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.
Sam is a director of FAT architecture firm in London. He is professor of architecture at Yale, runs StrangeHarvest.com, writes for various architecture magazines, collects souvenir buildings, and has recently loaded far too much Krautrock onto his iPod.