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Sotheby's New York auctioneer Tobias Meyer takes bids on Clyfford Still's 1949-A-No. 1 (1949), which sold for a record-setting $61.7 million on Nov. 9, 2011
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Art Market Watch

SPEED! MONEY AND THE GLOBAL ART MARKET
by Piroschka Dossi

Speed is a synonym for velocity and the slang term for amphetamine, a drug creating an ecstatic illusion of rapidity and efficacy. Money, which plays an increasingly important role in the dynamics of the global art market, has a similar effect. Money dynamizes and accelerates the art market -- not just temporarily but structurally. What are the effects on competition? And how do these affect art itself?

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