Big-name artists do well in recession

The top end of the art market has done well in the economic downturn, but that’s not the case elsewhere, writes Emma Kennedy.

20th September, 2008

The top end of the art market has done well in the economic downturn, but that’s not the case elsewhere, writes Emma Kennedy.

‘Companies go bust, artists don’t,” said David Douglas, the owner of Dublin art gallery Gallery Number One.

In a week when stock markets tumbled, banks crashed and pessimism became even more entrenched, British artist Damien Hirst smashed all estimates and brought in almost stg£112 million (€141...

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