Stremmel Gallery

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We surely all recall the eminently tumescent art bubble of only several years ago, and its subsequent burst. Hard to believe it ever even happened… but it did. Fueled by an overabundance of easy credit, malignant property values, mortgage-lending chicanery, Wall Street wagering and cabalistic investment gambits, the contemporary art market was sizzling and the race to accumulate was on.Publicity around fast rising art prices both at galleries and auctions, particularly with regards to precocious young artists, triggered much of the binge buying. In response to the influx of new collectors, galleries did whatever they had to do to meet the demand, vying with one another to sign the next big art stars, to the point of plucking up promising BFA and MFA students the moment they graduated art school (and sometimes even before), drafting them like professional sports teams draft top college athletes. Never mind that in sports it’s how good you are in the sprint, whereas in art, it’s whether you’ve got the chops to go the distance. Never mind that art world darlings du jour are just that–today’s–not tomorrow’s, not next week’s, certainly not forever’s, and that one or two lame shows can effectively compromise a career. To read more.

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