The Los Angeles Times details the city’s art acquisitions over the last year. Surprisingly, they’re up.

“This is the time when you hope institutions will really invest in their future by acquiring things that become available,” Schimmel says. “It isn’t for the faint of heart, but if you look at the art market in cycles of 10 or 20 years, there are opportunities special to the climate we are in right now.”

L.A. museums’ collections grow despite poor economy (Bloomberg)