Monday, 22 March 2010

Bonfire of the Vanities - BON INT No.13

Excerpt from Feb 08 article in Bon International No.13 on art trends.

Art is just so hot right now. Exorbitant amounts of money have been flooding the art market, rocketing prices to out-of-this-world levels. With sales reaching an all time high, auction houses are breaking their records again and again, and the phenomenon of the art fair continuing to expand at a ridiculous rate. Yet the dollar is getting weaker by the day. We wonder when (rather than if) the art bubble will burst.

So far thought, the new money has opened up a wealth (excuse the pun) of new opportunities for the arts establishment and – ultimately - for artists. Coupled with ├╝ber-collectors realizing the effect and importance of their exuberant support on the art market today, there was never a better time to be creating work. That is, as long as the money monster doesn’t get the better of some artists.