一个世纪以来艺术公牛跑到了戏剧性音符并出售damien考研阅读强化2010t1.pdfVIP

Thelongestbullruninacenturyofart-markethistoryendedonadramaticnotewithasaleof56worksbyDamienHirst,

“BeautifulInsideMyHeadForever”,atSotheby’sinLondononSeptember15th2008(seepicture).Allbuttwopiecessold,

fetchingmorethanā70m,arecordforasalebyasingleartist.Itwasalasthurrah.Astheauctioneercalledoutbids,inNew

YorkoneoftheoldestbanksonWallStreet,LehmanBrothers,filedforbankruptcy.

Theworldartmarkethadalreadybeenlosingmomentumforawhileafterrisingvertiginouslysince2003.Atitspeak

in2007itwasworthsome$65billion,reckonsClareMcAndrew,founderofArtsEconomics,aresearchfirm—doublethe

figurefiveyearsearlier.Sincethenitmayhavecomedownto$50billion.Butthemarketgeneratesinterestfarbeyondits

sizebecauseitbringstogethergreatwealth,enormousegos,greed,passionandcontroversyinawaymatchedbyfewother

industries.

IntheweeksandmonthsthatfollowedMrHirst’ssale,spendingofanysortbecamedeeplyunfashionable,especiallyin

NewYork,wherethebail-outofthebankscoincidedwiththelossofthousandsofjobsandthefinancialdemiseofmanyart-

buyinginvestors.Intheartworldthatmeantcollectorsstayedawayfromgalleriesandsalerooms.Salesofcontemporaryart

fellbytwo-thirds,andinthemostoverheatedsector—forcontemporaryart—theyweredownbynearly90%inthe

yeartoNovember2008.Withinweekstheworld’stwobiggestauctionhouses,Sotheby’sandChristie’s,hadtopayoutnearly

$200minguaranteestoclientswhohadplacedworksforsalewiththem.

ThecurrentdownturnintheartmarketistheworstsincetheJapanesestoppedbuyingimpressionistsatof1989,

amovethatstartedthemostseriouscontract