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The feeding frenzy is over

The financial crisis has caught up with the white hot art market. Doomy echoes from the Frieze Art Fair, disappointing auction results everywhere. Sotheby’s stock is off 72.6 percent this year. I declare this day, October 19, 2008 the end of the artworld as we knew (and loathed) it. The real question is: how did Hirst know?

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