Tag: auction houses

Art market poses money laundering risks, but Treasury opposes regulation for now

Big-dollar transactions and a culture of privacy leave the glamorous world of high-end art vulnerable to money laundering, according to a new report from the US Treasury Department. But officials are not yet recommending comprehensive regulations that would reduce the threat. The Treasury published on Friday a study on money laundering and the financing of […]

US study finds additional art market regulation not needed now

Responding to concerns that the art market has become a breeding ground for illicit financial transactions, the Treasury Department released a study on Friday that says that while it has identified some vulnerabilities, it does not recommend immediate intervention. government to put in place new regulations. The study cited evidence of money laundering using high-end […]

Crypto Moguls Help Drive Global Art Market To All-Time Highs In 2021 | The art market

The global art market has reached record highs in 2021, with billions of dollars paid for works by Impressionist, post-war and contemporary artists, and much of it purchased by people whose wealth comes from cryptocurrencies or other technologies. Over $2.6bn (£2bn) of art was sold in two weeks by major New York auction houses in […]

The Art Market at a Glance: 5 Charts That Map the Biggest Changes in the Industry This Year

If a picture is worth 1,000 words, then a graphic should speak at least 3,000. At Artnet News Pro, we’ve worked to make sense of the wild and often obscure art market. Often the clearest way to do this is to track changes and trends with data. Below, we’ve rounded up five of our most […]

Francis spoke of the explosion of the contemporary art market and his “peephole” career going from artist to auction manager

You have been active as an artist and curator; you had a theoretical and artistic training Historical context. Wasn’t going to an auction house problematic? Many artists, art historians, art critics don’t like auction houses because the evaluation goes through the money. There was that old conflict between art and money, already Pliny in the […]

The art market has changed dramatically. Here’s how to buy art today

Written by Jacqui Palumbo, CNN For a long time, the art market has been “a secret world of whispers,” according to art consultant Kim Heirston, who began her career working in galleries in downtown New York three decades ago. Then, as the archivist of the late gallery owner Robert Miller, she saved and shared only […]

The tribal art market in France has survived Macron’s restitution policy. Can it survive the changing tastes of a new generation?

After French President Emmanuel Macron decided to return 26 bronze artifacts looted from Benin during colonial times, uncertainty persisted as to the impact this would have on France’s leadership position in the classic African, Oceanic and American art. This week, Christie’s raised concerns about how this might affect the private collection, as it declared its […]

Can an art market passionate about young red-chip artists and NFTs still value first-rate white male masters? Answer: Yes, for now

Last month, London and Paris hosted international art fairs in person. New York just hosted a $ 2 billion “gigakin” and 2,000 live auction lots. Admittedly, there were hardly any American and Asian visitors to Frieze London and the Fiac in Paris, and audiences for the high-tech nightly sales studios of Sotheby’s, Christie’s and Phillips’s […]

Auction houses present rare works to interest the passionate art market

Yayoi Kusama’s “Pumpkin” (Seoul Auction) Major Korean auction houses are hoping to continue the sales success they have enjoyed this year in a market buoyed by the popularity of art as an outlet for investment. Two auctions will put up works worth more than 10 billion won ($8.5 million) at upcoming events, featuring rare pieces. […]

Magnus Resch’s online art market courses inspire a new generation of collectors

Navigating the art market can often feel like stepping through a maze that by design only a privileged few have a map. Magnus Resch — art market economist, professor at Yale, serial entrepreneur, and best-selling author of six art market books, including the recent How to become a successful artist (2021) – aims to change […]

What was the art market like during the real roaring twenties? History offers lessons as we enter another decade of decadence

Gertrude Stein held lively salons in Paris. Diego Rivera traveled from Mexico City to Moscow to paint murals. Jacob Lawrence and Romare Bearden, whose families moved north as part of the Great Migration, fueled the vibrancy of the Renaissance from Harlem to New York. The 1920s were when the “world of modern art began to […]

How much stronger is the art market in 2021 than in previous years? We calculated the numbers

You probably don’t need me to tell you the art market is in tears lately. We’re in the midst of a carefully choreographed, award-winning, two-week series of auctions in New York City, which are expected to gross up to $ 1.9 billion. What you might not know, however, is how the inventory really accumulates until […]

Young emerging artists push the art market skyward

What emerges from recent major contemporary art sales is that booming stock markets and low interest rates are pushing collectors to spend, and they seem to be more interested in works by younger and more more diverse. In London earlier this month, nine of the top 10 artworks – i.e. the pieces that exceeded their […]

Exactly how much has the art market rebounded since 2020 and what is driving its growth? We calculated the numbers

This time last year, the art market was emerging from a deep hole. In the first half of 2020, as the world shut down and trade came to a screeching halt, fine art auctions fell more than 50% to $3.3 billion, the lowest total in over a decade. But just as the broader economy has […]

11 Questions The Art Market Should Have About Bored Ape Yacht Club, NFT Craze Rating in Millions, Answered by a True Expert

CryptoPunks aren’t the only NFT characters catching the attention of crypto investors and auction houses. A new digital collectibles craze called Bored Ape Yacht Club has generated tens of millions of dollars at lightning speed and is selling at Christie’s and Sotheby’s. The first offers a Bored Ape Yacht Club NFT at a sale in […]

Consolidating their power in the art market, dealers Lévy Gorvy, Salon 94 and Amalia Dayan merge to form an empire on the Upper East Side

Art dealers Dominique Lévy, Amalia Dayan and Jeanne Greenberg Rohatyn forged independent careers as gallery owners, art advisers and secondary market traders. Over the years, they have also become friends and business associates. Now they’re taking those ties a step further in a merger that signals a major consolidation in the premier gallery industry. The […]

Which country had the most lucrative art market in the world last month? We analyzed the numbers and the results are revealing

In a normal year, June would be the last hurrah before the denizens of the art world leave for the summer. They would activate their autoresponders on the last VIP day of Art Basel before heading to the beach in the Hamptons or the Amalfi Coast (where they would probably surreptitiously respond to emails anyway). […]

We know that the art market is recovering. But how do the numbers compare to pre-pandemic times?

Evening marquee auctions in New York next week have been seen as the first major test of the art market coming out of the lockdown era. But data from the Artnet price database suggests that the art industry is already in a better position than he was at the same time pre-lockdown in 2019. Total […]

Can the London art market rebound?

Excerpt from the May 2021 issue of Apollo. Preview and subscribe here. With fairs canceled and galleries closed over the past year, London’s art market is a shadow of its former self. Will the city experience high attendance again, or are virtual viewings and dwindling sales here to stay? Below, art dealers Stephen Ongpin and […]

The Art Angle podcast: How the pandemic has totally changed the art market

Welcome to Art Angle, an Artnet News podcast that dives into the places where the art world meets the real world, bringing each week’s biggest story to earth. Join host Andrew Goldstein each week for an in-depth look at what matters most in museums, the art market and more with input from our own writers […]

Art market down 22% in pandemic year, study finds

Global art and antiques sales in 2020 are estimated to have fallen by 22% compared to the previous year, according to the latest annual report Art Basel and UBS Art Market reportreleased on Tuesday. The 359-page report, the most comprehensive analysis of the effects of the coronavirus pandemic on the international art trade to date, […]

How craftsmanship became a force in the art market

The line between fine arts and craftsmanship has been blurring for decades. Once closely watched by art historians, curators and critics – who, as scholar Terry Smith once said, generally dismissed craftsmanship as “intimately associated with the hand, with the touch”, everything by associating art with more engaging activities such as “ideas, suggestions, concepts”. – […]

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