In 2005, a new group of American collectors speculating on contemporary art emerged to the forefront of the art market, raising the value of relatively unknown artists at the time, such as Richard Prince. Speculating on contemporary art, the emergence of hedge fund managers and ‘professional’ collectors dramatically increased the demand for certain artwork. Molly Concannon, director of the ACME. Gallery in Los Angles, shows that five years later, there is no artist, gallery or museum that has not been greatly affected by the decisions made by this speculative group of investors, permanently altering the art market and changing the course of contemporary art.
