Kathryn Tully, Freelance Journalist on the Art Market

<p><span style="font-weight: 400;">The art market is big, unpredictable, and endlessly fascinating, not just to potential buyers and sellers but to art lovers the world over. The art market is also big business. One estimate put the sales number for 2021, the third-best year for sales on record, at $65.1 billion. Here to paint us a picture of the intersection between art and commerce is Kathryn Tully, who’s been covering the art market for 15 years.</span></p> <p> </p> <p><span style="font-weight: 400;">Listen in to learn about the fascinating art market and how you can be involved in it.</span><span style="font-weight: 400;"><br /> <br /></span></p> <h1><span style="font-size: 18pt;"><strong>Key Takeaways:</strong></span></h1> <p><span style="font-weight: 400;">[:21] Patricia O’Connell introduces Kathryn Tully, freelance journalist, and welcomes her to</span> <em><span style="font-weight: 400;">This is Capitalism.</span></em></p> <p><span style="font-weight: 400;">[1:14] Kathryn has been a financial writer since she graduated from college. Fifteen years ago, Kathryn started writing about the art market, around the time when she started freelancing.</span></p> <p><span style="font-weight: 400;">[1:30] Kathryn holds that too much of the press coverage is about big auctions of multi-million-dollar artworks sold in New York. It suggests prices always go up, which is not the case. The art market is a pretty difficult investment market.</span></p> <p><span style="font-weight: 400;">[2:02] Kathryn felt that writing about the art market enabled her to put non-nonsense articles out there that aren’t being written otherwise.</span></p> <p><span style="font-weight: 400;">[2:20] The multi-million dollar works that sell for high prices comprise a tiny sliver of the art market. There is incredible art being produced all the time that you would love to have in your home. Most art produced is not going to be sold for a profit. The art you buy devalues by 90% when you take it out the door, so you will not resell it at a profit.<