Through Art Market & You, Art From Us provides you Analysis, Opinion and Factual Reports regarding the current on-goings of the Global Art Market. In this article, we explore the early closure of TEFAF Maastricht 2020.
Our Director Divvya Nirula presents reports from the international art market with the view to assist our collectors, investors, and all lovers of art.
The novel Coronavirus (COVID-19) broke out in China towards the end of 2019. With Wuhan as its ‘epicentre’ the virus has spread across the globe. First shutting down corporations and cities, and subsequently entire countries. Life as we know it has ceased to exist. People are locked away in their homes. Consequently, the stock market is in limbo. This has brought about a virtual crash in the global economy. Further, governments have imposed country-wide lockdowns. Medical professionals are running helter-skelter to contain the pandemic. Right now even the availability of basic necessities is in question. Therefore, the luxury sector of course takes a massive hit.
The team and I have thus compiled a list of rescheduled and cancelled art events. These events are from across the globe. Coronavirus has certainly caused a great deal of damage in the art world.
The European Fine Art Fair is a one of its kind event specialising in Old Masters. It is held in both Maastricht and New York. This year, the Dutch edition opened on 7th March. However, things did not go as scheduled. One of the gallery participants tested positive for Coronavirus. Consequently, TEFAF shut 4 days prior to schedule, on 11th March.
Since the closure of the fair, many more visitors have tested positive for the virus.
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