Christie's auction house announced that they were going to do a New Media auction, which came as a great surprise to many. New Media is largely ignored in the 'established art world' and this was even going to be an online auction. Seemed hot. In this article, Paddy Johnson explains why it's not what it's cracked up to be, and kinda lashes out at the auction house for it.
The reason I post it is because it resonates with the unwillingness to pass on the reigns to the new generation. We've seen this in so many economic categories, but to see the old guard of art not flinch at us all tapping away at their shoulder is a bit fucked up too, really. And trust me—they command a whole lot of power.
Surely in the next year there will be a [FIXED] auction for the New Media category, but I highly doubt it will ever come from the powers that be—unless it's an older artist trying out what the kids are doing.