The three major auction houses were upbeat at the Frieze Art Fair and seem to think an art market recovery is in the works. ArtInfo reports that Sotheby's, Christie's and Phillips de Pury came out of the event feeling positive about the market's direction – even if it is tempered with a dose of reality. The number of pieces sold and the prices at which they moved were still pretty far from what they were in the pre-Lehman days. For now, though, collectors need to think about the early stages of recovery, not hope for a return to the glory days of 2007.

The auction houses did fairly well, though estimates tend to be far lower than a year ago. Damien Hirst's Wallace Collection moved well, with "Two Skulls" selling for $705,244, far more than its presale estimate. Emerging artists had moments in the sun, as well, particularly Hurvin Anderson's "Untitled (Beach Scene)," which sold for $158,304 – more than three times its presale estimate. Farhad Moshiri's "Cowboy and Indian" more than doubled its presale estimate, with a price of $548,976. In general, the auctions posted sufficient results, the first step in a market turn. Sotheby's and Christie's pierced the $20 million mark in recent contemporary auctions, and Phillips de Pury moved 31 of 43 lots to reach $6.7 million in a recent contemporary auction.

Now that the art market is moving from Frieze to FIAC and into the busy fall auction season, we'll get a sense of what 2010 will look like ... and if the market is finally picking up the momentum we all want it to show. The last art market slump, from 1990 to 1992, didn't bring an immediate resolution, with prices not returning to normal until 1995. So, brace yourselves for a slow recovery (or treat it as bargain season!).

A college project by artist Damien Hirst sold at auction last week for roughly $50,000. The collage, "Red Rubber Ball," sold at the low end of the estimate, which ranged up to $80,000. The piece includes a variety of found objects, such as a toy rabbit, a severed head from a doll and a dried out rose. Originally, Damien Hirst gave the piece to Julie Balmforth, who studied with him at Goldsmiths College.

The collage measures 39.5 inches by 31.5 inches and sold at Duke's of Dorchester, in Dorset. While the buyer's identity was not revealed, auctioneer Guy Schwinge would say that it went to an Irish collector "who is very excited at his purchase."

Whoever picked up the piece did buy something rare: a piece actually created with Hirst's own hands.

On November 17, 2009, several celebrity-designed luggage will go up for auction at Sotheby's. The purpose is to celebrate the 150th anniversary of the Red Cross, which is about as worthy an organization as one can imagine. In all seriousness – most people have no idea the true range of services and support that the Red Cross offers. If a soldier overseas needs to be reached because of an emergency back home, the family can call the Red Cross, which will do all the legwork. So, it's exciting to see some big names getting behind this cause.

Among the designers, however, are some artists who have been in the news lately. Annie Leibovitz, fresh from her negotiations with Art Capital Group over her $24 million loan, is finding some time for goodwill despite her financial situation. Her contribution is a red-lined backpack designed specifically for camera equipment.

Damien Hirst has also gotten in on the charitable action. The taxidermist artist who developed a name dumping maritime life in formaldehyde and affixing as many diamonds as possible to skulls has put together a tall black trunk with little drawers to hold surgical devices – which is what Hirst uses to build his ... ummmm ... stuff. This piece, in particular, should be in high demand, now that a Damien Hirst piece may actually have been touched by Damien Hirst. Last November, he laid off 17 of the 22 people involved in his pill cabinet creation.

Let's hope that these pieces – and the others brought to Sotheby's in two months – sell for fantastic prices. Art market be damned! This event is for a great organization, and every extra dollar of success will help someone out who needs it.

At today's Phillips de Pury & Co. auction, Now: Art of the 21st century, handbag designer (and possibly former artist) Damien Hirst is back on the scene with a major auction house. A year ago, he divested his collection of his own work, ostensibly sensing that the market for him was about to crash (which, in fact, it did). Phillips de Pury isn't making any big bets today with Hirst, though. For now, it has two lithographs of Hirst's famous(ly expensive) skull up for sale. For the Love of God, Laugh; The Diamond Skull is listed at £10,000 - £15,000.

Peter Fuss, on the other hand, seems to have nailed it. His piece, For the Laugh of God,, shown above, is also up for grabs. It's a knockoff skull, listed for a little more than half the price of the lithos (£6,000 - £8,000), but the title conveys the spirit. Created when Hirst was peddling the original skull for the princely sum of £50 million ($100 million at the time), For the Laugh of God was originally offered for £100, as a way to help Britain reclaim this "treasure."

The blog "Modelator," which covers Polish art, observed in June 2007, "Our British friends, we are coming to rescue you! Like the cheap Polish labour well known to you, Polish artist Peter Fuss wishes to relieve the British nation from such a great expense." This was in response to Guardian journalist Jonathan Jones, who declared, "We must buy the diamond skull for Britain."

While Hirst's skull cost a fortune even in materials, For the Laugh of God consists of close to 9,900 pieces of glass made to look like diamonds and entailed an investment of £250 and 18 hours. Now, it's up for more than 40 times that amount, while Hirst is reduced to selling posters.

