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ARTICLE · 28 MARCH 2010

The Legal Canvas - Spring, 2010

On September 15, 2008, the same day that Lehman Brothers collapsed, Sotheby's commenced a two-day sale of new versions of classic works by Damien Hirst.

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On September 15, 2008, the same day that Lehman Brothers collapsed, Sotheby's commenced a two-day sale of new versions of classic works by Damien Hirst. The sale netted more than $200 million in proceeds.

It may be that when Hirst conceived the sale, he intended not only to sell art, but to have the sale itself act as a commentary on the seemingly insatiable appetite of the market for trophy art – the more expensive and high-profile, the better. It is unlikely that he anticipated that the sale would mark the end of an era in the way that it did.

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