An Assessment of Damien Hirst Pricing Trends

November 23rd, 2012

Damien Hirst SharkAccording to Artnet data, Businessweek reports that Damien Hirst works that were purchased during the artist’s commercial peak, between 2005 and 2008, have seen an average negative return of 30% when resold, particularly notable in a year of record auction results.  Sergey Skaterschikov, a Russian investor and business strategist, said that Hirst “degraded his market, almost cannibalized it, by developing this mass production of well-recognized images.” James Kelly, Hirst’s business manager, asserts that auction prices are a “totally misleading” indicator and don’t reflect private primary market sales data. Read the article via Businessweek