PRESS ROOM///HAS MONEY RUNIED ART???…

October 15, 2007  |  Uncategorized

It's no secret that today's art world is reaching new heights of decadence with millionaire art stars being made literally overnight in an art climate fueled largely by hype and a seemingly endless flow of monied collectors desperate to bring home a piece of the "next big thing." NEW YORK MAGAZINE's astute commentator JERRY SALTZ takes note of the phenomenon and offers an insightful analysis in the piece below:

HAS MONEY RUNIED ART?
Or is the hype about the hype keeping us from seeing the real picture? The collateral benefits of this loopy, vulgar, and altogether overheated New York art moment.
By Jerry Saltz, New York Magazine

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At the staging of Aaron Young's "Greeting Card" on September 17. (Photo: Kai Regan)

I love art and the art world, but lately, I can see why the Gavin Brown gallery has a new Website called NewYorkIsDead.biz. The site’s creators say that “nothing’s moribund; energy still abounds. But its timbre is strange.” Just how strange can be seen, as never before, when the bullshit machine runs at full steam; students charge $25,000 for paintings; the M.F.A. (as Daniel Pink notes) is the new M.B.A.; and “the system,” as David Hammons observed, “is making people offers they can’t refuse when it should be making them offers they can’t understand.”

A large chunk of the art world seems to have drunk the Kool-Aid, too. Megacollectors suppose they can enter art history by spending astronomical amounts. They’re P.T. Barnums, showmen and -women who have become part of the show. Art magazines, once left on coffee tables, are fat enough to be coffee tables. Ten years ago this month, Artforum had 124 pages. This month, it has more than that many pages of ads, and 412 pages overall. Damien Hirst, who once brazenly declared that collectors would “buy what you fucking give them,” recently, and wearily, told The Guardian, CLICK HERE TO KEEP READING...

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