Kenny Schachter critiques the art market's doomsaying media narrative, coining the acronym Salsa (Scribes Always Love Sensational Apocalypse) to describe clickbait-driven hype. He contrasts current market anxieties with past downturns, notably the 1991-1996 recession when the market evaporated, citing a 1991 Roberta Smith article. Schachter observes that the Nahmads and Mugrabis, once feuding families, now invest together, and he recounts his experience at Phillips during his "Hoarder 6" exhibition, where young collectors showed genuine interest. He argues that the market, though wounded, remains healthy and calls for a less transactional, more patient approach to selling art.
This matters because Schachter, a veteran art-world insider, offers a contrarian perspective that challenges prevailing panic about the art market's decline. His emphasis on cyclical market behavior and the enduring passion of younger collectors counters narratives of generational disengagement. The piece also highlights the need for structural change in art sales, advocating for generosity and education over transactional speed—a timely reflection as the market navigates post-pandemic shifts and tariff-related uncertainty.