The crash of the hospital art market ?

Alexandra Peers writes in the Wall Street Journal today:

The art market's crash -- for that is what it is -- threatens to remake the art world. In the past few weeks, auctioneers, dealers, artists and collectors have changed strategies and policies, and it's likely that future changes will be even more sweeping.

When hospitals buy art, they typically are not dealing with the "art market" that this article is referring to: auctioneers, dealers and collectors. For healthcare art there tends to be a different mix of players: art consultants, interior designers and the hospital administration. The only similarity between the "art market" and the "hospital art market" is the artists themselves.

But the threats for those involved in the "art market" will be equally challenging to those in the "hospital art market". Is the hospital art market also crashing? Time will tell.

The article, called "The Fine Art of Surviving the Crash in Auction Prices" Click here to read the article (registration required).