Art Basel 2009: Recession appeal | The Economist
“Art Basel’s buoyancy this year has several causes: the return of fervent collectors who prefer to buy in a down market; the swift reaction of dealers willing to lower their prices to ensure a sale (collectors were in a good mood because “$100,000 means something again”); the perception that art is more solid than some other asset classes; and the keenness of many buyers to divert savings out of their Swiss bank accounts.”
