ArtList, an online platform for anonymous secondary market sales of art, is ceasing operations. In June, during the week of Art Basel, a British art appraisal company was set to sign a deal to acquire the New York-based start-up but it went awry on the very day that it was meant to be signed. The […]
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 […]
The drab free port zone near the Geneva city center, a compound of blocky gray and vanilla warehouses surrounded by train tracks, roads and a barbed-wire fence, looks like the kind of place where beauty goes to die. But within its walls, crated or sealed cheek by jowl in cramped storage vaults, are more than […]
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If you build it, they will come. Or that’s what the board at the San Francisco Museum of Art is betting on. This week, the 81-year-old institution opens its doors after a three-year renovation, gifting the West Coast with a world-class collection that would make MoMA blush. Sure, you can see Richard Serra in New […]
A man paints with his brains and not with his hands – Michelangelo An artist is somebody who produces things that people don’t need to have – Andy Warhol Art is anything you can get away with – Marshall McLuhan A collector has one of three motives for collecting: a genuine love of art, the investment possibilities, or its […]
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 […]
Galleries have always provided scholarly support for museums exhibiting their artists’ work. Now they’re expected to provide money, too. In today’s exploding art market, amid diminishing corporate donations and mounting exhibition costs, nonprofit museums have been leaning more heavily on commercial galleries for larger amounts of money — anywhere from $5,000 to $200,000 each time […]
As far as a painting’s hammer price is concerned, other, less noble considerations matter a great deal more than the picture’s intrinsic quality. Determining the market value of a picture can be a surprisingly heartless experience. There before you stands a fine portrait by a great artist, whose energy and creative genius you see emblazoned […]
Never has the phrase “Hindsight is 20/20″ held as much weight for anyone as it has for collectors and other art world observers in the wake of the recent high-profile Knoedler forgery trial. The case was settled a few days ago (February 10), but not without the art world experiencing a mountain of frequently cringe-worthy evidence and an earful […]
If a collector wanted to buy a Frank Stella at Art Basel Miami Beach last December, he could have walked up to the booth of New York’s Marianne Boesky Gallery, which represents Frank Stella. Or, he could have walked up to the booth of London and New York gallery Dominique Lévy, which also represents Frank Stella. […]
What kind of person opens a private contemporary art museum? According to a new reportby the art collector database Larry’s List and the Chinese art market site Artron, he’s probably in his 60s or his 70s; he’s probably from South Korea, the US, or Germany; he probably founded his museum in the last 15 years; and he’s most […]
Did anyone catch the Guerrilla Girls’ brief appearance on The Late Show with Stephen Colbert? Masked members of the anonymous feminist art collective gave a short introduction to what they do, and gave some really good answers as to why we should care about what museums collect. When Colbert asked about the important of even noticing […]
In a dramatic development for the auction industry, Sotheby’s announced on Monday that it had acquired Art Agency, Partners, a two-year old, New York-based art advisory company, for $50 million plus built-in performance fees that could elevate that number to $85 million over the next four years. “AAP’s profitable business helps drive initiatives that are […]
In a somewhat surprising move, Sotheby’s announced today it will pay $50 million in cash to acquire the art advisory firm Art Agency, Partners and create a new Fine Art Division run by AAP’s Amy Cappellazzo and Allan Schwartzman. The deal could reportedly total $85 million if the performance benchmarks over the next five years. The left-field […]
Renowned photographer Donald Graham brought a federal complaint against Gagosian Gallery, Larry Gagosian, and artist Richard Prince on December 30 for unauthorized use of one of his famous images,Rastafarian Smoking a Joint, in the 2014 show “New Portraits.” Along with the black-and-white image of a Rastafarian man lighting a marijuana cigarette, which is the subject of […]
Although modern European artists were the big performers at auction in 2015, contemporary art remains the most profitable market segment by far. Buoyed by increased participation of international collectors from emerging markets, media attention driven by large price tags, and the perception of glamour generated by events such as Art Basel Miami Beach, the market […]
“Buy the best, forget the rest” has become the conventional wisdom for collectors in today’s investment-minded art market. But what does “the best” mean? Clearly it meant different things to the 77,000 people who flocked to Art Basel Miami Beach this month. The fair, the last major event of 2015 for the hectic contemporary art […]
It seems as if there’s never a quiet moment in the art world, especially during boom times. There are record-breaking auctions,controversial exhibitions, and even violent episodes by artists, as well as trolling by the general public. Here’s a quick guide to some of the more scandalous news reports that have happened over the course of this year.
The most expensive living artist in Europe, Gerhard Richter, criticized the art market and denounced the hype surrounding contemporary artists, including himself, as a “cult of personality.” Speaking to the German weekly Die Zeit, the 83-year-old painter said the exorbitant prices his artworks achieve at auction were proof of how “insanely the art market has developed,” […]