The past two days Hirst has been selling his collection at Sotheby's.  The collection was 223 works that ranged from small drawings to animals preserved in tanks of formaldehyde.  The auction ended yesterday with a total of $200.7 million in sales greatly exceeding the auction house estimate of $177.6 million.  This is also historic as this is the largest sale for a single-artist auction which was made in 1993 by a collection of 88 pieces by Picasso which sold for $20 million.

It goes to show how strong the art market is and the value of art as an investment in these economically hard times (for the US at any rate) where large US financial institutions are being bailed out, sold off, or liquidated.  It seems that the art market once again triumphs and exceeds expectations.

I'd suggest that the most secure long term investment is Art.  Not only financially but, emotionally as well.  Nothing enriches your life like the ownership of fine works of art.  

For more information on the art market I suggest this interactive report from last year by MSN Money called "Art Goes Boom!".

Cheers,

Shadna