No longer does museum validation or scholarly attention determine a painting’s value. Now, the collectors’ hunger comes first, and institutions must follow.
Eleven auction records for artists — six by women — were smashed on Thursday night in two sales at Sotheby’s.
The painting is poised to wrest the auction high for an American artwork from Jean-Michel Basquiat.
Auction houses like Sotheby’s and Christie’s will no longer need to be licensed as part of a sweeping package designed to promote a business-friendly climate.
The exhibition at the Starrett-Lehigh building in Chelsea features more than 200 artworks and artifacts from the collection of the artist’s estate, most of which have never been seen.
With charitable donations and public statements in support of Ukraine, Phillips auction house is trying to deflect those pushing for a boycott of the business, owned by two wealthy Russians.
“L’empire des lumières” (1961), one of a series by the Surrealist, was auctioned during a bustling London art week.
When demand outstrips supply, there is huge money to be made by “flipping”— the practice of buying low from the artist’s gallery and reselling high at auction.
How do you go about buying online? Should a piece be signed? And what’s good value right now?
Prices for works by some relatively new artists have skyrocketed, seemingly overnight.
In response to Covid-19, Sotheby’s, Christie’s and Phillips are stepping up digital selling, but the prices don’t yet come close to those in the auction room.