"only for thing people would legitimately like to have."
Whilst that may be true for the most part, much of the art dealt nowadays is never displayed, just stored somewhere incredibly tax efficient until it's value has gone up enough to warrant selling.
In that respect I suspect it is much the same as bored apes. The price can go up while there are people with funds to put into things they don't care about. When the time comes that they have less money than the cost of things important to them, the 'value' can swiftly evaporate.
Whilst that may be true for the most part, much of the art dealt nowadays is never displayed, just stored somewhere incredibly tax efficient until it's value has gone up enough to warrant selling.
https://theswisstimes.ch/unlocking-the-secrets-of-the-geneva...