NYT Review: ‘The Price of Everything’ Asks $56 Billion Questions About Art

“There are a lot of people who know the price of everything and the value of nothing,” the art collector Stefan Edlis remarks in Nathaniel Kahn’s new documentary. The words, unattributed in the film and the source of its title, come from “Lady Windermere’s Fan” by Oscar Wilde, where they supply the definition of a cynic. But […]

The End of Exhibitions? As Attendance Plummets, New York Dealers Are Scrambling to Secure the Future of the Art Gallery

To lure the public back into art galleries, dealers are banding together and adopting vintage tactics like the old-fashioned gallery walk. On Wednesday night in New York, 30 art galleries stayed open late to accommodate visitors to the inaugural Chelsea Art Walk, a new initiative spearheaded by the Art Dealers Association of America. It’s a “great […]

The Gray Market: Could Auction Houses Really Help Save Struggling Galleries? (and Other Insights)

Our columnist follows the bread crumbs left by the rumor that Art Agency, Partners will offer gallery advisory services for a hefty fee. It’s not exactly an analytical breakthrough if I tell you that the art industry is deeply troubled and, in many cases, deeply paranoid right now. A lot of people in the trade […]

Private Sales Offer Art for a Few Eyes Only

Private sales through auction houses are suddenly big, but are they new? “It was something that was kept under wraps at most of the houses for some time,” said David Schrader, who joined Sotheby’s last year as its head of private sales for contemporary art. “Now we’re being very vocal about it and putting more […]

A leap into space: Malevich’s Suprematist Composition

How this 1916 canvas, included in every major survey of Malevich’s Suprematist works mounted during his lifetime, revolutionised modern art. On 15 May it is offered in the Impressionist and Modern Art Evening Sale  in New York. On 17 December 1915, a series of new paintings by the Russo-Polish artist Kazimir Malevich (1878-1935) was exhibited in the Dobychina Art […]

How Is Western Art Really Faring in Asia? 3 Trendlines From Hong Kong’s Spring Auctions Reveal the Changing Market

Asian, postwar, and fine art are by far the most bankable categories in Hong Kong. In recent years, Hong Kong has transformed in the eyes of the Western art industry. Formerly a destination that warranted attention primarily during Art Basel Hong Kong and a few scattered auctions, the region now hosts permanent spaces from many of […]

5 Post-War Italian Artists to Know

An essential introduction to Italy’s most collectible names ahead of April’s modern and contemporary art auctions in Milan. Born in Turin in 1940, Alighiero Boetti is today recognized as one of Italy’s most important conceptual artists, and was a leading figure in the Arte Povera movement that revolutionized contemporary art at the end of the […]

From Van Gogh to Richter—what happens when bidders fail to pay up at auction?

Flaky winning bids are knocking the gloss off record-breaking sales. Shortly before Christie’s sale of post-war and contemporary art in New York on 15 November 2017, the auction house learnt of a potential new bidder: a little-known Saudi prince, Bader bin Abdullah bin Mohammed bin Farhan al-Saud. According to the New York Times, a scramble […]

How to sell a billion worth of art

This is Masters in Business with Barry Ritholtz on Bloomberg Radio.   BARRY RITHOLTZ, ANCHOR, BLOOMBERG:  This week on the podcast I have a special guest.  Her name is Brooke Lampley.  She was the former head of impressionist and modern art at Christie’s.  She is the incoming Chairperson of Fine Art Sotheby’s and this is a […]

The Kippenberger Conundrum: How the Wildly Prolific Artist’s Artist Became an Eight-Figure Auction Darling

It was the peak of the 2014 fall auction season in New York, and though nearly two decades had gone by since Martin Kippenberger’s death of liver failure in 1997, the artist’s market had never been hotter. Prior to its bellwether postwar and contemporary evening sale, Christie’s had set the estimate for a prized 1988 […]

The False Narrative of Damien Hirst’s Rise and Fall

The rise and fall of Damien Hirst is an oft-told tale of hubris and nemesis. An art-world superstar in the nineteen-nineties and early two-thousands, Hirst made white-hot works—the most infamous of which involved animals immersed in formaldehyde—whose prices only ever went up. He got rich, his galleries got rich, his collectors got rich, everybody was happy. But, then, […]

The State of Cool Britannia: Art Market in Review

When in the late 1980s and early 1990s, the Young British Artists announced themselves in an alcohol-fueled cacophony of controversy it looked as though the British art scene would never be the same again. Here was a media-savvy group untrammeled by artistic or behavioral politeness. Shock and outrage were a key part of their modus […]

What Is Leonardo’s ‘Salvator Mundi’ Really Selling? Cracking the $100 Million da Vinci Code

Jesus saves, but the buyer of da Vinci’s ‘Salvator Mundi’ will spend—a lot. The signs all point one way: Christie’s upcoming sale of Leonardo da Vinci’s spooky Salvator Mundi is the latest and perhaps most convincing portent that we are living in the End Times. In the Bible, Christ and his apostles held their property in common. Now, this image […]

Beyond Supply and Demand: How Artworks are Priced?

The pricing of artworks is not a simple matter. And while the basic economic principles of supply and demand do still apply to the art market, the factors that contribute to an artist’s “supply,” or the availability of their art for sale, and an artist’s “demand,” or how many collectors are willing to buy their […]

Billionaire Basquiat Collector Yusaku Maezawa Went Shopping at Leonardo DiCaprio’s St. Tropez Art Auction

Leonardo DiCaprio knows that if you want to sell a lot of art, you need to bring in the big guns. Among the guests at the actor’s recent star-studded charity auction in Saint-Tropez was Japanese collector Yusaku Maezawa. Best known for his record-setting $110.5 million purchase of a Basquiat at Sotheby’s in May, Maezawa went home from […]

How the Artist Adrian Ghenie Became an Auction Star

Many say it was the 2011 exhibition at the Palazzo Grassi museum in Venice that first ignited art buyers’ interest in a young Romanian artist named Adrian Ghenie, whose heavy palette-knife paintings are haunted by historical figures like Stalin, Hitler and the Nazi doctor Josef Mengele. Then, in 2015, Mr. Ghenie drew more attention when […]

The Art Market: now what?

This week saw the first post-Brexit art auctions in London, and they brought considerable cheer to a market predominantly dismayed at the Leave decision. To a backdrop of a declining exchange rate for the pound and Britain losing its AAA rating status, on Monday Phillips turned in a modest total of £9.8m hammer (£11.9m with […]

Richard Serra’s 10 Most Expensive Artworks at Auction

Iconoclastic American artist Richard Serra launched an exhibition of his latest steel behemoths at Gagosian Gallery in New York this past Saturday, featuring four new works: Above Below Betwixt Between,Every Which Way, Silence (for John Cage), and Through. It’s the thirtieth big show at the gallery for the artist, who splits his time between New York and Nova Scotia. Suffice it to say, the […]

Stieglitz, Steichen & Weston — how photography became a modern art form

The first decades of the 20th century were among the most fruitful periods of artistic production of the modern era, especially for the still-fledgling art of photography. In New York, just after the turn of the century, a small circle of photographic visionaries revolved around the magnetic figure of Alfred Stieglitz (1864-1946), whose influence as […]