Well, there’s art and there’s what’s right. I’m gonna do what’s right.
In 2008 just over $270m-worth of art by Damien Hirst was sold at auction, a world record for a living artist. By 2009 Mr Hirst’s annual auction sales had shrunk by 93%—to $19m—and the 2010 total is likely to be even lower. The collapse in the Hirst market can partly be ascribed to the recession. But more important are the lingering effects of a two-day auction of new work by Mr Hirst that Sotheby’s launched in London on September 15th 2008. (…)
Miuccia Prada, an Italian designer and longstanding Hirst collector, for example, spent £6.3m acquiring a trio of Mr Hirst’s trademark animals in formaldehyde: “The Black Sheep with the Golden Horn”, “False Idol” (a calf), and “The Dream” (a foal made to look like a unicorn). “I think it was an incredible conceptual gesture, not a sale,” she says. (..)
The Mugrabi family owns some 110 Hirsts, including an installation that features 30 sheep, two doves, a shark and a splayed cow in formaldehyde. The Mugrabis offered $35m for the artist’s diamond skull, “For the Love of God”, but failed to secure the work that was marketed at $100m and has never sold. “The Mugrabis rarely buy directly from me,” says Mr Hirst. “We can never work out a deal because they want such fierce prices.”
The Mugrabis liken the tumble in Mr Hirst’s secondary prices to Andy Warhol’s in the early 1990s.
{ Economist, 2010 | Continue reading}
His jam-packed 2000 Gagosian exhibition of medical equipment, anatomical models, live fish, pharmaceuticals, floating skeletons, and fake cut-up cadavers showed Hirst to be an artist whose No. 1 urge is to make a wow. Sadly for him, that urge got the best of him, turning him into a brand name and self-parody. By 2005, we saw Hirst the stagy photorealist making banal, insipid images of Iraq, autopsies, and bits of brains. Then there was a failed series of academic-looking Francis Bacon–like paintings. Finally, there was that $100 million diamond-encrusted skull. At the time, it seemed interesting, even though the object itself was visually dead. Now it only seems like a dull, neo-imperialistic bauble. He’s making mostly exhibitionistic schlock these days.
