Wise to Art

And it was all so predictable… (see my post of 22 September)

After the disorderly panic that ensued after the spectacular fall of the economy – the latter in more than one sense fictional and rather worthy that of the house of Usher – we have come far towards sobering up over art’s true value. Sadly, the only winner seems to be Damien Hirst, having conned the world at the ultimate moment.

Now, as a speculative fool having let yourself go in the cunningly orchestrated folly, what do you do now with your silly stuffed shark? Well, according to the Economist:

Edward Dolman, Christie’s chief executive told The Economist on December 18th. “We’ve seen confidence dwindle away. People are not certain where prices are. Buyers all round are being very circumspect.” Death, divorce and debt will continue to provide artworks for the auction market. But discretionary sellers, who don’t have to sell, are likely to want to sit it out until things improve. “We’re not predicting much discretionary selling at all next year,” Mr Dolman said.

Well, the incredibly brainless Hirst collectors are in for a long wait if they want to sit it out!

It is with great pleasure that one sees crap once again treated as crap and Hirst’s creations losing appeal. He will go down in history though, for all that incredible money that so astutely changed pockets for so little return … In my opinion, in a couple of years Hirst’s art will value two times zero.

If you bought something by Hirst, sell as quickly as you can ;)