the timely convergence of several factors, the art investment story started gaining traction. A substantial increase in art prices sparked investment ambitions and led outsiders to take note. An excess of global liquidity and the allure of alternative investments combined to attract a new breed of buyer—the “investor-collector” and the “speculative-collector”. Taking stock of today’s art market, many observers are left asking (even in light of some recent high profile prices at the end of 2009): [...]