The London Design Festival party last night was full of hedge-funders seeking free drinks and nibbles. The city, reeling from this week's events, seemed to turn up in force at the down-at-heel arts and design scene of Shoreditch. Of course, whether they were in the mood to buy right now is another question.
A rumor circulating amongst dealers is that it’s a good idea to retreat into the safe haven of luxury—apparently you're more likely to sell if your prices are higher. I'm sure there's a logic somewhere in that perversity.
The other worry is that Damien Hirst's mega-sale has soaked up any available culture-acquiring cash for the foreseeable future.
The question on everyone's lips is, "what's next for the post-credit crunch design scene which has flourished in the last ten bubblicious years?"
There's more on this subject from the Sunday Times architecture critic Hugh Pearman here.