Behind the Scenes at Damien Hirst's Effects on the Art Market

Staying in the UK a bit longer and specifically with one of the artists mentioned in that last post, The Economist has published this fascinating read: “The Art Market: Hands Up for Hirst.” It covers the quick rise and sudden fall of the prices surrounding Damien Hirst‘s famously expensive pieces, including the legendary “Beautiful” which sold at a price near $200 million at an auction held around this time two years ago (it went along with the bulk of 223 other pieces that also fetched hundreds of thousands, if not multiple millions).