Art and money 'inextricably linked' - 31/08/2010

Art and money are inextricably linked, according to the BBC, something that will be clear to anyone attending auctions in the field.

Kevin Peachey was writing for the news provider in response to one of the shortlisted works for the fourth plinth at Trafalgar Square in London, an organ that plays music when people use the working cash machine at its base.

The pipes will play when numbers are pressed on the keypad and the artwork, created by Jennifer Allora and Guillermo Calzadilla, is said to take a humorous look at issues including personal banking, the financial crisis and the link between art and money.

As Mr Peachey points out, the relationship between the two spheres can sometimes be surprising, with the global recession doing little to stunt the strong performance of artworks at auction.

"Whether it is as the subject or as the price - and irrespective of the economic climate - there is little doubt that money will be included in discussions about art for many years to come," he wrote.

In early August, Christie's said worldwide art sales were at £1.71 billion for the first half of the year, up 46 per cent compared to 2009.

This figure included the £65 million paid for a sculpture by Alberto Giacometti in London this February, a new record for an artwork at auction.