This article was originally written in November 2015. In 2015 we saw a stock market sell off brought on by depressed oil prices, uncertainly surrounding Greece, the Euro losing strength, global takeovers, and volatility of the Chinese market. While in 2015 I surmised the bad economy was good for art, this beast we are facing today is unlikely to have the same results. This financial crisis is much different and much bigger. I expect the impact of this US caused global crisis has people backing off from any major purchases including art, as people watch their investments free-falling. Add in inflation and soaring costs of living along with uncertainty about job security has them holding their wallets very tight. 

​I've been asking myself this question for awhile now. With the global price of oil being down the economy has not been in a good state. The media has daily reports of how the downturn in the economy is affecting other industries, especially retail and the sale of so-called luxury items, like real estate and vehicles. Yet, despite all the doom and gloom news about how consumers are being cautious and reigning in their spending, my sales have been better than ever. Paintings have been selling on a fairly regular basis - so good in fact that I'm starting to be concerned about the taxes I'm going to end up paying. 

I am not alone. Other artists have also reported increased sales this past year. Local art auction specialist Levis, in Calgary, Alberta, just finished a record auction seeing 91% of the lots being sold for record high prices, with many paintings selling for more the double the pre-auction estimates. With Calgary being the Canadian centre for the energy sector, their economy has been hit hard by the energy prices and drop in stock share prices. The expectation for this particular auction was not good, so the robust bidding and standing room only audience was a bit of a surprise. Or was it?

When the markets become unstable investment in more stable assets such as jewels, antiques, collectibles and art increase. These goods are viewed as tangible assets able to maintain long term value. This wouldn't be the first time investment in art increased while markets fell. In 2008/2009 art investment increased by 25%. The European Fine Art Foundation (TEFAF) 2014 Art Market report said 2014 global art sales broke all sales records and surpassed 2007's pre-recession levels with sales valued at over $70 billion US. 

Dr. Clare McAndrew, speaking on the report stated: “The art market reached its highest ever record level of sales with continuing strength in Modern and Post War and Contemporary art.  It continues to be a highly polarised market, with a relatively small number of artists, buyers and sellers accounting for a large share of value.  However, a promising trend counteracting this to some extent is the growth in online sales, which has encouraged a greater volume of sales in lower priced segments”. 

My little sales probably don't even factor into those figures, but the fact my records show increased sales is encouraging. While the rest of the world is full of doom and gloom, my fellow artists may be secretly celebrating their luck.  Besides a more stable investment, the other benefit to investing in art during bad economic times is that when all the news around us is depressing, you have a beautiful piece of art to adorn your house providing a piece of stability and well-being. 

I am sorry to announce that effective immediately I have halted art sales to the US due to your government's attack on our country. ICYMI Your president has levied an illegal on again off again 25% tariff to all goods from Canada to the US. He has used false narratives to justify it. Fentanyl coming from Canada, which is less than 1% of the US's illegal drugs, a mere 45 pounds in an year. And illegal immigrants; which while it does occasionally happen is minuscule compared to the border problems with Mexico. There was a loophole that BRIEFLY allowed some to fly from Mexico to Canada and cross the Canada/US border, but Canada quickly eliminated that loophole, and has taken other measures to secure our border (most of the illegal weapons and drugs come into Canada from the US).

He falsely claims the US has been subsidizing Canada. You have not. What he is twisting is that the US has a trade deficit with Canada (which is not the values he tosses around). A trade deficit occurs when a country imports more than they export. So what this means is the US imports more goods from Canada, than Canada imports from the US. However, if you take oil out of the equation, the trade deficit is reversed and Canada imports more than it exports to the USA. However, this is all just a smoke screen for the real reason your president has decided to attack Canada. 

Canada is a resource rich country. The US economy is not keeping up with the growth of China's, knocking it out of the lead of economic prosperity. Your president has openly stated on multiple occasions that he plans to make Canada (a sovereign Commonwealth nation) the 51st state. He claims Canadians want this. We DO NOT. He has indirectly threatened our military safety. He has said Russia could do whatever they want to Canada and the US would not interfere. He has abandoned agreements with most allied countries in favour of Russia. He has stated if we surrender to his idea of us becoming a US state we would have the US's military protection. I would urge Americans to read up on Canada's roll in all major wars and how we have been an ally to the US on many, many occasions. He has stated we would have lower taxes. We would not. We would also lose our world renowned social securities like healthcare, maternity leave, social security, pensions, workers rights, and most importantly our human rights and protection of minorities and vulnerable populations. There is no Canadian who would want to become an American citizen and lose our national identity as one of the freest and best places to live in the world. 

Let's make no mistake that the language your president is using has ended the relationship of friendship and peace between Canada and the US. He has violated the trade agreement that him drafted and boasted was the best agreement in the history of agreements. He has greatly insulted and maddened peace loving, kind Canadians. 

For that reason I will not allow my art to be sold in the US. I have many dear American friends and collectors who I am so grateful for. This is not a decision made lightly and will cause me hardship as over 50% of my art sales are to US collectors. However, I can not allow a single penny from the sale of my work go to your current government whose behaviour to date has been disgusting and alarming. 

I fear for you dear American friends. As the tensions between our two countries escalate, which they surely will; as you feel the economic impact of what your government is doing to you and us, I will be encouraging you to resist and fight your own government. I hope this spat will not escalate and be short lived. I am sorry things have ended up this way.