By
Rohin Guha
November 18, 2008
If they looked half as pretty as papel picado, then these particular cuts in the art world probably wouldn't be rattling so many feathers. But the slump in the art market was foretold by its own share of harbingers: from this year's generally tepid Frieze Art Fair purchases to the decline of sales at Sotheby's to failure of MoMA's pre-fab architecture to sell. More harrowing news comes in the form of personnel reductions at New York's Pace Wildenstein.
