25-07-2025
- Business
- Wall Street Journal
Why Andy Warhol Is No Match for Jay Powell—Heard on the Street
A bubble at the top of the art market has burst. Expensive paintings are proving to be more sensitive to interest-rate hikes than even sophisticated investors expected.
Auction sales of paintings that cost more than $10 million fell 44% last year, and continue to be depressed in 2025. Is weakness at the top of the art market a sign wealthy collectors are growing concerned about the future? Tariffs and economic uncertainty may be making them wary of tying up millions of dollars in illiquid assets like paintings. 🔎 Read more:
