The Dimming of the "Business Art" Supernova will come

Christian Viveros-Faune : art critic, curator
There's no way to put this but bluntly: During the past three decades, experimentation in downtown New York (and also in London, Paris, Tokyo, et al.) has largely been about creating exotic financial instruments. Starting with Andy Warhol's campy coinage—"the best kind of art is business art"—the top tier of the art world has effectively shape-shifted into a mini bond market. For artists like Damien Hirst (I think by now you all know where he's showing), gallerists such as Larry Gagosian (I think by now you all know what he's showing), and New York collectors like Jose Mugrabi (he's privately showing Warhol and Hirst inside his vast warehouses 24/7), there is a cold, nasty, Donald Trump–like art to the deal: Money is their medium.

But wait, how did this happen? Here's recent times in a nutshell: In the space of 30 St. Bart's winters, an influential part of the art world successfully aped the most detestable aspects of Lehman Bros.–style leveraging. The age of the SWAG bubble (Silver, Wine, Art, and Gold) is now upon us. If we believe the experts, it will soon pass (or is that pop?). Good riddance, I say. If this pack of misanthropes and robber barons is still around in 2013 (and God knows they have the wedge to outlast time itself), it might be smart to ship in that Voina crew from Moskva.

article: "Three Predictions About the Near Future of Art"