Shitty Damien Hirst Painting Doesn't Sell



(image via Phillips de Pury & Co. via Bloomberg News)

Now that the overheated thumos of Empire has cooled and the our economists become introspective, the irrational exuberance for Contemporary Art can be examined. Damien Hirst, at his best, managed to make witty statements into tangible visual representations. This blog, by contrast, manages to make witty statements that are not meant to be festoon the walls of louche Russian oligarchs (The Corsair pours himself a glass of Chateauu D'Y'Quem).

Damien Hirst is, arguably, a brilliant "art businessman" -- or at least he was -- but the game may be up as liquididty slows. From Bloomberg:

"A Damien Hirst painting of four skulls that was tipped to fetch at least $3 million at Phillips de Pury & Co.'s New York auction didn't sell, the biggest upset of last night's auction that missed presale low estimates by more than half. It was the third sale this week to disappoint art dealers and may herald a decline that tracks the drop in stock markets."

More here.