you have another big crash now finally regarding this art market story of the british collector frank cohen just back from new york says the contemporary art market is like the stock market it's about finance the art is there but it's a commodity these guys use it to make money you can't do that with impressionist art because no one has a monopoly right well look at damien hirst for example here's a mediocre artist who is made sleazy his stuff is kitsch it's kids you know it has about as artistic value as a burger king wrapper but saatchi and saatchi backed him and they monopolized all of his work and they forced a price higher another as interesting aspect of this is that the old masters who are dead and can't make new art their stuff is considered to be less valuable than the new artist because they're alive can create more stuff so the whole idea of authenticity is trading down in this clone based on statistics art world but also you can kind of compare it to the financial system is here you could have print unlimited numbers of dollars gold you can only increase the supply by two percen

you have another big crash now finally regarding this art market story of the british collector frank cohen just back from new york says the contemporary art market is like the stock market it's about finance the art is there but it's a commodity these guys use it to make money you can't do that with impressionist art because no one has a monopoly right well look at damien hirst for example here's a mediocre artist who is made slee his stuff is kitsch it's kids you know it has about as artistic value as a burger king wrapper but saatchi and saatchi backed them and they monopolized all of his work and they forced the price higher and other as an interesting aspect of this is that the old masters who are dead and can't make new art their stuff is considered to be less valuable than the new artist because they're alive can create more stuff so the whole idea of authenticity is trading down in this clone based on statistics art world but also you can kind of compare it to the financial system is here you could have print unlimited numbers of dollars gold you can only increase the supply by two