Is The Russian-Fuelled Art Boom Due For A Fall?

There’s no longer any doubt that Russian collectors have been fuelling a major art boom on both sides of the Atlantic. But how long can this particular bubble last? “The last time the market hit such heights was at the end of the 1980s, followed by a crash that saw New York’s SoHo, then the city’s main gallery district, end up a ghost town… According to current wisdom, this boom is safer because the new globalised market means more stability. The last boom was all about one economy, Japan’s, so it was snuffed out when that economy collapsed. But the new markets could be as yet too new and shallow to rely on.”