Art Market Plunge
There’s been a lot of commentary around the Art Blogosphere on the effect of the economy on the art market. Most welcome the prospect of sincerely getting back to the art instead of the market and how artist-initiated DIYs and underground ventures will fill the void as galleries close and it becomes harder and harder for artists to find exhibition opportunities. The tones range from worried or resigned to determined, hopeful and even gleeful. One of those who’s cheering is Waldemar Januszczak in the UK’s Times Online
This is one of the more entertaining reads on the topic. Here’s a couple of quotes to pique your interest:
“British art needs a recession for the same sorts of reasons that those forests in South Africa need the occasional fire: to strengthen their wood, to return to an essence, to get rid of the weeds and to regenerate.”
“The recession will also see the end, I presume, of the silly sums being spent here by foreign millionaires on third-rate examples of their national art. I don’t mind Chinese billionaires kidding themselves in Shanghai that their trite pop artists are worth squillions, but flaunting appalling nouveau-riche tastes at our auctions is embarrassing.”
Check it out here.