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Posts Tagged ‘art market’

A reminder that things aren’t yet rosy again at Christie’s

Posted in Auctions, News, tagged , , , on August 20, 2009 | Leave a Comment »

Bloomberg reports that Christie’s is scapping plans for an art investment fund and loan division.  The article also briefly discusses what we’ve talked about many times before: the downturn in the high-end art market, despite recent successful sales.  Pictured above is an affordable oil on canvas being offered in Christie’s Interiors Sale in early September.

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Was exploitative Michael Jackson art sale a total disaster?

Posted in Indulgences, News, tagged , , , , , on August 20, 2009 | Leave a Comment »

You may remember my previous post questioning the ethics of selling a Warhol depicting Michael Jackson immediately following Jackson’s death.  Well, perhaps others felt queasy, too, because the auction might have been a big fat flop: Vered Gallery isn’t releasing the exact sale figure of the painting, saying it’s “over $1 million,” and it was sold to a speculator, [...]

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Sotheby’s impressionist/modern sale short and sweet

Posted in Auctions, News, tagged , , , , , , , on June 26, 2009 | Leave a Comment »

Carol Vogel of The New York Times compliments Sotheby’s on a relatively successful Impressionist and Modern sale that took place in London on Wednesday.  I say “relatively” because last year’s equivalent sale brought in over $200 million; given the current economic circumstances, however, selling 27 lots in just 50 minutes for around $55 million is [...]

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Online art auctions take hit from down economy

Posted in Auctions, Economics, Tips, tagged , , , , , , on June 20, 2009 | 1 Comment »

Okay, perhaps two street art posts in a row has you craving one of my drier art market posts!  It’s your lucky day.  This AP article picked up by the San Francisco Chronicle outlines how the current economic downturn is negatively affecting sales at many online auction sites. I’ve observed that high end art doesn’t [...]

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Museums and collectors stocking up on Chicago Stock Exchange remnants

Posted in Auctions, News, tagged , , , , , , , , on May 30, 2009 | Leave a Comment »

The New York Times reports that architectural artifacts from the old Chicago Stock Exchange building are increasingly becoming hot commodities on the auction block.  Museums, including the Met and the Seattle Art Museum, have acquired and are prominently displaying these treasures- attractive for both their aesthetic and historical appeal-  in their permanent collections.  Check out the full article and [...]

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(Legal) heat turns up on Warhol Foundation

Posted in Artists, Economics, News, tagged , , , , , , , on May 29, 2009 | 1 Comment »

Thanks to Donn at The Art Law Blog for keeping me abreast of developments in Joe Simon-Whelan’s lawsuit against the Andy Warhol Foundation…I’d forgotten about this since the story broke last year! A federal judge has issued an opinion that allows a significant portion of the lawsuit to move forward.  From The Art Newspaper: The complaint alleges that [...]

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News reports from Christie’s contemporary sale

Posted in Auctions, News, tagged , , , on May 14, 2009 | Leave a Comment »

I wish that I had the time to do on-site blogging for all the sales, but you’ll be forced to deal with some real professional reporting on this one…upbeat assessments of Christie’s Postwar and Contemporary Sale held this week from The New York Times, The Wall Street Journal, Bloomberg, and Reuters. Pictured above is a 1967 Dan Flavin that sold [...]

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An optimistic assessment of this week’s major auctions!?

Posted in Artists, Auctions, News, tagged , , , , , , on May 8, 2009 | 1 Comment »

Souren Melikian of The New York Times must enjoy playing naysayer– he’s written the first article I’ve seen this week giving a positive spin on this week’s Modern and Impressionist sales at the major auction houses, Christie’s and Sotheby’s.  When all else fails, assess the art market in terms of supply and demand!  Click here [...]

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More bad news for the international art market, Sotheby’s in particular

Posted in Auctions, Economics, tagged , , , , , , on May 6, 2009 | Leave a Comment »

It was a buyer’s market at the Christie’s Dubai sale last week.  While within the auction estimate, the evening brought in less than $5 million as compared to the $8.65 million made at the same sale a year ago.  The most expensive lot was Iranian artist Parviz Tanavoli‘s “The Wall and the Script” (pictured above), [...]

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Market update featuring quotes from art powerhouses

Posted in Economics, tagged , , , , , on April 26, 2009 | Leave a Comment »

Mandatory reading from The New York Times!  Carol Vogel speaks with Ann Temkin (chief curator for painting and sculpture at the MoMA), Marc Porter (president of Christie’s America), Steven P. Henry (director of Paula Cooper Gallery), Matthew Marks (of Matthew Marks Gallery), the dreamy Tobias Meyer (worldwide head of contemporary art for Sotheby’s), and others [...]

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