Martin Gayford ponders the record art auction prices and museum donations last year and wonders if prices will slump in the near future.
As posted on Bloomberg.com:
Commentary by Martin Gayford Dec. 31 (Bloomberg) -- As the rest of us clear away the wrapping from our Christmas presents, the art world looks back on a bumper 12 months of goodies. Record prices have leapfrogged one other. At one point Lucian Freud was the most expensive living European artist at auction for all of 24 hours before being overtaken by Damien Hirst.