We discuss whether art auction prices (and in particular Sotheby’s stock price) is indicative of global overconfidence, or whether such data points add little, if any, value to macro investors. We also identify four relevant alternative data sources that can be leveraged by readers interested in incorporating such data into their decision-making processes.

^{Three of the most expensive painting sold in 2017 (L-R): Leonardo da Vinci, Salvator Mundi (c. 1500) sold for $450 million, Jean-Michel Basquiat, Untitled (1982) sold for $110.4 million, and Fernand Léger, Contraste de formes (1913) sold for $70 million}