GOOD QUESTION

Murakami, age 49, does not shy away from the commercial aspect of art and seems to be an artist in the mould of Warhol, who said “Good business is the best art.” He has collaborated with Louis Vuitton and runs KaiKai Kiki Co., a veritable business employing two hundred people. Bloomberg reports that the artist discussed the prices of his work with Larry Gagosian for his exhibition at the gallery and found them “a little bit expensive”. The artist is concerned about the art market and the incessantly rising prices. This seemingly endless price increase scares Murakami, who is of the opinion that his artworks have become too expensive.The artist has pinpointed an important problem preoccupying art market economists: how high can prices go?

AMA
July 14 2011