Armory Week

Armory Week Sales Show Strong Contemporary ‘Middle Market’ Market at Work

March 13, 2017 by Marion Maneker

9622 Cecily Brown, Bonus

This analysis of sales results—including a list of the most sought after lots and a look at the internal dynamics of the ‘middle market’—is available to AMMpro subscribers. Subscribers get the first month free on monthly subscriptions. Feel free to cancel at any time before the month is up. Sign up for AMMpro here.

Cecily Brown’s 2004 painting Bonus sold from the collection of Ed Cohen and Victoria Shaw at Sotheby’s was one of the top lots of the Armory Week sales in New York. The painting sold for twice the high estimate which, along with works by Gerhard Richter, and Brice Marden, helped the collection make $7.2m at Sotheby’s. Across town, Christie’s middle market contemporary art sale was also boosted by $2m because of the addition of the Earl McGrath collection.

Altogether, this year’s round of auctions accompanying Armory Week and its art fairs were up 15.6% on the previous year’s sales totals. That’s not as big a leap as what took place in London over the last two weeks. Considering the price-points and consistent volumes in the Contemporary middle market, though, the jump is significant and worth exploring at greater length.

The results shown below indicate a Contemporary art market that may be deeper and stronger than many suspect. Sotheby’s ability to sell the majority of the lots in their sale above the high pre-sale estimate is only one of the important indicators.Continue Reading

Armory Show Sales Report

March 6, 2017 by Marion Maneker

A post shared by 💎💎💎💎💎 (@tiffwc_) on Mar 6, 2017 at 6:59am PST

Our running tally of sales reported during Armory Week is available to AMMpro subscribers.

Katya Kazakina had some bold statements from the Armory Show’s director:

A prominent European dealer bought two works for about $3 million from fellow exhibitors during the setup and at least two booths sold out before the fair opened, according to executive director Ben Genocchio.

“Compared to last year, the sales are two-to-three times stronger,” he said. “An enormous amount of business is done before the doors are open.”

If the gallery has sold the contents of its booth to its own client base before the fair opens, one has to wonder if the fair itself is integral to the gallery’s own program.

Vernissage TV: Independent Art Fair

March 16, 2011 by Marion Maneker

The second edition of Independent takes place in the former DIA Center for the Arts. Over 40 contemporary art galleries are participating in the fair, mainly from New York, Paris, Berlin, London, and Los Angeles. Independent was conceived by Elizabeth Dee (Elizabeth Dee Gallery, New York) and Darren Flook (Hotel Gallery, London). The 2011 edition of Independent was developed in conjunction with creative advisor Matthew Higgs (White Columns, New York) and co-directors Jayne Drost and Laura Mitterand.

Armory: All in a Week's Work

March 7, 2011 by Elena Soboleva

Upwards of fifteen art fairs occupyied the city with Armory Art Week. With so much art on offer and Wall Streeters freshly flush with another year’s bounty, the Art Newspaper made “Bonus time for art business?” its headline of their daily art fair issue. But that would make the Armory show seem like an endless lark timed only to cash in on the global recovery party.

It is not all fun and frolic for those participating in the show. Armory Week is the culmination of months of preparation; shipping, packing, crating, printing and pre-selling. However, when offered an excuse to indulge in a glass of champagne, who wouldn’t want to indulge? And, thankfully, the week has been full of opportunities to do so.

On Monday Art+Auction alongside Lehmann Maupin Gallery held a dinner at Bottino (the unofficial Chelsea cafeteria) where publishers, dealers and Armory and ArtBasel execs mingled. The Art Dealers Association of America (ADAA) opened its 23rd edition of The Art Show on Tuesday in a benefit evening for the Henry Street Settlement. The show was marked by its stress on quality and the bankable names on the artist labels. The selection was not unlike a good auction house sale.Continue Reading