Article: The Murky World Of The Art Industry

From my lifelong involvement in the fine art world, I would have to say that the observations and generalizations in the article are rather spot-on accurate.

No surprises here. Not for me anyway.

This excerpt puts a whole new spin on the huge art show in Dubai. And how about the one in Miami? Is it a stretch?

"… in 2011 we submitted a detailed report to RCMP, CIA and Interpol, explaining how art can be used to fund terrorism while completely bypassing all existing security measures."

The FED keeps printing money. The money is slushing around, but I am excluded from almost all of it.

Prices rise.

Why is art or western art failing? Abstract art has been the major US art export for over half a century.

It gets old.

Abstract art is now only decor.

Fine Art that develops western culture is not made by many.

Dave

Frank, do you have any personal experiences you can share? I heard some grumbling about how NY worked, such as a few families were running everything. Is it the same for you? And Dave, you too?

David, I think they were talking more in terms of artificial inflation/art market manipulation, money laundering, etc. They didn't really mention underpaying artists but judging some of the remarks made in my small pond, it's probably part of the hunt frame of mind as well. It resembles the antiques business in a lot of ways.

It does seem to be about creating artist superstars who can command the highest prices. Maybe it would be OK if they picked me. :)
Although I don't know if it is any different from the music industry...

Well, at least in the music industry, there aren't patrons who have money than is good for them (or for art) buying up junk and legitimizing it. When musicians put out an album, it's the common folk - the great unwashed - who decide if the art is good or not.