The month of September brought along with it the financial collapse of uncle Sam. Since Lehman Brother Holdings Inc., historical company active in financial services at a global level, announced its intention to file for Chapter 11, the procedure of “piloted failure” provided for by US law, a burdensome situation has been perceived and economists have seriously started questioning the future of the luxury industry. While ex employees were leaving the Lehman Brothers offices with their boxes, experts of the art market wondered what would happen in the future.
The main international economists are now claiming that the crisis of the financial markets, and the one of real estate markets, are definitely starting to affect also the art market. The economy is changing. Nobody can establish with precision which direction it will take. According to analysts next year will be comparable to the early Nineties, when prices fell by 44% in two years.
After a period in which auction houses registered a series of records, especially for contemporary art, which saw its prices multiplied in 2007, the wind has suddenly changed.
A similar situation to the one in 1989, a crisis that was overcome only in the mid-Nineties, with a fall back in 2001 when the Twin Towers collapsed, blocking for days the US financial system. Sotheby’s postponed to an unscheduled date its auctions in New York and the magnate of luxury Arnault supported Phillips. 

Last 1st June the world of fashion came to a halt to commemorate the death of Yves Saint Laurent, the French fashion designer considered one of the greatest fashion creators of the twentieth century who started his career at the Christian Dior maison to then found the homonymous label (Yves Saint Laurent) with his life and business partner Pierre Bergè.
His mark in the world of fashion and luxury remains recognizable and his name will always be symbol of style, becoming symbol of sophisticated but also innovative elegance.