Nobody really needs a painting. It's something you kind of create value for in a way that you don't with a company. It's an act of collective faith what an object is worth. Maintaining that value system is part of what a dealer does, not just making a transaction but making sure that important art feels important.

Naturally, liquidity is a big factor in any market that seems to be a lot of money in the world, and there's a lot of discretionary money.

Some people buy art because they're confident that it'll be a good store value, and this is kind of a recent phenomenon.

Larry Gagosian Quotes