Tuesday, May 15, 2012

Has the Art Market Lost its Mind?

These are crazy times, so why should the art market be immune? However, there’s madness and then there’s sheer madness. Only half over, the month of May 2012 might go down as the maddest month in art market history (at least until the next spate of insanity). Kicking off with the purchase of a pastel version of Edvard Munch’s The Scream (detail of another version shown above) for a new auction record of $119.9 million USD, the irrationality has risen seemingly day by day. Why in the midst of a global recession is the art market booming? Has the art market lost its mind? Or should we all be screaming over how this boom is even possible? Please come over to Picture This at Big Think to read more of "Has the Art Market Lost its Mind?"

[Image: Edvard Munch. The Scream (detail), 1893.]


Hels said...

Irrationality in the art market HAS made itself totally apparent, but wasn't it always thus?

Some long time ago, El Greco and Rembrandt couldn't sell a single art object to feed themselves :( Both artists were thrown into paupers' graves when they died.

Anonymous said...

nice posting.. thanks for sharing..