Connoisseurs take back control of art market
By Souren Melikian | Published: January 9, 2009

LONDON: A new order is emerging in the art market and, in startling contrast to the broader economy, this calls for a celebration.

That art would follow a separate course in the current global crisis was bound to happen because a fundamental characteristic singles it out among all the goods that are traded. Each work is unique. One landscape by Monet does not equal another landscape by Monet and one Louis XV commode is not the same as any other Louis XV commode. The style, the condition, the aura derived from the weight of history or the lack thereof combine to give each one its specific set of characteristics that determine how desirable it is. And here is the factor that makes buying art fundamentally different from ordinary commercial transactions - desire, the combustible that fuels the art market engine.

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