May 13, 2009

Is flash giving way to substance in a “recalibrated” contemporary art market?

It wasn’t long ago, September 2008 to be precise, that the prices for work by big-name contemporary artists seemed to maintain their stratospheric heights and defy the crashing financial markets, most famously in Damien Hirst’s Sotheby’s sale in London that set new records even as the major stock indexes were in free-fall.That phenomenon is over [...]