A new article from Dow Jones Financial News Online finds that a record high 40% of contemporary works for sale at major auctions went unsold in the first quarter of 2009. Only three pieces, including the Anish Kapoor scultpure pictured above, sold for over $1 million (the Kapoor sold for approximately $1.2 million, including the [...]
Posts Tagged ‘art market’
Spending on art way down at top end of market
Posted in Auctions, Economics, tagged Anish Kapoor, art, art market, auction results, public art, sculpture on April 22, 2009 | 6 Comments »
Art market panel discussion in NYC tomorrow
Posted in Events, tagged art market, free, panel discussion on April 21, 2009 | Leave a Comment »
The art market, like the economy as a whole, is in a turbulent state. With investments dwindling and unemployment rising, a certain segment of art collectors is finding it difficult to justify spending on this “luxury” good. It’s intriguing to consider how this economic uncertainty will affect supply and demand in the art market in [...]
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