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I came across this article on National Jeweler (although its not just for jewellery but all luxury goods) -  

http://www.nationaljeweler.com/nj/independents/a/~27893-Ostentation-out-value-in-for

that is worth a read.  Based on luxury consumer confidence and spending research it basically says that there was a 15% decline in luxury spending amongst affluent customers in Q4 2011 continuing the trend from the last couple of years.  Those that are spending are making less ostentatious purchases and looking for high quality and less extravagant prices.

Worth a read since most of our art is a luxury item.