Share:Christie’s auction house in London hopes to raise more than 57 million pounds at an upcoming auction of Post-War and Contemporary Art auction. As banks go bust and the world’s stock markets reel, Christie’s unveiled the works that are up for grabs. The auctioneer hails the collection as the most valuable and comprehensive autumn sale […]
Share:By Stephen Adams The stratospheric state of the global art market has been underlined by figures that show last month’s ‘Monet’ auction at Christie’s in London was the most lucrative in European history. The sale of Monet’s Le bassin aux nymphéas doubled the previous record for a work by the Impressionist artist Despite the global […]
Share:By Eugenia Levenson Is there a bubble in the art market? Sales of high-end works defy expectations amid an expanding pool of oil-rich buyers.NEW YORK (Fortune) — Luxury these days is a tale of two markets: consumers continue to snap up high-priced Louis Vuitton bags even as they balk at paying full price for Coach […]
Share:ON THE very day that a study by Francis Bacon, who died in 1992, sold for £17.3m ($34.4m) in Christie’s biggest contemporary-art sale, a group of British artists fired the opening salvo in what could prove a drawn-out battle. Should their heirs be entitled to royalties on such sales? Led by Damien Hirst, Britain’s most […]
Share:Deborah BrewsterSales in the art market this week exceeded even the most optimistic expectations, with buyers at major New York sales defying widespread fears of a market slump as a result of the credit crisis.Sotheby’s had its biggest sale ever by dollar value on Wednesday night, selling $362m worth of contemporary works. It sold a […]
Share:Deborah BrewsterWhen Roman Abramovich, the Russian metals and minerals tycoon, and Sheikh Saud al-Thani, from the Qatari royal family, both showed up this month at the Basel art fair, their presence caused a stir but no surprise. The commodities market and the art market have grown unlikely links.The huge wealth from oil and mining in […]
Share:Elizabeth BlairLike most everything else, the price of waterlilies is going up. A painting from Claude Monet’s waterlily series auctioned off Tuesday night in London smashed the previous record for a work by the impressionist, fetching $80.5 million.The eye-popping sale illustrates that while most ordinary people are cutting out non-essential spending, wealthy art collectors aren’t. […]
Share:Analysis Rachel Campbell Johnston If you’ve got a bruiser of a Francis Bacon on your drawing-room wall then you have probably grown used to its visual punch. You may not want an Impressionist next. However lovely a painting by Alfred Sisley may be, with its pointillist dots scattered daintily across the canvas, it will look […]
Share:By Deborah Brewster in New York The big June art sales, which start Tuesday in London, are expected by the auction houses to break more records as collectors from commodities-rich regions such as Russia and the Middle East emerge to fuel the decade-long boom in the art market.Sotheby’s and Christie’s, the two main auction houses, […]
