LINK
Art market readies for Damien Hirst auction - MarketWatch
A prediction and a comment:
Prediction - the sale will do OK but not great - between the high and low estimates, and will be driven largely (60%+ of total buyers) by interests from Russia and the Middle East. For two reasons: 1. they have the money. 2. the younger the money, the more the focus on the social/status value of an object rather than on it’s artistic value.
Comment - this does represent a significant new channel for the market, similar to Christie’s partnership with Haunch of Venison, for example. I believe in 10-15 years the landscapes of “brokers” in the art world will look singificantly different than it does today.
