Sotheby’s (BID), the art-auction house, has always been a telling market indicator.
It often confirms the market’s direction when the stock and the indexes are in sync but more importantly it sometimes leads at the turns, not at the exact turns in the shift from bull to bear and back again but as a warning, often far in advance (see the chart below).
When BID is no longer in sync with the general market, it is time to question the market’s current direction.
I have written about this before in this link:
If the question is actually relevant, one could argue that when the rich quit buying art, it won’t be long before they are selling stock.