According to Katya Kazakina on Bloomberg, Christie’s pared down 54-lot Impressionist & Modern Evening sale for next month is aimed at the Asian market with big names and big prices (the estimate range for the whole sale is $245-360m) for Picasso (25% of the lots), Monet, Kandinsky and Renoir.
“It’s a low volume, high value sale,” said Brooke Lampley, head of Impressionist and modern art at Christie’s New York, in a telephone interview. “We have a remarkable selection of works by the most commercial artists.” […]
To court Chinese buyers, Christie’s will tour the highlights, including the top Monet as well as pieces by Picasso, Pierre-Auguste Renoir and Salvador Dali, in Hong Kong this week.
“That’s a trend we expect to continue and the one we are trying to foster with emphasis on Picasso and Monet,” Lampley said.
If Asian buyers are increasingly important to the Impressionist and Modern market, will that decrease the relative value of works being “fresh to market?” In other words, will new collectors care whether a work has traded hands in recent years if it gives them the opportunity to own the work?