Great article about Stefan Simchowitz, the contemporary art market, flipping, art market economics, zombie formalism, the art market crash, and how volatility in the art market is a healthy thing.
Read the full article here: https://www.1843magazine.com/features/art-market-vs-predator
If Simchowitz’s nose for success is impressive, so is the hatred he inspires. He has been likened to Michael Milken, an inventor of junk bonds and convicted fraudster; he has been called a Sith Lord and Satan. The complaint is that he is a short-termist, prioritising quick profits over sustainable sales. He is accused of buying too greedily: cornering the market early by snapping up much of a young artist’s catalogue (he bought lots of work by Murillo early and cheap) before flipping the work to collectors who are themselves seeking profit rather than good art.