Art Market Monitor

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The Irish Still Like Their Art

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The Irish Independent reports a pretty strong sale for Irish art in Dublin:

Although the organisers of the Irish art sale at Whyte‘s had initially hoped for a total take near the €3m mark, early estimates indicated that about €1.5m worth of art was sold last night, with buyers picking up about three-quarters of the 170 lots on offer.

While other art markets are struggling with sales that must readjust expectations in the midst of a credit crisis, Ireland’s artists like Sean Scully (above, left) are holding on to their value.

Here are the results from Whyte’s and the story:

Auction paints a poor picture for art market in tough times (The Independent)

Great Scott

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The Economist charts the growth of William Scott’s auction market

The Economist focuses on William Scott as the sales of British pictures approaches later this week. Scott’s work has been gaining momentum:

Highly sought after by private collectors on both sides of the Atlantic, Scott’s best work has increased considerably in price over the last four years. Newly rich Irish buyers have helped. In 1996 a late nude entitled “Figure” came up for auction with an estimate of £25,000-35,000. It failed to sell. Last year Christie’s put the picture up for sale again, this time with an estimate of £50,000-80,000. It made £176,000.Continue Reading

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