Art Market Monitor

Global Coverage ~ Unique Analysis

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

Art Advisors Opine on May Sales: It’s a Buyer’s Market

May 5, 2016 by Marion Maneker

Katya Kazakina spoke to a few of the top art advisors to get their take on the market on the eve of next week’s sales:

  • “Last year at this time, you had competition coming from nearly every part of the world,” said Sandy Heller, a New York art consultant. “You don’t really have that right now. So I consider now a great time to be a buyer. You can likely come away with some pretty good deals.”
  • “It’s a contraction in every sense,” said Todd Levin, director of Levin Art Group, who advises collectors. “There’s a wait and see approach. No one wants to catch a falling knife.”
  • “There’s less risk and therefore fewer masterpieces,” said Wendy Cromwell, an art adviser in New York. “You are seeing the fallout from the course of business that was unsustainable. It was extraordinarily expensive for the auction houses to maintain the facade of those big sales and watch the profit erode.”

Ganek’s Mini Hitler, Basquiat’s Devil Star in Trimmer Auctions (Bloomberg)

More from Art Market Monitor

  • Old Master RollercoasterOld Master Rollercoaster
  • How Gagosian Sells, A Case StudyHow Gagosian Sells, A Case Study
  • Catching Up on the Monet MarketCatching Up on the Monet Market
  • Art Market Is Sustainable As Long As Ranks of Ultra High Net Worth Individuals GrowsArt Market Is Sustainable As Long As Ranks of Ultra High Net Worth Individuals Grows
  • Calder by the PoolCalder by the Pool
  • Damien MurakoonsDamien Murakoons

Filed Under: General

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