Art market, Sell: collapse is inevitable, only the timing is uncertain

Had a good think about the art market. Time to sell.

It is clearly in an unsustainable bubble, with high prices for stuff often with low intrinsic value. It seems to be sustained mainly by the desire to avoid tax, and as globalisation catches up over the next decade, art prices will inevitably start to fall. Once they start, they will drop very very quickly. The last people holding the items will often be left with something that still looks pretty but is now worth a fraction of what they paid.

Think dotcom. Everyone knew it would collapse, but everyone kept buying for ages, and most gained because some sucker would always buy at an even sillier price tomorrow. No-one knew exactly when it would happen till it did, but one day, the price increase cycle stopped, followed by a huge collapse. The last one holding the dotcom stock lost his shirt.

Don't be the last guy. Don't get burned. Sell now before the collapse. If you like it, sell it now, buy it back later at a pittance.