Established artists and classic masterworks are increasingly finding themselves in the crosshairs of eager art flippers, Bloomberg reports, pointing in particular to a Francis Picabia that saw a massive 220% gain in price in less than six months.  “Because art is seen as an asset class, the more rapid turnover is considered encouraging. There’s a whole new generation of collectors who are playing the art market,” says Frances Beatty, VP at Richard L. Feigen & Co. (more…)

An article in Bloomberg this week traces the current speculation over young artists and the art market, detailing the increasingly seen practice of flipping young artists quickly after purchasing them.  Of particular note are the works of artists Lucien Smith and Oscar Murillo, whose works have seen increase of more than 3,000% in two years. (more…)