LONDON - A diamond encrusted platinum skull designed by the British artist Damien Hirst has been sold to an investment group for $100 million, a spokeswoman for his London gallery said Thursday.

Hirst will be allowed to exhibit the work in an upcoming international exhibition under the deal, White Cube spokeswoman Sara Macdonald said.

"The investment group anticipates selling it within the next few years," Macdonald said. She refused to disclose the identity of the buyers, as they had asked to remain anonymous.

Macdonald said Hirst retained a stake in the work. She would not give details on the size of his stake but said he would sell his share when the piece is next put up for sale.

Hirst had the glittering piece, which was modeled on a real skull, built from 32 platinum plates and 8,601 diamonds, using a hand laser to cut thousands of tiny diamond settings.

The work has a 52-carat pink diamond at its center and is studded with 14 pear-shaped diamonds.

Hirst said the piece, called "For the Love of God," was meant to highlight the transience of human existence. Critics called the work flamboyant and showy, but that was business as usual for Hirst, who has consistently courted controversy — and huge sums of cash.

A leading member of the so-called Young British Artists, a group that dominated the British art scene in the 1990s, Hirst is perhaps best known for his work involving slicing, dicing and pickling animals and fish in formaldehyde.

Hirst bought the skull used in his latest work from a taxidermy shop in Islington, north London. Carbon dating suggests the skull is from a European male in his 30s who lived sometime between 1720 and 1810.

Check out the pic in the story.

Dumbest investor group of all time...unless and until they find an even dumber group to sell to.

This is America! Finding stupid people is easy!

I found these words interesting:

QuoteThe plan to resell the skull indicates Hirst hasn't yet found a final buyer for his most expensive artwork, at a time when hedge fund managers and other art collectors have lost money in the credit markets. The artist's participation in the temporary buying group may provide a clue to how the full $100 million sale price was achieved. The skull cost $20 million to make, including diamonds and fabrication, according to Dunphy.

`Investment Not Art'

``The sale keeps Hirst in the news, reinforces the demand for his work and makes everyone who spent money at White Cube feel good about their investment,'' said California private dealer Richard Polsky. ``This is all about investment, not about art collecting.''

Hirst is also notable for having referred to the attack on the World Trade Center as "an artwork"

QuoteThe thing about 9/11 is that it's kind of like an artwork in its own right ... Of course, it's visually stunning and you've got to hand it to them on some level because they've achieved something which nobody would have ever have thought possible - especially to a country as big as America. So on one level they kind of need congratulating, which a lot of people shy away from, which is a very dangerous thing.

It's a dumb idea to invest in dumb artists, more so in 90s has-beens.

Quote from: Serious PaulThis is America! Finding stupid people is easy!

The artist and the story are both from London. The investors are unknown.

That said, I think I found the centerpiece for my dungeon. hehehe (rubs hands together) - thake THAT , Demi-Lich!

It's getting around that this skull work is derivative of someone else's work from earlier this decade.

Quote from: WerekoalaThe artist and the story are both from London. The investors are unknown.

We're so stupid we can't find London in the story!

Wow. He just made a demilich.

It is of course the Head of Vecna...

If it has laser eyes or magic powers it might be cool!

mount it on a stainless steel pole and use it as a staff of office!  bwa ha hah ha!

Lack of taste, combined with a lot of money. Art. :/

Quote from: MelanLack of taste, combined with a lot of money. Paris Hilton

An alternative take.

Maybe someone can encrust her skull with diamonds and stuff when the reaper finally collects his due...

Quote from: DrewMaybe someone can encrust [Paris Hilton's] skull with diamonds and stuff when the reaper finally collects his due...

Why wait?  You're just burning daylight.

!i!