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Posted inOpinion

The Art Market Is the Market Is the Market

Yesterday’s critique of Allison Schrager’s art market takedown in Quartz was about something that is ultimately quite simple: certain fictions about the exceptional irrationality or corruption of the art market are sustained for various reasons — from marginalized artists who would sooner believe that it is the art market, rather than the market entire, which is predisposed against them to financial journalists who want to legitimize their own lack of scrutiny for “the real economy” by using the art market as a straw man for “inefficient” or “corrupt” markets.

Posted inArt

The Art Market Smells Like Money

Last week, Atlantic Media’s business publication, Quartz, ran a 2200-word takedown of the art market by Allison Schrager. The story was accompanied by a helpful flowchart illustrating how deeply corrupt the art market is, and carries all the familiar signs of the minimally self-aware bloviation characteristic of the financial press. That Schrager, “an economist with a focus on pension issues,” seems to not quite be sure of anything she’s saying — the word “probably” appears with alarming regularity — is not the most repugnant quality of the piece.

Posted inOpinion

Art Is the New Gold

Channeling the conspiratorially unhinged salesmanship of a Cash 4 Gold pitchman, the New York Times ran a hilariously bad art market trend piece today — a story titled “As Money Props Up Art World, Prospects Are Mixed,” which portends to link macroeconomic trends with demand for art market investment vehicles. In its own imbecility it reveals a different sort of trend: the perpetual shortcomings in art market coverage, an area that often sees a minimum of rigor and a maximum of price-tag sensationalism at major newspapers.