New Fees at Sotheby's too; Dean Valentine talks to the Times; Dallas Art Fair opens flexi-space; Swizz Beatz is a some sort of saint; What your business manager hears when you talk about buying art.This commentary by Marion Maneker is available to AMMpro subscribers. (The first month of AMMpro is free and subscribers are welcome to sign up for the first month and cancel before they are billed.)
New Fees Coming for Sotheby’s Next WeekThere will be changes to the Buyer’s Premium starting February 25th at Sotheby’s too. The full rate card is here but the news is:
- the 25% BP tier applies under $400,000 for sales in New York, £300,000 in London, €250,000 in Paris, €250,000 in Milan, CHF400,000 in Switzerland, and HK$3,500,000 in Hong Kong
- above that level the BP will be 20% until $4m/£3m
- Over $4m/£3m, the BP will rise from 12.9% to 13.9%. That change applies to New York, London, Paris, Switzerland and Hong Kong, and for Milan where VAT also applies.
Valentine’s Day in the SunThe New York Times does its “Show Us Your Walls” thing with Dean Valentine but the striking takeaway is this brief quote from the collector that makes you wonder if this isn’t the real difference between the art world of late 20th Century and the fair-driven business of today:
- “I learned a lot of what I know about art from hanging out with dealers in the mid-90s and asking them, ‘Why is this any good?’” said Mr. Valentine, the former president of Walt Disney Television and the former chief executive officer of UPN.
Sign up to Art Market Monitor Premium today
You need a membership to AMMpro to view this article and other exclusive content daily.
You can register today for $90 per month—with your first month free!—or for $756 per year (no free trial period.)
If you already have an account, sign in here: