POST BY PADDY JOHNSON
Robert Crumb’s Genesis at David Zwirner
My latest piece is up at The L Magazine. This week I talk about contemporary art and the art market.
Some dealers have failed to benefit from the market transparency brought on by the Internet. In particular, gallerists in the business of buying and selling previously owned work aren’t doing so well now that even the rich have figured out how to plug search terms into Artnet‘s auction results database. Now, with the stroke of a key, anyone can find out how much all the Pablo Picassos in the world sold for last month. Prior to this, simply shopping out of town was enough to enable a smart dealer to double the resale price, as most collectors wouldn’t know the original purchase price.
But these days every art world cloud has a lining fabricated by some up-and-coming artist. “All roads lead to the contemporary art market,” a prospective emerging art dealer told me casually over dinner the other week, while explaining the rules of supply and demand. “Slimmer profit margins and fewer available art works within the secondary market increases the number of dealers, buyers, and art making within the field of contemporary art.”
To read the full piece click here.