Where do art and finance markets meet? | Mari-Claudia Jiménez & Josh Baer

it seems to most people counterintuitive

how strong the art market's been

since the start of the war in ukraine

and wall street dropping 20

what's your perception of that i think

we continually see a lag and sort of a

disassociation between the market and

the art market because people are

continuing to look at art not just as a

passion purchase but also as a way to

diversify their assets so when wall

street is going down art stays

relatively steady by comparison it may

not go up as high perhaps as the market

does but it also doesn't dip quite as

low and picasso is never going to go

from being worth 50 million to zero and

you do see that obviously with you know

bitcoin and some of the stocks that

we're seeing that have like taken

prisoners and your liquidity could go to

zero well that's that's when it catches

up right so i think what we typically

see is

there's a disassociation and then

there's a six to twelve month lag and

then when liquidity starts being

affected and people don't have the cash

to buy art then the art market starts to

dip in in connection with the uh with

the stock market so you're aware that

corrections have always come

but trying to time it

is difficult exactly and you know

sometimes it the the market quickly

bounces back up and then there never is

a our market lag and

now

where do you see it

you know the economy is funny all these

kinds of things do you see a change

coming now you're saying that they're

risk-averse

i'm guessing that the appetite for

guarantees is not yet started

too strongly from any of the auction

houses from november it hasn't changed

as far as we're concerned we're still

very happy to guarantee works i think we

are as entrepreneurial company as we

ever have been and i think that's really

the way we view it we're sort of part of

the risk taking we're taking an

opportunity and looking at it in a you

know as a possibility for us to make

money for the client but also to make

money for the house it's an interesting

point as an opportunity because i'm not

sure the competitors

are willing to write guarantees it's not

late june for november

waiting to see how things settle

so if you're willing to do that risk you

might get

some place first absolutely is that part

of the the strategy at the moment

without question i think that like i

said we have new ownership that is

really excited about partnering with

clients on things and really being part

of the business and taking risks and

that's that's just part of how have you

already signed things up not that you

necessarily tell them as yet for

november or for the fall that might have

been a competitive situation and because

you were willing to jump in guarantee

wise it's possible we may have we may

have embarked on some strategy like that

and how big do you see the nft world as

being part of it i mean it's sinking

crypto sinking

the actual pool of buyers may be much

smaller

than we believe

but some people see that as the future

what i think we're seeing is nfts

evolving they are not necessarily the 69

million dollar people anymore they're

more about volume it's more about the

natively digital works and how many

works you're selling and less about the

one star work that ends up selling for

many many many many but the volume is

sort of circulating back and forward i

think the average hold time is like 30

days yeah i mean and it's like pro to

road to road to road to road a bro it's

like the old joke of how we did like 20

million dollars worth of business it's

only the same thing back and forward

pretty much pretty much yeah

do you see women coming into that area

we have seen some women i mean i think

it's still primarily a male-dominated

area as as bitcoin is as well and all of

crypto is but i think we are seeing an

increasing number of women who have

begun to dabble in it but again it's at

this moment it's obviously an unstable

moment given the situation with crypto

market