Skip to content

boom boom, out go the lights!

February 14, 2009

[NYTimes] The contemporary art market, with its abiding reputation for foggy deals and puffy values, is a vulnerable organism, traditionally hit early and hard by economic malaise. That’s what’s happening now. Sales are vaporizing. Careers are leaking air. Chelsea rents are due. The boom that was is no more.

Anyone with memories of recessions in the early 1970s and late ’80s knows that we’ve been here before, though not exactly here. There are reasons to think that the present crisis is of a different magnitude: broader and deeper, a global black hole. Yet the same memories will lend a hopeful spin to that thought: as has been true before, a financial scouring can only be good for American art, which during the present decade has become a diminished thing.  (read article)

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: