Though they are still told this a great time to make art and that–“Artists thrive in these times”–student shows are scrambling for alternative venues in London, according to the Telegraph:

For the past 15 years, art students have never had it so good. The booming economy and flourishing art market meant that they were making sales from their degree shows, and, more importantly, they were gaining contracts with commercial galleries that could ensure their future.

But this year, things are different. The recession means that fewer collectors and gallery owners are likely to offer material support. Although fewer than a handful of galleries have closed since last October, those that deal with young emerging artists are feeling the pinch.

“The students are incredibly concerned,” says Kay Saatchi, formerly married to the collector Charles Saatchi, and now a collector and curator in her own right. There has probably never been a less conducive moment for embarking on a career.

Art Sales: Degree Shows (Telegraph)