The Bubble Will Burst. But Let’s Define “Bubble.”

“If a bubble, or bubbles, exist in the fine arts–as opposed to the decorative arts–it is in the highly-touted trendy contemporary market; in the late 19th and 20th centuries; and in markets that appeal to Russia and the newly super-rich Asian countries. The 16th and 17th century Italian, French and Flemings; the 18th and 19th-century British; and the pre-Impressionist French have been forgotten in this inundation of liquidity into the art market.”