Artists, architects and curators tell us about the spaces they love—and hate. What makes a museum building successful? Until the arrival of Frank Gehry’s Guggenheim in Bilbao in 1997, this question might have been almost exclusively focused on the best environments in which to view art. But the Guggenheim’s phenomenal success, which allowed the Basque […]
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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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 […]
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 […]
A lawyer, a financier, an art advisor, and a journalist walk into a room… It sounds like the start to a bad gallery dinner joke. But at The Armory Show the topic of discussion was serious: “How to Optimize the Unpredictable Art Market.” In a testament to the topic’s immediacy, moderator and Financial Times columnist […]
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 […]
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 […]
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 […]
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,” […]
It is beyond a doubt that female artists have had a strong year, both in the studio and at auction. Compared to our look over the past ten years, 2015 brings some new faces into the mix, as conceptual wunderkind Tauba Auerbach joins painters Paula Rego and Beatriz Milhazes on the hallowed list of heavy hitters at […]
Paris – France’s Centre Pompidou opened a retrospective of the works of German painter and sculptor Anselm Kiefer on Tuesday with more than 150 works documenting his career from the late 1960’s to the present. Visitors to the exhibition, the first of its kind in France for more than three decades, can stroll through 10 […]
The artist’s new show presents repainted versions of masterpieces, from Titian’s Venus and Mars to the Mona Lisa, with a shiny blue sphere placed in front of each. Standing in front of the Mona Lisa – only this version was around three times the size of the original and had a blue sphere on a […]
The Shanghai financier Liu Yiqian went from taxi driver to multimillionaire. He is also one of China’s most prolific collectors of art. Watch the video.
As the art world braces for an estimated $2 billion fall auction season in the next few weeks, it’s no secret that the global art market is moving ahead at a rapid-fire pace. The stakes appear higher than ever with an unprecedented number of seven-, eight-, even nine-figure works on the auction block. While headlines […]
“No one wants to be a market darling,” an art dealer once told me. It’s the art world equivalent of a one-hit wonder, where sudden stardom and outsize demand for a particularly hot artist creates intense pressure, and has the potential to create unsustainable spikes in his or her market and career. Notwithstanding the fact that the […]
Here’s an interesting question: If the world’s economy is filling markets with a pervasive sense of uncertainty, why is the art market picking up steam for yet another season of what would appear to be massive sales? For the very rich, art is a store of value—which is not a very new idea and one […]