The dollar is stronger than it has been in 20 years. According to the U.S. Dollar Index, its value was up almost 17 percent compared to six major currencies this month. The historic shift is making the next two weeks of art fairs in Europe all the more appealing for American collectors. For those outside the U.S., however, the economic headwinds are starting to burn—and requiring them to make adjustments.
“I am definitely feeling better about the cost of our hotel rooms, art handlers, install, transportation, and meals than I was back on August,” said New York art dealer Cristin Tierney.