10:19 25 November 2023
Polish art prices will catch up with the West
The Polish art market is the last in the economy that is not adjusted to Western market conditions. Since it must "catch up" to the conditions prevailing in those markets, we should expect price increases, which are already beginning to be visible, said Iwona Wojnarowicz, president of the Common Arts Foundation (CAF), in an interview with ISBnews.tv. She emphasized that the prices of 20th-century art are particularly undervalued in Poland – and here "very large value increases" are possible.
"The art market is an element of global markets, not only related to art. If we have real estate in Poland, in Warsaw, at similar prices to the West; if we have luxury goods, such as cars, alcohol, and clothing at similar prices to the West, and art in Poland is still much cheaper than art in the West - it means that this market simply must 'catch up' to the Western market because the market does not tolerate this inequality gap," Wojnarowicz said.
(ISBnews)
