British artist Damien Hirst is known for defying expectations in his artwork—his signature pieces are animals soaked in formaldehyde and skulls coated with jewels and precious metals. This week, however, Hirst changed the face of visual arts through economics. His newest collection of preserved animals, stuffed cabinets, and butterfly paintings, titled Beautiful Inside My Head Forever, garnered £111 million at Sotheby’s ($168 million CAD) —the highest earnings for a single-artist auction. This is also the first time in Sotheby’s 250-year history that the auctioneers have sold new work. Choosing not to showcase his collection in galleries before selling it, Hirst claims this process is more ‘democratic.’ The record-breaking profit from Beautiful Inside My Head Forever seems strange as art sales continue to stagnate and global financial markets seem to implode. 20,000 art lovers attended the London auction, but only a handful of bidders were seriously contesting Hirst’s work. Not so democratic, perhaps—but do you really need that gold-plated bullock or a cupboard full of cigarette butts and diamonds?
