Clare McAndrew’s new art market report, co-published (whatever that means) by ArtBasel and UBS, has been released. It features a closer look at art galleries and how they conduct their business. The data was gathered through an online survey of approximately 1100 dealers and in-depth, in-person interviews with a smaller number of galleries.Continue Reading
The New York Times’s report from Maastricht does its best to put a bright face on the fair but a somber tone keeps slipping in. Here’s Scott Reyburn’s take in a paragraph:
“It seems a lot more local this year,” said the London dealer Richard Nagy, a specialist in modern German and Austrian art, echoing the observation by other exhibitors that the Tefaf 2017 crowd was dominated by middle-aged European visitors. With few affluent Americans, Asians and Russians attending, sales were down for many of the dealers interviewed for this article.
Tefaf Maastricht, While ‘Softer,’ Still Impresses (The New York Times)
A Dutch news outlet confronts the change of play in the Old Masters market since the discovery of several exceptionally good forgeries that are roiling the private market. The unexpected twist is that Sotheby’s has stolen a march on the market and now threatens to overshadow the trust in dealers:
“Collectors are being given the impression that it’s safer to buy art at an auction house than at a fair: at least an auction house will pay compensation if it’s a forgery,” says one insider.
Today’s opening of TEFAF in Maastricht, the world’s leading Old Master fair, puts this in sharp relief. It also raises the issue of TEFAF’s vetting and whether the fair’s vetting protects buyers:Continue Reading
Alexander Forbes of Artsy opens his preview of the new, new Armory Show, a fair that has struggled to define itself in the new era of global art fairs, with this frank description:
“The yardstick when I came in was getting to the level of a Basel fair,” says Benjamin Genocchio of his remit one year ago when he became director of The Armory Show. The 47-year-old former art journalist came out swinging for the Swiss mega-fair and for Frieze. But in the weeks before the 2017 edition of The Armory Show, the first that truly bears his signature, a more demure Genocchio has emerged—and with him a revised strategy for the fair that he says plays to its strengths while rethinking what it means to be relevant in the current market. […]
NBC has some of the numbers on this year’s Zsona Maco:
[T]he fair now attracts about 50,000 visitors and exhibitors from more than a dozen cities, from New York to Madrid and Berlin to Buenos Aires. The works displayed represent more than 120 international galleries and more than 1500 artists.
Artsy’s Molly Gottschalk gathered sales from Zsona Maco in Mexico City last weekend:Continue Reading
The New York Times has been pushing the idea, for a year or so, that the global art market must be facing an inevitable reckoning. It began with 2016’s slowdown in auction volume. The paper continues with its steady questioning of whether buyers will want art in the age of Trump.
The problem with the Times’s single-minded premise—the art market can only be binary, up or down—is that the paper is blinded to possibility of more complex turns in the global trend toward placing value in works of art.
“Art is a transcontinental commodity,” said William Weston, a specialist dealer in modern prints, who was at Phillips on the evening of Jan. 19 for the auction house’s eighth “Editions” sale of prints in London. “Nationalism won’t harm its trading position. It won’t affect the market in New York or London. Americans won’t stop buying David Hockney because he’s a British artist.”
It’s time for the Outsider Art Fair and Christie’s coincident auction which have been growing the market for Outsider art which has had several cycles (going back to the 1930s) of popularity in the US.
Bloomberg’s James Tarmy tries to situate the trend:
“Collectors who have been supporting this market for the past 20, 30, even 40 years are excited for new discoveries at the fair, and to see how their old discoveries are now valued much higher,” says Becca Hoffman, director of the Outsider Art Fair. “This is about everyone sort of prospering from the growth of Outsider Art.”
Tarmy also wants to identify other contributing factors:Continue Reading
As Art Stage Singapore is set to open, Lorenzo Rudolph has some stark words for the city-state’s culture industry where art sales are off 25-40%:
“Everybody is asking: Where is Singapore going? We all know Gillman Barracks has problems, we all know galleries are trying to survive and some have left. We all know also that institutions are not in the best position.” […]
David Norman delves into his 30 years experience as a top specialist in Impressionist and Modern art to discuss in this podcast sponsored by Christie’s Education New York the results of the November sales in New York.
*Norman explains the backstory behind Wassily Kandinksy’s Rigide et courbé and the not-easy decision to guarantee a post-Bauhaus Kandinsky at that level.
*Norman offers some of the market history behind Edvard Munch’s Girls on the Bridge.
*We learn more about how the changing tastes have effected the prices for Monet’s gainstacks.
*Also discussed here are many works that were previously offered nearly a generation ago that failed to find buyers but now achieved major prices, as well as surprises for Miro, Chagall, Picasso and others.
Sponsored by Christie’s Education New York: