The Mei Moses index, set for release on Tuesday, shows art prices fell 35 per cent in the first quarter, having held up during earlier months of the financial crisis.
Mei Moses is of no relations to Mattheus Mei.
The hardest hit from the bubble? Well the FT says that it is the post war modernists who's values decreased substantially. The old masters, obviously out of fashion and favour these past few decades saw less of a drop in value, though they did loose out.
Unfortunately the Financial Times didn't have an assesment of the PoMo movers and shakers -- perhaps the Jeff Koons' of the world aren't considered artist and therefore their works aren't calculated into the "Mei" index (one can imagine right?)