Damien Hirst and the contemporary art market Harvard Case Solution & Analysis

On the September 15 and 16, 2008, British artist Damien Hirst ruined all policies of the art market. He avoided traditional distribution channels - dealers and gallery owners - by partnering with Sotheby's auction house - and with their help.

Sotheby's sold art works which were less than two years old, which was another break from tradition. Hirst got more than £110 million from the auction - in the midst of a worldwide economic crisis and on exactly the same day the Lehman Brothers Investment house fell.

PUBLICATION DATE: July 28, 2010 PRODUCT #: ES1051-PDF-ENG

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Damien Hirst and the contemporary art market

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