Tuesday, September 16, 2008


The American financial industry shook on Monday....Who will be next.

As midnight approached on Sunday the world anticipated a bankruptcy filing from Lehman Brothers.
Shares in AIG tumbled more that 60% on Monday and have requested a $40 BILLION loan from the Fed. And Merrill Lynch rushed to the breast of Bank of America...DAMN
Just think of all those account executives who have a spot or spin painting hanging in their condo. What happens when they cannot find work, they will try to sell their expensive stuff. Maybe you will be able to get a Hirst or Koons on the cheap in six months !! Maybe it'll ruin the art market or careers of certain artists !!

Someone who is on the flip side of all the Lehman Brothers, AIG and Merrill Lynch drama is Mr. Hirst who is reportedly just brought in sales of around $127.2 million with his Sotheby's sale.



Angelo said...

It's a bit of an ironic cycle, is'nt it?

Either way corporate greed in America is finally paying for years of sensless gouging.

A country full of honest working folks have been loosing their homes to forclosures, mostly caused by unethically structured loans.. while those execs were hanging a Hirst Butterfly on their apartment walls.

Hmm.. at least Damien is cleaning up! In other news, I'm waiting for one to pop up on eBay so I can snag it on the cheap.

Anonymous said...

It's about time the market crashed and something like this came along. I wonder how it will affect the art market. Koons on ebay, that would be fun!

Fredgmnews said...

Sorry but nothing to do with it ! just to say a special happy birthday to Mr Kenny and many thanks for beeing so kind and patient with George's fans .. have a great day !

Anonymous said...

The presence of a Hirst in a collection is a sure sign of dullness of taste. What serious person could want those collages of dead butterflies, which are nothing more than replays of Victorian decor.
What is there to those empty spin paintings, enlarged versions of the pseudo-art made in funfairs. Who can look for long at his silly sub-Bridget Riley spot paintings, or at the pointless imitations of drug bottles on pharmacy shelves. No wonder so many business big-shots go for Hirst: his work is both simple-minded and sensationalist, just the ticket for newbie collectors who are, to put it mildly, connoisseurship-challenged and resonance-free.

Yogchick said...

@ Anonymous: Thank you! You have articulated so well what I have been feeling for some time now but didn't know how to put in words without coming across as some kind of philistine. I've tried to be open-minded to Hirst's work but always came away feeling as if I were looking at the emporer's new clothes. I'm glad to see I'm not the only one who feels this guy is way overrated and overpriced by clueless businessmen.

Anonymous said...

Hirst is not an artist, he's a taxidermist!! I've heard the man who actually caught the shark was only paid the equivalent of $200 & it sold for 9.5 million. Ridiculous.