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02/21/2006: "I know I said I would stop but..."
For some reason this article titled Anatomy of an Art Market Bubble had me bummin majorly.
"The apex of the contemporary art market is superheated to the point of meltdown. Money is everywhere-- big money, all kinds, flowing freely, infused with euphoria. Prices spiral up and up, endlessly, exponentially; everybody wants in on the action and we're all getting very rich very fast."
ahem...we're all getting what???
or these little excerpts on why the current "bubble" exists:
"Not enough time has passed to know which young-art-star art is fad and which is classic, yet it's all priced as classic. (In extreme cases, prices for brand new art by relatively untested artists exceed those of modern masters.)"
"Selling prices for an alarming number of young artists are doubling, tripling, quadrupling, and more almost overnight."
So, what am I? Chopped liver!???