AUCTION ECONOMICS
by Charlie Finch



The saddest thing about most art journalists is not that they don’t understand economics, it is that they don’t even try to understand economics. Take the hardworking Kelly Crow of the Wall Street Journal, who published a piece there called, "Art’s New Winners and Losers," which, based on nothing, claimed that Jasper Johns was "up" after last week’s auctions and that Richard Prince and Edvard Munch were "down."

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