What's the scrap value of this much bronze?
Now that he’s evicted his family’s beloved pet pig and installed his new $141 trophy in said pig’s old room, Steve Cohen may be feeling pretty pleased with himself. We can only hope his unerring aesthetic eye can appreciate one of the great 20th-century sculptures when it’s worth less than his unwanted apartment.
The correlations between the art and the markets are eerie, closely tracking each other, often times all the way up — and then right back down as the artnet chart shows.
This could be much more than your plain-vanilla 10 percent to 15 percent “correction,” say other prognosticators who spot negative signals in today’s stock market. Prices could conceivably drop as much as 50 percent or more on some items, some analysts think.
$141M sculpture may ‘point’ to top [N.Y. Post]