The Resell Value of This $100,000 USD Painting Says a Lot About the Art Market

Intending to flip the artwork for a quick profit, art collector and dealer Niels Kantor purchased Hugh Scott Douglas’ canvas “Untitled” for $ 100,000 USD. The artwork goes on auction today for $ 20,000 USD, a whopping 80% discount. “I’d rather take a loss,” said Kantor, comparing it to “a stock that crashed.” The auction market in 2014 saw collectors buy process…

Via: HYPEBEAST

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