The contemporary art market has been rising steadily for more than a decade. But the prices of the artworks aren’t the only things soaring. The costs of creating many of the sprawling, edgy pieces increasingly coveted by today’s collectors are also skyrocketing, according to veteran gallery owners and art dealers, who say that ballooning production costs are squeezing their profits. Conde Nast Portfolio.com.
Left, Damian Hirst’s $100 million diamond-encrusted skull.
Troy McMullen | Journalist 