No surprise in London
[
29 Jun
]
The results of the Impressionist & Modern sales in London last week were without surprise (except for the withdrawal of Camille PISSARRO’s, Le Quai Malaquais) and made the era of 8-figure auction results an even more distant memory. Both auction houses generated eight sales above the $1m line. The bought-in rate was not identical however: 15% at Sotheby’s (out of 27 lots presented) and 32% at Christie’s (out of 45 lots offered).
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London sales: second round
[
22 Jun
]
On 23 June, Christie’s will be offering 45 Impressionist & Modern works in London and the following day Sotheby’s will present just 27 pieces. The catalogues feature works by Picasso, Claude Monet and Giacometti. On 25 and 30 June, the two auctioneers will open their Contemporary Art sales
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Niki de Saint Phalle braves the crisis
[
15 Jun
]
After the sale of three Niki de Saint-Phalle’s giant Nanas in Germany in December 2008 for €750,000, the Paris sale last month of her Le Banc produced another excellent result. The French-American artist – whose works are collected all over the world – is generating good sales performances in spite of the crisis.
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Venice Biennial Art Fair: the Golden Lion prize
[
08 Jun
]
The 53rd Venice Biennial Art Fair opens to the public on 7 June 2009. For six months it presents a panorama of global contemporary art in pavilions representing the artists and countries invited. Launched in 1895, the Venice biennial has a long tradition of selecting a handful of artists to receive its prestigious prizes. Do the Golden Lions - awarded parsimoniously over the years - constitute an accelerator for the price indices of the artists that receive them?
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Contemporary art sales in Paris: place of honour for Lalanne
[
01 Jun
]
While New York’s auction houses hosted sales of South American art, the Paris offices of Sotheby’s and Christie’s were selling Contemporary Art during May. The results are better than expected for Christie’s primarily due to the sale of a collection of works by François-X. & Claude LALANNE.
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Mixed results in New York
[
26 May
]
At the end of the first quarter of 2009, the global art market price index showed a 10% contraction. But in New York City, host to some of the world’s most prestigious art sales, the crisis is being felt particularly hard: the same index shows a 35% local contraction since January 2008.
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Affordable art: a diversified market
[
18 May
]
For 10 years now a special “roaming” art fair has been dedicated to affordable art contributing to dispelling the notion that art is elitist and beyond the budgets of the masses.
From 4 to 7 June 2009, the Affordable Art Fair is returning to Paris, at the Espace Champerret, having already visited London, Sydney, Amsterdam, New York and Brussels. Young collectors and informed non-professionals seeking new talents can discover more than 600 artists at prices ranging from 100 to 5,000 euros.
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New York penalised by the crisis
[
11 May
]
Since January 2008, prices in the Impressionist & Modern Art segment have posted a cumulative fall of roughly 30% and they contracted no less than 10% in the first quarter of 2009 alone. So, inevitably, the first day of the Impressionist & Modern Art sales in New York was awaited as a test of the top-end of the market.
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Christie’s and Sotheby’s prepare their prestige May sales in New York
[
04 May
]
The market is holding its breath ahead of the critical May sales in New York that will inevitably gauge the health of the Impressionist, Modern and Contemporary segments.
As expected, the price tags are substantially lower than a year earlier in all three segments
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First quarter of 2009: an ailing art market
[
27 Apr
]
Since the financial crisis began, the art market has taken a series of severe blows and is now subject to various external and internal pressures. In the United States, for example, the fall in private subsidies to the Arts has led to significant personnel reductions at some of the most prestigious museums (the Detroit Institute of Arts and the Museum of Contemporary Art in Los Angeles have both cut staff by 20%).
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