Rob Cox from the Dow Market Watch presents a new way to look at the skull
The skull cost $24m to create (in raw materials) – that was probably split with his dealer and assembled with the help of Bond Street jewellers Bentley & Skinner. Thus, the price paid represents just four times the cost of production.
Assume that Hirst split the $100 million with the White Cube Gallery or his dealer, Jay Jopling (who financed 1/2 the cost of the materials)
That leaves Hirst with $13 million after deducting his original investment.
“But if the art market is really turning, perhaps Hirst should go back to the sharks. The up-front investment is a lot lower” (Rob Cox).
Tags: “Damien Hirst For the Love of God”, contemporary art, diamond skull Hirst, Hedge funders fine art, Hedge funds and art market, hedge funds art, investing in art, investing in fine art, Specullector, White Cube
