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| Aug 28, 2008 8:03 pm |
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Damien Hirst's Gallery Sitting on Over 200 Works! |
Mehul Patel
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LONDON—Damien Hirst's London gallery, White Cube, has over 200 works by the artist in stock, the Art Newsaper reports. The unsold art — which includes paintings from his famous butterfly and spot series, medicine cabinets, "Natural History" sculptures, and more — is said to be worth over £100 million ($183.6 million). That number excludes the £50 million For the Love of God, a diamond-encrusted platinum skull owned by a group of investors including Hirst himself and White Cube owner Jay Jopling.
According to the Art Newspaper, the quantity of art available for sale from White Cube helps explain why Hirst recently decided to bring his work straight to Sotheby's: His factory-like output leads him to seek new outlets for distribution. The Sotheby's auction is intended to help the artist find new buyers.
"Sotheby's promotion is not directed at existing collectors. They are targeting new buyers, especially in parts of the world which have only recently started collecting contemporary art," a source told the Newspaper.
Only Takashi Murakami is known to have a similar volume of production, and the Japanese artist is believed to be in talks with an auction house about a direct sale.
Regards,
Mehul Patel
http://www.KIPL.Net - New Media Solutions
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