Comments on: How Damien Hirst recaptured his market http://blogs.reuters.com/felix-salmon/2012/03/27/how-damien-hirst-recaptured-his-market/ A slice of lime in the soda Sat, 18 May 2013 19:38:33 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: jmb85 http://blogs.reuters.com/felix-salmon/2012/03/27/how-damien-hirst-recaptured-his-market/comment-page-1/#comment-37463 jmb85 Fri, 30 Mar 2012 03:33:59 +0000 http://blogs.reuters.com/felix-salmon/?p=12752#comment-37463 two things. first, hirst's total auction volume for 2011 appears to be at or slightly north of $25 million. i'd love to see you produce this chart for other artists, let alone living artists, to see who else sold $25 million in art in '11. (i understand that these artnet charts are pricey, but it would give better context to your claim.) second, this chart is only about *auctions*. the whole reason '08 shoots through the roof is because hirst sold the entire 'beautiful inside my head forever' exhibition through auction! but for this stunt, it would have been exhibited and sold through gagosian and the volume sold at auction would be materially smaller, much more in line with the other years on the chart. throwing in the downturn in the world economy and the art market during '08-'11 you are really making a stretch here. feeding in to the easy obvious anti-hirst narrative rather than doing any sort of meaning research on the market. two things. first, hirst’s total auction volume for 2011 appears to be at or slightly north of $25 million. i’d love to see you produce this chart for other artists, let alone living artists, to see who else sold $25 million in art in ’11. (i understand that these artnet charts are pricey, but it would give better context to your claim.) second, this chart is only about *auctions*. the whole reason ’08 shoots through the roof is because hirst sold the entire ‘beautiful inside my head forever’ exhibition through auction! but for this stunt, it would have been exhibited and sold through gagosian and the volume sold at auction would be materially smaller, much more in line with the other years on the chart. throwing in the downturn in the world economy and the art market during ’08-’11 you are really making a stretch here. feeding in to the easy obvious anti-hirst narrative rather than doing any sort of meaning research on the market.

]]> By: Strych09 http://blogs.reuters.com/felix-salmon/2012/03/27/how-damien-hirst-recaptured-his-market/comment-page-1/#comment-37399 Strych09 Wed, 28 Mar 2012 16:51:36 +0000 http://blogs.reuters.com/felix-salmon/?p=12752#comment-37399 LOL. touché, Moopheus. But I think the point that Felix was making is that the price of Prada on any secondary market, such as eBay, reflect a discount because of the fact that the items are used or being sold second-hand and thus reflect a discount because of that fact. So they are still consumption goods. I'm totally guessing here. I wouldn't know what a price increase or decrease over retail looks like for a Prada bag because I've never, ever been into a Prada retail store and don't know what they go for new. LOL. touché, Moopheus. But I think the point that Felix was making is that the price of Prada on any secondary market, such as eBay, reflect a discount because of the fact that the items are used or being sold second-hand and thus reflect a discount because of that fact. So they are still consumption goods.

I’m totally guessing here. I wouldn’t know what a price increase or decrease over retail looks like for a Prada bag because I’ve never, ever been into a Prada retail store and don’t know what they go for new.

]]> By: Moopheus http://blogs.reuters.com/felix-salmon/2012/03/27/how-damien-hirst-recaptured-his-market/comment-page-1/#comment-37387 Moopheus Wed, 28 Mar 2012 02:21:30 +0000 http://blogs.reuters.com/felix-salmon/?p=12752#comment-37387 There is absolutely such a thing as the art market: a place where artworks are bought and sold, and where dealers and auction houses make money as the intermediaries finding the prices at which buyers and sellers can agree to transact. There isn’t, by contrast, such a thing as the Prada market: http://www.ebay.com/sch/i.html?_from=R40&_trksid=p5197.m570.l1313&_nkw=prada&_sacat=See-All-Categories There is absolutely such a thing as the art market: a place where artworks are bought and sold, and where dealers and auction houses make money as the intermediaries finding the prices at which buyers and sellers can agree to transact. There isn’t, by contrast, such a thing as the Prada market:

http://www.ebay.com/sch/i.html?_from=R40 &_trksid=p5197.m570.l1313&_nkw=prada&_sa cat=See-All-Categories

]]> By: absinthe http://blogs.reuters.com/felix-salmon/2012/03/27/how-damien-hirst-recaptured-his-market/comment-page-1/#comment-37376 absinthe Tue, 27 Mar 2012 17:05:50 +0000 http://blogs.reuters.com/felix-salmon/?p=12752#comment-37376 Prada's in the Veblen goods market - conspicuous consumption is different than what you see (or do you?) with Giffen goods. Prada’s in the Veblen goods market – conspicuous consumption is different than what you see (or do you?) with Giffen goods.

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