Category: auction houses
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A version of this analysis was commissioned by London-based Pictorum Advisory for their October Quarterly Report. There is a palpable bleakness in the international auction market of late. Phillips reported a 39 percent drop in global sales during the first half of 2023, from $746 million in the first half of 2022 to $453 million…
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A version of this analysis was commissioned by London-based Pictorum Advisory for their June Quarterly Report. Christie’s and Sotheby’s increasing engagement with the states of GCC (Gulf Cooperation Council) begs a closer look at the region’s aspiring and established creative economies. Last month, Christie’s Middle East reprised its Modern and Contemporary Middle Eastern art auction…
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This spring Sotheby’s set the New York art scene abuzz with its purchase of the landmark Breuer building from its previous owner, the Whitney Museum. The auction house plans to move from its current York Avenue headquarters in early 2025, to the iconic building on Madison Avenue in the Upper East Side with updated galleries,…
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During the peak of the pandemic, wealthy, listless people stuck in lockdown spent their time outbidding each other online, turning nearly every luxury acquisition into a “so-called alternative asset class.” So it made complete sense when the likes of Sotheby’s launched an online auction ‘Scarce Air’, featuring the rarest Nike sneakers ever produced, from 18…
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For anyone in the art world still in denial about the recession, this month’s New York spring auctions present a stark truth. Christie’s New York had a slew of works from a number of single-owner collections on the block, namely Chicago commodities trader Alan Press and his wife Dorothy, the late Boston Institute of Contemporary…
Art Industry Insights With Reena Devi 