par David, Geraldine ;Euwe, Jeroen ;Goldman, Noémie ;Oosterlinck, Kim
Editeur scientifique Fleckner, Uwe;Huemer, Christian;Gaehtgens, Thomas
Référence Markt und Macht. Der Kunsthandel im “Dritten Reich, De Gruyter, Ed. 1, page (27-48)
Publication Publié, 2017
Partie d'ouvrage collectif
Résumé : This paper analyses the evolution of the art market in occupied countries during WWII. The three main markets, the French, the Dutch and the Belgian, experienced a similar boom with both artworks prices and the volume of sales reaching exceptional values. The paper suggests that this price boom was due to the German increase in buying due to the almost unlimited means at their disposal, as well as the effects of the economic exploitation of the occupied countries. The occupied economies of the three countries shared many features: high occupation costs, high inflation, financial repression (with the state trying to limit investment opportunities to redirect funds towards state bonds), black markets and rationing. People invested in assets which they believed would hedge them against inflation. Rationing limited the real goods available and favoured the ones with no control such as artworks or collectibles. Furthermore, black marketeers were seeking goods which would not lead to extensive scrutiny after the war, putting an additional buying pressure on the market.

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