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 […]
The contemporary art market settled down to a steadier pace at Sotheby’s New York Wednesday evening, turning in a solid and respectable $294,850,000 sale for the 44 lots that sold. Ten of the 54 lots offered failed to sell for a trim buy-in rate by lot of 18.5 percent. Five works sold for more than $15 […]
Notable dealers have chosen to end eponymous enterprises to join larger entities at a partnership level. Such was the case with Gérard Faggionato, who recently joined David Zwirner in London, and Valerie Carberry, who merged with Chicago’s Richard Gray last spring. Veteran contemporary art dealers Esther Schipper and Jorg Johnen are in the process of […]
MAASTRICHT, the Netherlands — TEFAF Maastricht (The European Fine Art Fair) is in full swing, and during its 12-day run the fair will show off works from 275 of the world’s premier art and antiques dealers. Art+Auction Magazine editor-at-large and ARTINFO market reporter Judd Tully traveled to Maastricht to find out how much you can expect to pay for […]
London—The contemporary art market continued its steady climb at Sotheby’s on Wednesday night, with a sale dominated by a strong grouping of paintings by international blue chip artists that brought in £87,915,500 ($144,550,665). Ten of the 57 lots offered went unsold, for a trim buy-in rate by lot of 17.5 percent and seven percent by value. Twenty […]
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 […]
Anchored by superb works on paper from a storied collector-dealer and an important restituted painting by a French Impressionist, Sotheby’s evening sale of Impressionism, Modernism, and Surrealism brought a stellar £163,461,500 ($266,654,745) on Wednesday night, making it the firm’s highest-earning London auction ever. Of the 89 lots offered, only ten failed to sell, for a […]