India, June 27 -- Every two years, the Whitney Museum in New York showcases works by America's most promising up-and-coming artists in a highly publicized exhibition. Being selected for the Whitney Biennial can transform an artist's life. It brings newcomers to the attention of prominent gallerists looking to add fresh faces to their rosters and to collectors eager to stay abreast of the competition for emerging talent.

However, if you look up the Biennial's catalogs from a decade ago, you will find that most of the artists they heralded now languish in obscurity. Few have important dealers; fewer still have a strong and consistent auction market for their work. Page through Sotheby's and Christie's auction catalogs of contemporary art f...