Bloomberg previews the sales and fairs surrounding Frieze in London this October. The focus is on Bonhams new Contemporary art department and their big, record-seeking Boetti that will be on offer. But in the process of pitching his star lot, Bonhams’s new Contemporary art head suggests there’s a danger of the door shutting on art if financial markets swoon:
“Sellers are telling themselves, I might as well do it now,” said Anthony McNerney, a former Phillips de Pury & Co. specialist who now heads Bonhams’s new seven-strong contemporary-art team in London. “If there’s a dip like there was in 2008, it will dry up. Owners know that if they have a great work, there are still wealthy people willing to buy it, almost whatever the price.”
Saatchi, Bonhams Boost Contemporary-Art Market Confidence Amid Price Fears (Bloomberg)
