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Bloomberg Television

Phillips CEO says art business is “perfect form of the market” #shorts 😘

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remember these these these uh pieces of work or these these assets if you want to call them that they don’t produce an income they don’t have a coupon associated with them the only income that you get is the appreciation it’s not like the stock market where you want to buy a share of Tesla and all the shares of Tesla are exactly the same whether it’s the first share the eth share the 1 million share it doesn’t matter they’re all the same that’s not true for art while each work of art is unique there’s a big business in bringing some clarity to the market and in bringing together the buyers and sellers enter Edward dolman well basically it’s a sort of perfect form of the market it’s the ultimate of of demand and Supply where the two meet with an Auctioneer in front of all our clients um who’ve come along to bid for the works of art that we’ve offered for sale

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