Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Masters Shore Up Shaky Art Market

Auctions break records, but living artists' work suffers

By Jason Farago, Newser Staff

Posted Jul 3, 2008 9:48 AM CDT

(Newser) – The art market has again defied the economic downturn, with Christie's and Sotheby's bringing in more than $1 billion combined during the past two weeks' London sales—a 19% rise from last year. But those numbers disguise the erratic nature of the market, writes the... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Wall Street Journal (Source Grid »)

art market • art • Sotheby's • Christie's • art auction

More Newser Stories

Strapped Art Market Preps for Auctions

Expectations low as auction houses try variety of tactics

(NEWSER) - After a 7-year boom, art auction houses are struggling as collectors hit hard by the recession close their wallets. Sotheby’s predicts it will pull in $179 million to $256 million at spring sales, compared to $742 million a year ago. As the spring events approach, auctioneers are employing an array of strategies to restore the market, the Wall Street Journal reports. More»

Christie's Cuts Jobs as Art Sales Slump

250-year-old auction house downsizes to stay afloat

(NEWSER) - Following months of bad results in America and Europe, Christie's is reorganizing to cut costs, including "significant staff reductions," the auction house said yesterday. While at the start of 2008 the art world seemed immune to the economic downturn, the decade-long boom in art prices busted this fall. At a recent sale in New York, nearly a third of the pieces on the block went unsold. More»

Art Auction Houses Predict 25% Bump

Sotheby's and Christie's prepare for booming auction season—they hope

(NEWSER) - The New York art auction season begins today, and Sotheby’s and Christie’s say they believe the art market’s 5-year boom will continue, forecasting $1.8 billion in sales, reports the Financial Times. The prediction of a 25% boost over last year flies in the face of financial-market lassitude and nervousness among collectors and dealers. Prices jumped 18% in 2007. More»

Spring Art Auctions Surrounded by Crash Talk

Writers keep predicting implosion, but it might never come

(NEWSER) - It's auction season again in the art world, and Sotheby's and Christie's have put record estimates on dozens of paintings. Despite warnings in the media of an imminent crash, prices of fine art seem to be impervious to the global economic downturn. It's enough to make one writer at Slate wonder: Are observers of the art market rooting for a collapse? More»

Matisse Pulls Impressive $33.6M

Art world breathes easier after first night of stellar sales

(NEWSER) - A nervous New York art world breathed a sigh of relief on the first night of the fall auctions yesterday when a Matisse painting fetched a whopping $33.6 million, far above its high estimate. Collectors and dealers are watching November's sales at Sotheby's and Christie's with anxiety, reports the New York Times, but Christie's modern and impressionist sale broke several records, hitting new highs for Matisse, Cézanne, Signac and Pissarro. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Masters Shore Up Shaky Art Market

Auctions break records, but living artists' work suffers

art market • art • Sotheby's • Christie's • art auction

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Strapped Art Market Preps for Auctions

Expectations low as auction houses try variety of tactics

Christie's Cuts Jobs as Art Sales Slump

250-year-old auction house downsizes to stay afloat

Art Auction Houses Predict 25% Bump

Sotheby's and Christie's prepare for booming auction season—they hope

Spring Art Auctions Surrounded by Crash Talk

Writers keep predicting implosion, but it might never come

Matisse Pulls Impressive $33.6M

Art world breathes easier after first night of stellar sales

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?