On Newbury Street, they're slashing prices and, in the case of one gallery, offering a special "no interest, no money down" deal to prospective buyers. In auction houses, the works of big-name artists are being sold for millions less than they fetched just a few months ago. And instead of fighting to gain access to hot, young artists, collectors are able to think through potential purchases over multiple gallery visits and even meet the creators themselves. Similar to what's happened in the housing market, works that wouldn't have lasted a night during the art boom now hang on walls for weeks.
''We were really trying to think of ways to make buying art from us easier,'' said Jane Young (above), manager of the Chase Gallery. (David L. Ryan/Globe Staff)