new levels of art market delusion

"...Unfortunately, most of what I’ve been hearing has been only a slight variation of the above 'pretzel logic.' It’s kind of like someone who has their home on the market and refuses to adjust his price to the new reality. The seller has an emotional attachment to his property, leading him to believe that his home is different. It hasn’t gone down in value because it’s such a beautiful house, while his neighbors’ homes have declined in price because they’re not as nice as his..." THE PRICING ISSUE by Richard Polsky