Problem

Inflated art values

Other Names:
Prohibitive cost of art
Over-valuation of art
Nature:
Huge amounts of disposable income in the USA, Europe and Japan have created a global art market where prices have reached obscene levels of tens of millions of dollars. New kind of buyers have appeared: speculators who buy, wait for prices to jump, then sell.
Reduced By:
Bad taste
Related UN Sustainable Development Goals:
GOAL 12: Responsible Consumption and Production
Problem Type:
F: Fuzzy exceptional problems
Date of last update
01.01.2000 – 00:00 CET