According 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

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