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22

Oct

An Interesting Article on the Art Market

Takashi Murakami’s “As the Interdimensional Waves Run Through Me, I can Distinguish Between the Voices of Angels and Devil” (2011)

Despite financial volatility in the European economies, it appears that many rich art collectors are looking to luxury art as a safe haven for investments. Last week, art dealers, collectors and exhibitors from around the world gathered at one of the biggest international art fairs, the Foire Internationale d’Art Contemporain (FIAC) in France. The fair was a tremendous success, beating its English rival Art Basel, based on price points and the diverse collection of artists. According to theartnewspaper.com, this year’s FIAC “has been hailed by dealers and visitors alike as one of the best editions ever of the 38-year-old event, if not the best.” The Paris event showcases pieces by emerging artists and pieces by high profile artists. Some of the works included a 1960s Picasso “Musketeer” painting, a sculpture of 100 fish by Damien Hirst valued at $2.8 million and a 2.7 meter Manga-style Takashi Murakami painting of a dog on a pile of skulls valued at $2 million (shown above). The FIAC is held at the Grand Palais, Paris, through Oct. 23.

For more information on the FIAC, please visit fiac.com

Source: businessweek.com