Damien Hirst, For the Love of God, 2007, platinum, diamonds, and human teeth, 6 3⁄4 x 5 x 7 1⁄2".

TO WHAT DEGREE and in what ways have an expanded market and popular interest in contemporary art impacted and shaped the contours of art’s making, collection, circulation, and display—and to what degree does our current situation have any historical precedent? These questions, in one form or another, have been much on the minds of everyone engaged with contemporary art. Indeed, by some accounts, Artforum would seem to be coming “late” to the discussion. But if that is the case, it is hardly unintentional: Lateness, when it comes to the question of art and its markets, is something from which we can only benefit, as it affords a better vantage on the greater arc of recent events while also circumventing breathless conjecture in favor of a serious, sober, and informed assessment, and brings into play the extended reflections every contributor to this issue has no doubt already

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