“Larry said, ‘It sounds like bad business to me. "
September 11, 2010 1:09 PM Subscribe
How the Bad Boy of Brit-Art Grew Rich at the Expense of His Investors
From the Economist:
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 average auction price for a Hirst work in 2008 was $831,000. So far in 2010 it is down to $136,000, a sum that does not even take into account the many lots that failed to find buyers.)
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