Art Industry Insights With Reena Devi

  • Everything, Everywhere All At Once: Sotheby’s As A Case Study

    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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  • Is The Art Market Heading Towards A Labour Crisis?

    Figures reveal increasing gains in renumeration, sales, and employment opportunities at the art market’s high end. Will this worsen workforce issues brought on by accelerated technology? During the pandemic, as the art world drew to a grinding halt, there was an attempt, however short-lived, to face the myriad employment issues plaguing one of the most…

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  • Will The Auction Houses’ Pivot To Luxury Pay Off?

    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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  • Is Bigger Always Better During A Recession?

    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…

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  • There’s Something About East Asia

    In March, the World Bank predicted that East Asian and Pacific economies would grow more than it previously estimated, due to a “sharp rebound in activities in China, noting that the region hasn’t been affected by global banking stresses.” On 13 April, CNBC reported that Asia-Pacific markets were lower on Thursday, following official meeting minutes…

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