The New Criterion is probably more consistently worth reading than any other magazine in English.
Notes & Comments
The art market bubble
On the folly of speculating on contemporary art.
was right!Support The
What’s the silliest thing you have heard in the past year or two? Take your time. Our candidate comes from Tobias Meyer, Sotheby’s head of contemporary art, who declared in 2007 that “the best art is the most expensive because the market is so smart.”
Now, we are great admirers of the wisdom of the market. But would even the most doctrinaire free-marketeer—one, anyway, not dazzled by the glitter of the contemporary art world—argue that market price determined aesthetic value? The philosopher David Hume famously argued that “durable appreciation,” not any intrinsic quality, ultimately provided the measure of artistic value. Whether Hume was correct is a matter of dispute. But at least he placed the locus of value in long-term public judgment and delectation, not sticker price.
We came across that quotation from Mr. Meyer in “A Second Tulip Mania,” an artic ...
This article is available to subscribers and for individual purchase
This article originally appeared in The New Criterion, Volume 27 January 2009, on page 2
Copyright © 2013 The New Criterion | www.newcriterion.comhttp://www.newcriterion.com/articles.cfm/The-art-market-bubble-3978
E-mail to friend
Based on a scathing report about Bowdoin, Williams College deserves closer scrutiny.
Celebrating the end of another publishing season.
A new report paints a devastating portrait of the current state of college education.
Andrew C. McCarthy talks Islam
Poet George Green reads from his award-winning Lord Byron's Foot
Celebration of the Life of Robert H. Bork, 1927–2012
by Eric Simpson
Jun 11, 2013 05:23 PM