saltz on the economy + *frieze*

Today's story is from Mr. Saltz. Go here for to read the full story, excepts below:

from - At London’s big art fair, signs of financial trouble abound. But maybe that’s okay.

...In fact, though, things were different. Those of us who have frequented Frieze could see that something was off. Dealers and assistants who in recent years were always busy with clients now stood or sat quietly... Although the megagalleries like Gagosian and White Cube teemed with moneyed types and very tall women in very high heels, many younger dealers looked perplexed.

...If the art economy is as bad as it looks—if worse comes to worst—40 to 50 New York galleries will close. Around the same number of European galleries will, too. An art magazine will cease publishing. A major fair will call it quits—possibly the Armory Show, because so many dealers hate the conditions on the piers, or maybe Art Basel Miami Beach, because although it’s fun, it’s also ridiculous. Museums will cancel shows because they can’t raise funds. Art advisers will be out of work. Alternative spaces will become more important for shaping the discourse, although they’ll have a hard time making ends meet.

...As for artists, too many have been getting away with murder, making questionable or derivative work and selling it for inflated prices. They will either lower their prices or stop selling. Many younger artists who made a killing will be forgotten quickly.

...The good news is that, since almost no one will be selling art, artists—especially emerging ones—won’t have to think about turning out a consistent style or creating a brand. They’ll be able to experiment as much as they want.

...With luck, New Museum curator Laura Hoptman’s wish will come true: “Art will flower and triumph not as a hobby, an investment, or a career, but as what it is and was—a life.”

jerry saltz, nymag
I gotta say that as far as art criticism goes, I always manage to fully read his reviews without skimming or falling asleep. If only more critics would get to the point without jacking-off to art-speak and description.

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