We continue to hear horror stories about the art world being affected by the major collapse of our nation's economy. In my opinion, it's not such a bad thing that over-inflated pieces of art by gimmick masters like Koons and Hirst are getting a well needed sock in the gut and I am happy to champion the reconsideration of investment in the cutting edge contemporary artists that offer a much lower price point in these days of slower, more thought out investments. It's a great time to garner a cache of lesser known, emerging art from younger talents that are poised to evolve and raise in value over the next ten years and, at least for now, deals are the name of the game in galleries as percentages become slimmer and padding less abundant. A recent New York Times article stated that maybe this set back climate will allow the cream to rise to the top in the national art game.
Los Angeles' Chinatown is one of California's better places at the moment to find new works in price points that please any collecting palate. Many gallerists there are turning to creative ways to collaborate and extend exposure while respecting the need to cut expenses. Cottage Home is one such space in a shared space that used to be a Kung Fu theater. Renowned Chinatown galleries Sister, China Art Objects and Thomas Solomon Gallery all take turns showing art while still operating their own galleries. This kind of collaboration is exactly what the art market needs right now.