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Damien Hirst’s Market Has Been Drying Up, Can His Undersea Fantasy Bring Liquidity Back?

April 12, 2017 by Marion Maneker

A post shared by Ha, Volevi! (@bennythedoggo) on Apr 11, 2017 at 7:14am PDT

This analysis of Damien Hirst's market since the global financial crisis—using data gathered with the help of Athena Art Finance—is available to AMMpro subscribers. Subscribers get the first month free on monthly subscriptions. Feel free to cancel at any time before the month is up. Sign up for AMMpro here.

It seemed like everyone involved in the art market was posting from Venice this past weekend. The flood of images from Damien Hirst's dual venue show, The Wreck of the Unbelievable, piqued our interest in the dynamics of the Hirst market.

The Venice shows are a risky (some reports estimate the cost of fabrication and presentation at £50m) business venture and an even more perilous critical exposure for Hirst. His last attempt to debut new work—his show Francis Bacon-inspired paintings made with his own hand—was a critical rout and a cul-de-sac for new ideas and further cultural relevance.

The show is also a return, after four years of Hirst managing his market himself, to the sales force that created his initial out-sized success. That sales force may have a greater effect on his market than even the success or failure of this new body of work. At least, that's the inference to be drawn from looking at the public sales records at Christie's, Sotheby's and Phillips over the last 10 years.


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Robert Storr Thinks Serious Art Has a Smaller Audience

April 6, 2017 by Marion Maneker

Hirst’s The Severed Head of Medusa

It’s a little hard to tell the context of this comment by one of the art world’s luminaries. One way to read it is another slam at popular artists and critics simply because they’re popular. It comes from yet another story in the big press build up to Damien Hirst’s ‘comeback’ show opening in Venie this weekend:Continue Reading

The FT Joins the Damien Hirst Hype Machine

March 24, 2017 by Marion Maneker

FT clip

The Financial Times is gleefully participating in the hype surrounding Damien Hirst’s latest comeback event opening in Venice next month. A reporter was taken on a junket to help create the backstory to Hirst’s new body of works. Continue Reading

Hirst’s Market, Down But Not Out, Waits for Potential Venice Re-Birth

February 22, 2017 by Marion Maneker

Hirst BIMHF auction shot 2

The New York Times’s Robin Pogrebin wraps the news that Damien Hirst is holding a selling exhibition during this year’s Venice Biennale in some interesting market news and commentary.

First up is the way the work is being sold. Gagosian Gallery is managing the sales by having their specialists meet with potential buyers and show them work on an iPad so the images cannot circulate in advance of the show at Francois Pinault’s two Venice spaces.

The second is the idea that this is Hirst’s “third prong” in a scheme to create a “second act.” The first and second were his private museum opening in London and return to Gagosian.

In truth, since the Beautiful Inside My Head Forever sale in 2008, Hirst has made several attempts to move on with new art work—there was the ill-fated attempt at painting like Francis Bacon sponsored by Victor Pinchuk and shown at London’s Wallace collection—and revive his market with stunts like the global Gagosian show of spot paintings.Continue Reading

‘Damien Domination,’ Hirst’s 3,000-person Real Estate Development Comes Closer to Reality

December 10, 2013 by Marion Maneker

Hirst's Ilfracombe StatueDamien Hirst, or his business advisor, has submitted plans for the 750-home, 3,000-resident real estate development in Devon, near the artist’s estate:

However, residents have said the project is the latest example of “Damien domination” of the area and that the new town will invade their privacy and swamp local services.

Last October, Verity, Hirst’s controversial 67ft bronze statue of a pregnant woman, was erected in Ilfracombe despite protests.

The artist, who is believed to be worth £215million, is believed to have won some support within North Devon council and local business leaders for the 187-acre project called the “Southern Extension”.

The site covers much of Winsham Farm, a wildlife haven which Hirst bought for £900,000 10 years ago. He is one of four landowners in the project and owns just over half the site.

However, residents said they were shocked by the town’s size and feared that the 10-year construction project would cause disruption for Ilfracombe’s 12,500 population.

Pictures show artist Damien Hirst’s first impressions of town dubbed ‘Hirst-on-Sea’  (London Evening Standard)

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