The art market is enjoying an 11-year boom, but could the summer credit crunch put a lid on the bids? The Negotiator and the Chairwoman team up to find out if investors should be ‘sold’ on this ultimate luxury trade.
Guy and Karen visited Sotheby’s (BID) auction house in New York to find that eager collectors from China, Russia and emerging markets are helping to prop up the high-end art market, which was bruised by the turmoil in the broader stock market this summer.
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Trader disclosure: On Oct 25, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke owns (INTC), (ATVI), (EMC), (YHOO); Najarian owns (UA), (DISH), (GOOG), (YHOO), (MSFT) Options; Finerman’s firm and Finerman own (GS); Finerman’s firm owns Russell 2000 Puts, S&P 500 Puts, (NMX), (NYX), (MSFT), (BEAS), is short (BIG), (MER); Finerman owns (C)