PSFK have an interesting article from the New York Times written by Roberta Smith on the state of the art market more here

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He is one of the world’s richest artists, who defied the credit crunch in September by auctioning a whole collection for £111m. But even Damien Hirst may not be immune to the economic climate - many of the workers who produce his works found themselves out of a job this week.
More Here (via Guardian)

In at Number One …
Jeff Koons born 1955 in Pennsylvania, incorporates kitsch imagery. Sold £69.4m in the past year.

2 Jean-Michel Basquiat, born 1960 in Brooklyn, New York, was a graffiti artist who died in 1988. Sold £54.3m.
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Yvon Lambert has been one of France’s major dealers for the past 40 years, with galleries in Paris, New York and now London. The gallery, which is opposite White Cube, opens with a show by the Mexican artist Carlos Amorales.
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150 contemporary art galleries, 1000+ artists, 27 countries and 200,000 sq ft of space to show your tricks to an increasingly turbulent market. Whether you are looking at, selling or collecting art, or simply showing off your new dress, there is something that attracts a vastly differing crowd to frieze every year. There are those that are there to see, or those to be seen. Frieze can, and does do something for everyone as it casually borrows from each to lend {...}