Modern Art Market Continues To Be Crazy

A private bidder just paid around three times the estimated value for a Damien Hirst “medicine cabinets”, made out of stainless steel and glass, with painted pills glued onto the shelves. The price paid was £9.65 million ($19M). This is the most ever paid in Europe for a work by a living artist. The piece, made in 2002, is called “Lullaby Spring”.

Just a month ago, a similar piece – Lullaby Winter – was sold in New York for “just” $7.4M. Like I say – prices seem to be going crazy at the moment; and markets don’t keep going up for ever. Buyers beware…

Of course, the great thing about some modern art – these medicine cabinets included – is that if you really love the pieces, but can’t afford the ten or twenty million dollar pricetag, you can always have a similar piece custom made for very little money (or even make one youself).

One thought on “Modern Art Market Continues To Be Crazy

  1. George and Kenny’s Damien Hirst collection will be the first exhibit at the Goss-Michael Foundation according to press releases.🙂

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