Does Monet Beat the Dow? How Artworks Perform as an Investment

Everyone loves a story about collectors who bought art for a song and sold it for a million. Once in a blue moon, that actually happens. In the case of Impressionist art, though, dappled landscapes and dreamy portraits by Monet, Renoir, and Degas were oftentimes considered investments before the paint on the canvas had dried.   For answers, we […]

Martin Creed on Bloomberg’s ‘Brilliant Ideas’

With works spanning two decades that force us to pause, reflect, and see the world through fresh eyes, Martin Creed has challenged what it means to be an artist. Born in Wakefield, England in 1968, Creed grew up in Scotland where his father worked as a silversmith and lectured at Glasgow School of Art. Creed […]

Forget the Loft: The Newest Trend in Luxury Real Estate is Walls

For Wendy Maitland, Town Residential’s president of sales, an Oscar-winning director client of hers was a typical real estate shopper with typical requests. He had a seven-figure budget and was keen to buy into one of the many new luxury condo complexes sprouting around Manhattan. The client was downsizing from a huge country house in Connecticut since his […]

One of the World’s Great Collections of Modern Art …?

Inside the rotunda of the Tehran Museum of Contemporary Art, a circular walkway spirals down from the street level, like an underground version of Frank Lloyd Wright’s Guggenheim Museum in New York. A series of galleries branches out from there, giving up astonishing secrets from one of the finest—if forgotten—collections of 20th century art in […]

Auction Houses Jockey to Lead Sales in First Big Market Test

Art auctions used to be a gentlemen’s business. Now the gloves are off. As art sales face their first major test since the August financial market rout, auction houses are jockeying not only for trophy artworks but also for the best positions to highlight them at the November auctions in New York. The result is […]

10 Gallery Shows You Need to Pay Attention to This Fall

There have been persistent murmurs in the art world about the imminent (market) demise of the so-called Zombie Formalism movement, a kind of colorful, undemanding type of abstract painting that’s commanded astronomical prices for the past few years. Dire predictions and a few disappointing auction results aside, the evidence is hardly overwhelming. And yet, looking ahead to the fall’s most […]

Art, Not Sotheby’s Profit, at Records in Fight for Works

The art market is going from record to record, so why aren’t the auction houses making more money? Sotheby’s reported an unexpected second-quarter decline Friday in part because it lost money on a painting that sold for less than anticipated. The news sent its shares down 7.5 percent to $37.49 in New York on Friday, […]

Why do so Many Art Galleries Lose Money?

The art business is booming, but many galleries are barely getting by. One German expert thinks he knows the answers. On Tuesday, the highly respected Wallspace gallery in Manhattan’s Chelsea neighborhood announced it would close its doors permanently on Aug. 7. The lease was up, and “it necessitated a reevaluation,” said Jane Hait, who co-founded the space with Janine […]

Giant Bronze Babies Make Qataris Queasy as Nation Gorges on Art

Seventy kilometers west of Doha lies the Brouq Nature Reserve, a sand spit in the Gulf of Bahrain where Qataris like to camp and wax nostalgic about their grandparents’ nomadic Bedouin lifestyle. To get there, you drive an hour along a highway bordered by electrical towers and plastic barriers that prevent blowing sand from drifting […]