Art sales soar despite credit crunch

by Thomas

I am not sure what this is supposed to mean, however, it may be the case that people are investing in art because its value is less likely to tank than stocks like GE (12% drop over a week ago) and Yahoo! (with a looming buyout). Is it really the case that spending £580,000 on Hirst's A Beautiful Thing is a good investment? With the art market expanding as it is, it most necessarily is. That's what art's all about.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/22/nart122.xml