Global Financial Woes Impact Fine Art Market

In my world and that of most of my associates, fine art tends to be a museum outing rather than an auction purchase. Nevertheless, I've learned from folks with much deeper pocketbooks than mine that fine art is traditionally a financial safe haven for those who have money to invest in that type of purchase. Trends indicate, however, that our global economic slowdown has had a negative impact on the art market during the past few months, according to Artprice.com.

We'll see if the same holds true for pricey antiques as auction values trickle in over the next couple of months. Morphy Auctions held fairly strong as a number of pieces sold for excellent prices during their September auction.