Synopsis
My companion piece to ArtReview's Power 100 issue, tracing the 10 events that most revealed the dynamics of the 2005 art market. This included the first instance of Post-war and Contemporary auction sales surpassing those for Impressionist and Modern. It seemed like a freak moment, and I noted it en passant, but actually ImpMod never recovered its lead spot. Also noteworthy: Sotheby's sold the contents of Damien Hirst's failed Pharmacy restaurant for £11.1 million (circa $20.3M), making Hirst likely the richest living artist, and Hedge-fund manager Steven Cohen purchased Hirst's famous pickled shark for a reported $12 million.
