Art sale defies Wall Street

Damien Hirst Art sale defies Wall Street.
In a gamble that could have ramifications for other artists, Hirst was bypassing his dealers - the Gagosian Gallery, based in the United States, and White Cube, based in London - and taking his work straight to Sothebys auction with a sale that began here on Monday night and was to conclude on Tuesday.

The bet was paying off: The first session's total was $127.2 million, above the high estimate of $112 million.

A crowd of collectors, dealers, celebrities was waiting the doors open. All three members of the Mugrabi family was at the Sothebys sale in London.

Jose Mugrabi, a New York dealer, said: "Today people believe more in art than the stock market. At least it's something you can enjoy." (at the Hirst sale) [from Herald Tribune]

Where is the Art?

... with Regia Marinho @
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