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The Blumquake & The Next Shoes to Drop

Tim Blum’s shocking-but-not-surprising decision to call it quits is a signal of bigger changes afoot—not just the apparent anhedonia of the collector class, but the profound effects of financialization on the art market.

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Tim Blum
Last night’s news inevitably prompted several people to predict the next dominoes to fall, and decry the problems with the underlying system that led to Blum’s exit—ranging from concerns about the financialization of art to the impact of third-party guarantees on the secondary market. Photo: Hannah Mjølsnes
Marion Maneker
July 2, 2025

Tim Blum’s decision to step back from owning a retail gallery with multiple locations, representing artists and their estates, as well as dealing in secondary market works, has already provoked a flood of reactions in my inbox. The news was, in our current all-too-common parlance, shocking, but not surprising.

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