when covid happened gold prices, crypto and art prices went through the roof; now that the covid situation appears under control and markets have returned back to normal, everything is predictable again - it makes sense that art markets are taking a steep decline back to normal levels. Being able to hide assets during a time of //war/plague/market crash/comet strike etc// is a skill which will make a man great wealth if he offers the service to whoever is rich and still alive. It therefore seems logical that art markets and shows can mothball themselves for the time being.

Gold hit a record high priced in USD today.

> markets have returned back to normal

From my readings and general pulse checks, it’s quite the opposite. Old risk calculations have been thrown out, and there is no new normal. Everyone operates under the assumption that market is god, and it will be bailed out in case if things go sideways, so exposure to equity is high.