Capital Gains Taxes Are Hurting The Fine Art Market, But Not The Way You Think
This year’s New York art auctions disappointed. The $1.4 billion in spring sales were 22 percent lower than 2023, and off 36 percent from 2022, according to the industry publication Ocula. There is plenty of speculation about why, but one reason may be capital gains taxes. Under current law, the long-term federal capital gains