Unease grows as it gets harder for artists to resist servicing a booming market The art market appeared to be in rude health as 2014 drew to a close. More money was spent on blue-chip and emerging art last year than at any other point in history, and the trade has been in rapid expansion […]
2014 has been a year of increasing disruption in the art market. While its vastly increased value over the past ten years (€47.4bn in 2013 compared to €18.6bn in 2003, according to the latest Tefaf report by Clare McAndrew) has inevitably brought change, 2014 has seen those changes magnified and evolving in directions that were not […]
When sightings of Leonardo DiCaprio and Miley Cyrus (dressed as deranged vagabonds) at Art Basel in Miami cause a stir, one wonders what remains of the art world. Indeed it is tempting to think that the art world has been swallowed by the combined marketing and publicity machines of Hollywood and the fashion and music industries. Art is an […]
With his trademark style, Robert Hughes explores how museums, the production of art and the way we experience it have radically changed in the last 50 years, telling the story of the rise of contemporary art and looking back over a life spent talking and writing about the art he loves, and loathes. The video […]
Phillips announced the opening of a new auction house and exhibition space in the exclusive address of Berkeley Square, London, on Monday. The official opening will take place during October’s buzzing Frieze Art Fair week. The relocation is part of an ambitious plan to propel Phillip beyond its long-standing third-place position in the auctioneering game (“Ostrowski […]
LONDON — Sometimes art can be difficult to understand. Sometimes the art market can be even more baffling. Back in December, the contemporary dealer David Zwirnersaid in a New Yorker profile that art was “an industry in its golden age.” His point seemed to have been proven during the June 17 preview of the Art Basel fair in […]
In early May, Christie’s invited a group of 18 new collectors from China to visit New York. The auction house escorted the guests on guided tours through the Museum of Modern Art, arranged VIP tickets to a local art fair and threw a lavish dinner in the Rockefeller Center ballroom of Christie’s. Auctioneers also reserved […]
When artists agree to be represented by a gallery, they usually work out with the gallery owner such matters as the amount of the dealer’s commission; how often their work will be exhibited in solo or group shows; the price of their artworks; that sort of thing. Another expectation, usually not as explicitly stated but increasingly […]
Standing before Marc Quinn’s looming Myth Venus sculpture in front of Christie’s Rockefeller headquarters last night was a masked protester holding a large poster that readF*** U. It was a parody of Wade Guyton’s 2005 Untitled that sold for $3.52 million just hours later at the live-streamed “If I Live I’ll See You Tuesday” auction, which included 35 contemporary artworks from blue-chip […]
Convinced that consumers are finally ready to shop online for Picassos and choice Persian rugs in addition to car parts and Pez dispensers, Sotheby’s, the blue-chip auction house, and eBay, the Internet shopping giant, plan to announce Monday that they have formed a partnership to stream Sotheby’s sales worldwide. Starting this fall, most of Sotheby’s […]
Art Basel and the London summer auctions are behind us, and the auction market continues to hit unprecedented peaks. But today’s records and art stars came straight out of yesterday’s headline-grabbing auctions. With that in mind, we take a look back at some major milestones of the last few decades—from the 1973 sale that arguably […]
Moving the opening of the Venice Biennale to May has set the cat among the pigeons. When it was announced that the Venice Biennale was shifting the date for the opening of its 2015 edition to 9 May (with previews from 6 to 8 May), it sent the whole art market into a frenzy. The […]
The furore around the work, complete with vodka bottles and pregnancy tests, helped to give lift-off to Emin’s career. Few pieces of art have divided opinion quite like My Bed – in whichTracey Emin claimed to have spent a week after a bad break-up. Complete with vodka bottles, cigarette butts and pregnancy tests, the installation didn’t […]
BAC is off to Frieze NY for the 3rd instalment of this excellent Fair (hopefully it will be a little less, ah, dramatic, this time…). Lots of other things are happening in New York at the same time, including the “satellite” Art Fairs: NADA, PULSE, and even “outsiders” are invited, to the Outsider Art Fair. […]
In May 2013, German artist Gerhard Richter broke his own record when his 1968 painting “Domplatz, Mailand,” which looks like a fuzzy black-and-white photograph, sold at auction for $37 million, the highest amount for any living artist. It was a record he held for six months, until Jeff Koons’ “Balloon Dog” smashed it, selling for […]
I have been an invited interloper in the fiefdoms of the decimal-pointed rich long enough now to know that when rich men want to distinguish themselves from other rich men they buy art. Among practitioners of modern-day social one-upmanship this is hardly new. The nouveaux riches of the Gilded Age were the first Americans to […]
London—The market for the relatively esoteric Italian art movement of the mid-1960s known as Arte Povera (Poor Art) took a giant leap forward at Christie’s on Tuesday evening with a single-owner sale that earned £38,427,400 ($63,020,930). The figure compared well to pre-sale expectations of £25.7-36.5 ($42.1-59.9 million). Of the very large number of offerings in the […]
Back in 2012, I wrote a post with the headline “How Larry Gagosian is like Goldman Sachs”. The general idea was that both of them use their relationships and their balance sheet to make money off and/or with their clients. Since then, as Christian Viveros-Fauné says, the art world has become even more coterminous with the art market: “Business […]
Holland Cotter Looks at Money in Art A new year. A new New York mayor. Old problems with art in New York. I have a collection of complaints and a few (very few) ideas for change. Money — the grotesque amounts spent, the inequitable distribution — has dominated talk about art in the 21st century […]
Christie’s and Sotheby’s Woo Big Sellers With a Cut When Christie’s sold Jeff Koons’s “Balloon Dog (Orange)”for $58.4 million in November, it seemed as if the auction house had just earned a pretty penny. After all, Christie’s, like other auction houses, typically charge commissions to buyers and sellers, which for high-priced works might be an […]