Ben Moore, Art Dealer, Responds to Luke Johnson’s Screed
Those now holding poor quality, derivative art are facing the same issue as those caught holding poor quality, derivative mortgage assets 12 months ago. They weren’t very good in the first place and prices deserve to fall. [ . . . ]
Sensation exhibitions established the market for the Young British Artists. Many of the works which were auctioned are now considered priceless masterpieces. The investors were also pretty pleased with their return.