State of the Art Market: Just my Perfunctory Opinion

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More moaning than ever about the difficulties of evaluating contemporary art. Back that with lots more talk about “speculators” and you have the equivalent of stock brokers hating on day traders.

Lots of breathless pronunciations that the art market is back in boom times.

Perpetual claims of “record” sales prices for every tiny art genre, artist, and period make every evening sale an historic event.

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With our new 3-second news cycles, and all the sweaty drama poured into the auction summaries,  it is hard to imagine that that the art market really does map onto the broad stock market:  Sotheby’s stock fell with the Japanese stock bubble at the tail end of the 80’s, dropped in front of the Nasdaq in the 90s, and  then lead the fall in 2007, dropping swiftly in November, well ahead of the broad stock market which fell in December of that year and sloped downward at a more graceful pace.

Judging from recent reports one could definitely get the impression that the next boom is on, as we may have in May of 2010, only to waken to hand-wringing despair as we did in June and July. Now as we are watching a rocky climb back up again, it is wise to take each $17 Million dollar unregistered Warhol portrait with a grain of salt

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For Your Consideration

BanksyLA
Mean Authority Figure, Tots, and lame crayon flowers

Banksy is in LA marking up surfaces with his signature lil’ rascals, menacing authorities, misplaced mutts, and drunk and disorderly mice. Many have speculated on Banksy’s mousetrap motives for visiting Hollywood — that he may be creating a Banksy egg-hunt in order to draw academy attention to his film, Exit Through the Gift Shop, which has been nominated for Best Documentary Feature.

Brash publicity tricks can only remind the academy, the press, and the chattersphere that the entire premise of the movie is mysterious and suspect, that the artist is a prankster who may will have created Exit Through the Gift Shop in order to establish an alter ego, Mr. Brainwash, for his blatant commercial endeavors.

The very first docuhoax ever to be nominated for an Oscar may well win just because the entire world is suspending disbelief.

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