Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Why No One Wants to Sell Their $100m Art

April 29, 2011 by Marion Maneker

Carol Vogel cuts against the prevailing grain of art market fever by pointing out that sourcing works for auction has become harder as the market roars back to boom-year levels:

Expectations are lower — if something goes for more than $40 million it will be considered a giant price — and auction houses had to work harder to get the best examples they could find by today’s most popular artists. The problem is that few major estates have come up for sale, and that most collectors are reluctant to part with their prized artwork, fearing that the world’s financial markets are far more unstable than the value of the art on their walls.

“It was a challenge from start to finish,” said Conor Jordan, head of Christie’s Impressionist and modern art department in New York. “A-plus material is in small supply, but if something is of good quality and correctly priced, there is no shortage of buyers.”

Of course, Vogel was juxtaposing the Brody Picasso from last year with the Impressionist and Modern sales of next week where few would expect to see another $100-million price.

Art for Sale, No Introduction Needed (New York Times)

 

More from Art Market Monitor

  • Art Cologne Comes ThroughArt Cologne Comes Through
  • £3m Round-Tripping Rubens Portrait at Christie’s£3m Round-Tripping Rubens Portrait at Christie’s
  • Sales and Resales in Contemporary ArtSales and Resales in Contemporary Art
  • Native SpeakerNative Speaker
  • Artelligence Podcast: Crozier Fine Art’s Simon HornbyArtelligence Podcast: Crozier Fine Art’s Simon Hornby
  • David Bowie Sale = £24.3mDavid Bowie Sale = £24.3m

Filed Under: Collectors

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor