Art prices set to surpass $200m

At the presentation of "Art, a Resilient Asset Class" this week at London's Haunch of Venison Gallery, a panel of experts including Hoffman discussed the art market's upward trajectory.

The panel, chaired by Scott Reyburn, art writer for Bloomberg, comprised of Hoffman, Oliver Barker, head of contemporary art at auction house Sotheby's, Karen Sanig, head of art law at Mischon de Reya Solicitors, and Anders Pettersen, founder of information provider ArtTactic, and Dennis Lavin CEO of wealth manager Vistra in Jersey.

Sanig added that the art market had proved itself relatively uncorrelated to the financial market, having bounced back within 18 months to new highs and several new records, partly due to the perception of art as a safe, tangible haven for wealth.

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