Recent Blog Posts
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The $4.5 Billion Dollar Bank Run
Nov 07 201111:20 am EDT -
The Times' Rorshach Geithner Story
Apr 27 20099:26 am EDT -
Sinking Animal Spirits
Apr 27 20098:45 am EDT -
Counter-cyclical Urban Policy
Apr 26 200910:00 am EDT -
Be Your Own Counterfeiter
Apr 26 20099:36 am EDT -
Being Tim Geithner
Apr 25 200912:37 pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:41 am EDT -
What Good is the News?
Apr 25 20098:32 am EDT -
Stressful Enough
Apr 24 20092:29 pm EDT -
Not Regretting the Pound
Apr 24 20091:09 pm EDT
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Damien Hirst Datapoint of the Day
At the (RED) auction last night, eight works by Damien Hirst were sold - if you include the one he gave to Banksy to deface. Between them, they sold for $20,955,000 - call it half of the $42,584,300 that the auction's 72 lots raised in total. It's also an average of $2,619,375 per Hirst. And remember, these aren't classic Hirst pieces: they were all made, brand new, specifically for this auction.
It almost goes without saying that these works were all made not by Hirst himself but rather by his army of low-paid assistants. Hirst is a business, and qua business he must have pretty much the highest profit margins in the world.
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