Published  02/09/2002

The mid-Atlantic sea contemporary art bubble burst

There was one a bright new venture called Eyestorm, which would revolutionise the way the general public could buy art. It got off to a zoomy start in 1999, too late at the top of the dotcom boom. It would break through the prejudice of traditional art galleries, cutting out the inhibitions some of the public felt entering art galleries. Today it has gone the way of the South Sea Bubble too, leaving debts of 18.5 million, as well as owing artists such as David Hockney, Marc Quinn, and Damien Hirst. There were 7,000 paying customers online. But 70,000 are what you need.

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