Often overlooked during the marquee sales are the day sessions where lots of art changes hands. Here’s where the real market lives. And this season we’re getting more evidence that the big players keep a close watch on what happens during these sales. At least, that’s what one big collector/dealer recently told Kelly Crow in the Wall Street Journal:
Jose Mugrabi, a major collector and dealer of contemporary art, is treading cautiously. He says he decided not to consign any works to the higher-stakes evening sales this time but has consigned around a dozen works by artists like Jean-Michel Basquiat and Tom Wesselman to the day sales. “I’d like to see a little more what will happen in the market first,” Mr. Mugrabi said.
This year’s day sales are particularly interesting for Contemporary art because the auction houses were determined to show a new chastity and limit the size of the Evening sales. So the day sessions have a lot of art worth looking at–and more prices worth watching.
The Art Market Searches for Bottom (Wall Street Journal)
