Tuesday, December 18, 2007

Art Market Frenzy




Picture of a berry eating lemming courtesy of http://www.squidoo.com/lemmimgs

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Should the value of art be determined in accordance to its value in the art market? In other words, is an artwork that sells for one million dollars intrinsically better than a work that has no market? Why should we allow currency to determine the value of an art work? That seems like a rather shallow standard to hold an artwork to.
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Most recently in Taiwan, collectors are frantically buying art. Why such sudden interest? The local market was extremely inert for the longest time. But it is with the gamut of media pushing the TV viewer to believe that art collecting is much more lucrative than playing the stock market. So now all the lemming-like investors are collecting art, but not for the purpose to enjoy it and better their lives; instead these nouveau collectors have as much desire to hold on to newly purchased art as to holding onto their shit.

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