Planning on putting down some serious change on some serious art? Here’s a really smart discussion about the current, globalized art market by Andras Szanto, former head of the Arts Journalism Program at Columbia University and current senior lecturer at Sotheby’s Institute of Art. According to Szanto, we’re watching a “new cultural universe” being born.

If you didn’t catch him being interviewed by Kurt Andersen on Studio 360, listen up here or check out his blog, artworldsalon.