Bloomberg‘s art critic makes this passing observation, in the context of reviewing Charles Saatchi’s Unveiled show,

The new exhibition at London’s Saatchi Gallery makes one thing clear: Contemporary art is now a truly global phenomenon. Once, Charles Saatchi used to go truffle hunting in the artist studios of London; now, he can find what he likes just about anywhere in the world. [ . . . ] Global-style contemporary art is probably here to stay. Admittedly, its triumph seems fragile at the moment. The contemporary-art market, like so many other markets, has turned sharply down. It may be that as the bubble bursts, we’ll be hearing somewhat less, for a while, about brand-new art — wherever it may come from.

Can the global art market withstand the economic collapse?

Saatchi Shows Veiled Women Made of Foil, Iran Sex-Worker Dolls (Bloomberg)