Share:The two houses will do almost anything to outmaneuver each other, and the friction between them will likely only increase under new CEOs. by Stephanie Baker and Katya Kazakina Illustration: Greg Kletsel/Bloomberg Markets This May, after billionaires had outbid billionaires in New York’s contemporary art auctions, something became immediately clear: Christie’s had just clobbered Sotheby’s […]
Share: A collection of over 20 paintings by legendary artist M.F. Husain fetched $4.7 million at auctions held at the prestigious Christie’s and Sotheby’s in New York. An auction held on Thursday at Sotheby’s of 11 masterpieces by late Husain fetched a total of $557,500 with one of his paintings Man with Sitar selling for […]
Share:Source: Artprice The art market recovered its momentum in the first half of 2010: + 71% in auction revenue from Fine Art alone! This fact has been quickly seized by the auction houses who are now predicting annual growth in 3 figures in order to reassure a still hesitant market.In line with this market trend, […]
Share:Aug. 5 (Bloomberg) — Sotheby’s Chief Financial Officer William Sheridan said art prices and sales have stabilized, after the New York-based auctioneer reported a worse-than- expected 87 percent drop in second-quarter earnings. “Unless there’s some external event we’re not aware of, we believe the market has bottomed out,” Sheridan said in an interview last night.Auction […]
Share:By Alexandra A. Seno HONG KONG— Held May 24, Christie’s Hong Kong spring sale of Asian contemporary and Chinese 20th-century art saw healthy results, due in large part to its more careful selection of works, smaller scale, and tighter focus on what old-money Chinese art collectors covet. Quality works by Chinese masters from the 1950s […]
Share:Georgina Adam 19.1.09 Issue 198 The general economy and also the art economy is clearly headed for some choppy waters…” This is what mega-dealer Larry Gagosian told his staff in a tough-talking, if ungrammatical, memo published last November in Flash Art, as the global financial meltdown continued to panic investors, the US recession was officially […]
Share:By Judd Tully NEW YORK—In a year of staggering changes and banner headline news, from the election of a new American president to the unraveling of a multibillion-dollar Ponzi scheme, the art market had its own rollercoaster ride of record-shattering marks and stomach-churning declines.Thanks to the seismic upheavals in the world equity markets, some newbie […]
Share:By Scott ReyburnLondon auction houses sold a record 558.8 million pounds ($1.1 billion) of art including fees over two weeks, with buyers coming into the market seeking to make money as other investments stalled.The total, calculated by Bloomberg from auction house results, is the highest for Impressionist and contemporary sales in London, beating the 521.1 […]
