(FB 1543759047 Timestamp)
ART ISN”T THAT HARD TO PRICE – IT’S HARD TO LIQUIDATE QUICKLY
—“…Value of art varies….”—
Hmmmm…. One can objectively compare art, particularly by triangulation. One can, with some skill, estimate its current market value by RANGE – dealers are relatively good at it. But doing so requires a rather great deal of knowledge of the pieces in the inventory whether on market or not. When talking of rarities (culturally, technically, or aesthetically significant pieces, or pieces from an artist), one has to understand the liquidity of customers and their incentives. Houses are less ridiculous, and more likely to take a loss, but follow the same general rules. Fashion less ridiculous than houses, but following the same general rules. Ergo, “All Stereotypes Are True”, “Class Stereotypes Are True”, “Taste Stereotypes Are True”, and one need only understand the relationship between Stereotype, Available Inventory, and Current Economic Conditions within that Stereotype. As in all economic questions, the more predictable the price range the lower the value of the service, commodity, product, item. Signal Value is Costly Regardless of Class.