It's no surprise that last year's art market looked nothing like that of 2007. Last year, the top 10 artists by sales racked up $1.7 billion and accounted for 20 percent of the global art market on 1.5 percent of transactions. This slip in the big revenue number is a lot different from 2007, in which the top 10 brought in $1.8 billion, a year-over-year gain of 50 percent, according to ArtPrice.

Andy Warhol was the problem last year.

The top artist of 2007 fell substantially last year. In 2008, only $236.7 million in Warhol sales occurred – compared to $420 million the year before. As a result, Warhol slid from the #1 spot to #3, and Picasso regained the apex. Francis Bacon moved from #3 to #2 on sales of $256 million. Unbelievable growth of 514 percent in his work from January 2005 to January 2008 turned abruptly, and the artist finished last year down 48 percent ... not that he'd give a tinker's damn about it.

Despite the economic challenges, the price of admission grew. Last year, sales in a particular artist at auction had to reach $91.8 million to hit the big time, up from $87 million in 2007, $59.6 million in 2006 and a comparatively paltry $33.7 million in 2005.

Take a look at the scorecard after the jump.

Last year, artist Damien Hirst exhibited his diamond skull piece "For the Love of God" while he was shopping for a buyer. Hirst eventually bought the piece along with a group of investors for its $100 million asking price. Now the piece is on the road again. The Netherlands' national museum will exhibit the diamond and platinum skull for six weeks starting November 1. The piece is decorated with 8,601 diamonds and allegedly takes its name from Hirst's mother's exclamation when she heard what her son was up to.

On Valentine's Day last week the much anticipated (RED) Auction, benefiting The Global Fund in the fight against AIDS, took place at Sotheby's in New York. With U2 lead singer Bono and artist Damien Hirst bringing together one hundred contributing artists to create inspirational works of art for the auction, the feeling of love (for our fellow brothers and sisters fighting HIV/AIDS in Africa) was in the air. The auction raised an incredible $42.5 million and also set record sales for seventeen of the artists who contributed. It was an amazing evening that brought a star-studded crowd together for a noble cause -- now that's doing something beautiful with your money.

Even if you're not able to afford an actual Damien Hirst on your wall, you can have a decorating scheme that includes an entire wall inspired by his art for a much more reasonable investment. Polka dots make for a whimsical and upbeat wall treatment in the form of dot decals. Each Sweet 16 package from blik includes 16 Damien Hirst inspired dots of all different colors (with fun names like lemon, cotton candy pink and kiwi) for putting up in a grid pattern or any other way you like (confetti explosion perhaps?). The Sweet 16 cannot be custom ordered, but if you're inspired to make your own masterpiece you can create a personalized mix of colors with blik's Classic Dots instead.



Via Daily Dose

Damien Hirst, the world's most expensive living artist, is going green in a major way: he recently placed an order for Britain's second largest solar panel system. The system will be used to switch his Gloucestershire country home and studios over to total solar power. I can imagine he's got a lot of electricity needs for his entire estate, but I'm wondering if a 310 watt system (enough power to supply electricity to the equivalent of over 150 homes and will account for 2% of the entire country's solar power) isn't a bit overkill?

I guess it should be no surprise that the most expensive living artist has very valuable doodles. This was proven recently when Damien Hirst did a little ink sketch on a linen napkin from The Ivy restaurant. It's a depiction of his diamond-encrusted skull, plus a couple of steaming coffee cups in the eye sockets and, of course, the all-important Hirst signature. He donated the sketch to MacMillan Cancer Relief's "coffee art" auction, where it sold to a private collector for £18,000.

So do you think it was really just a doodle? Or a creative way to come up with something for the auction?

Via Lussorian

70 year old Joan Hardee got quite the birthday greeting in the mail when she received a painting from artist Damien Hirst. Joan had been Hirst's college secretary, so when her son was planning a surprise birthday party he asked Hirst if he wouldn't make a special card for her. Hirst, though, took it a step farther and sent her an entire painting instead with the words "Happy Birthday Joan" written on it. At the time the painting had an estimated value of £30,000.

Joan Hardee had attempted to sell the painting back in 2001 (rumors are she couldn't afford to insure it) but was unsuccessful, so assuming she still has it how much to do suppose it's worth now?

Damien Hirst is now the world's most expensive living artist, which is quite a title considering the price many pieces are going for at auction these days. America's Jasper Johns held the honor previously, on and off since the 1980s, along with Willem de Kooning from 1989-1997. Damien Hirst officially took the title when his Lullaby Spring pill cabinet sold for $19.1 million at Sotheby's, but he didn't take it directly from Jasper Johns. Just 24 hours earlier artist Lucian Frued had the title (yep, for just one day) after his "Bruce Bernard" portrait sold for $16.5 million in London.

British artist Damien Hirst recently revealed his newest project, the most expensive work of art ever created, to the Observer. It is a life-size human skull, cast in platinum and covered in about 8,500 diamonds. The largest diamond on the piece will be a 50-karat diamond in the center of the skull. The total value of the materials involved in making the skull, entitled "For the Love of God," will be £8-10 million, but the retail value of the finished piece could be up to £50 million. His motivation for undertaking such an extravagant project? Hirst said "I just want to celebrate life by saying to hell with death."

The piece will not be unveiled until 2007.