Did Someone Say Art Market Bubble?

flavin_tatlin.jpgRichard Polsky does a round-up of the 2004 art market on Artnet and makes some predictions for 2005, and guess what? Of the dozens of artists he looks at, only four--Takashi Murakami, Yoshitomo Nara, Felix Gonzalez-Torres (??) and Ross Bleckner--are anticipated to go down next year. Most are going up, or are predicted to be "status quo," which I take to mean either "they'll go up, but I don't know why" or "they'll go down, but I don't want to piss off my dealer/artist/collector friends by saying so."

Murakami and Nara are cheap/easy shots: their auction prices have been wild for a while. Bleckner's market has been sort of sleepy for a while, so no one's shocked by that. And Felix, he's just wrong on that one: the work that came up this year was either atypical, or sold very well. Soon enough, people looking for good Felix's will find there aren't that many left. I think Polsky's just being pissy.

In any case, his analysis reminds me of the i-banks' stock recommendations during the bubble: all buys, no sells, with all arrows pointing up. And we know how that turned out.

Art Market Guide 2004

Since 2001 here at greg.org, I've been blogging about the creative process—my own and those of people who interest me. That mostly involves filmmaking, art, writing, research, and the making thereof.

Many thanks to the Creative Capital | Warhol Foundation Arts Writers Program for supporting greg.org that time.

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first published: December 28, 2004.

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