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Kimberly Ann Phoenix  

Damien Hirst's I am Becoming Death, Shatterer of Worlds, sold at the Christies Post-War & Contemporary Art evening auction, in London during the October 2010 sale for 2,169,250 pounds, just under the estimated value of 2.5 million pounds. This value is back close to the value his works were around 2006.   As noted in the Art Market Monitor Christies testing the market to see if things were better, it looks like while some people are willing to spend money it is no where near the record setting levels it one was at.  Many of the buyers where those who have many of the artists work, suggesting the collectors are trying to protect the value of the works they already hold.  According to Thornton in The Economist, "At the Hong Kong art fair in May a special Hirst stand by his British dealer, White Cube Gallery, was swarming with young people having their photo taken in front of the works. Daniela Gareh, White Cube's sales director, confirms that it sold to first-time Hirst buyers from Korea, Taiwan and mainland China. "The Chinese respond to branding and Damien is a master brander," she says. Other Criteria, Mr Hirst's print business, also did a solid trade at the fair. Photos of Mr Hirst's most expensive unsold work went like hot cakes. The most popular item was a foot-high image of the artist's diamond skull, an edition of 1,000, priced at £950."  Hirst is also cataloging his work to help with the speculation there are many more "dot" and "spin" painting then are in the market.  By doing this collectors will know how many more of a style there are, giving them confidence to invest in his art when it is at auction. (Thornton)

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Sarah Thornton, http://www.economist.com/node/16990811