Art: A Great Place To Park Your Money (Conspicuously)

Everyone is talking about the hot art market that has seen record prices for contemporary art. “So what gives? The declining dollar and inflation fears certainly make art a decent, demand-driven place for the rich to park their money. In these faux gilded times, the wealthy use art as a Veblenite way to advertise their fortunes — witness gaudy spreads on the Dallas scene in the current Art + Auction and on Los Angeles collectors in the new Art Review and the New York Times. There’s nothing like showing off that boob job or eye tuck in front of a Frank Stella or Cindy Sherman.”