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October 12, 2008 10:49:25 AM CDT

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Stories related to: art market

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  • September 2008

    • Hirst Auction Yields $199M

      Forbes  |  Sep 17, 08 4:50 PM CDT

      Hirst Auction Yields $199M

      (Newser) - Damien Hirst sold 223 pieces of artwork for $199 million by the end of a two-day auction yesterday, shattering the record for most revenue in an auction of a single artist’s work, Forbes reports. The previous mark was held by Pablo Picasso, with 88 sold for $20 million in 1993. Hirst himself set a target of $116 million. More »

      Tags

      credit crisis  • art market  • art auction  • Damien Hirst  • sales  • Pablo Picasso

    • As Stocks Slide, Hirst Auction Breaks Records

      New York Times  |  Sep 16, 08 8:18 AM CDT

      As Stocks Slide, Hirst Auction Breaks Records

      (Newser) - Damien Hirst won the biggest gamble of his career at Sotheby's last night—as lot after lot of the artist's work beat high estimates, totaling $127.2 million in sales. While the markets tumbled in New York, bidders in the London saleroom bought up dozens of brand-new Hirsts, from taxidermied animals to abstract paintings, in an auction that could have far-reaching implications for the art world. More »

      Tags

      London  • art  • art market  • Sotheby's  • art auction  • Damien Hirst

  • July 2008

    • Cruise Ship Art Dealer Faces Class Action

      New York Times  |  Jul 16, 08 6:07 AM CDT

      Cruise Ship Art Dealer Faces Class Action

      (Newser) - Park West Gallery in Southfield, Mich., claims to be "the world's largest art dealer," flogging more works than the major auction houses through its sales on half a dozen cruise lines. But while the onboard auctions promise "good investments," the New York Times reports that Park West is selling works at tremendously inflated prices. Now the gallery is facing a class-action lawsuit by disgruntled collectors. More »

      Tags

      lawsuit  • fraud  • art market  • cruise ships  • appraisals  • cruise lines

    • Masters Shore Up Shaky Art Market

      Wall Street Journal  |  Jul 3, 08 9:48 AM CDT

      Masters Shore Up Shaky Art Market

      (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 Wall Street Journal . While new collectors from Russia and the Middle East are paying top dollar for works by established modern masters, younger artists went bust. More »

      Tags

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

  • June 2008

    • Art Basel: Brisk Sales, but No Frenzy

      New York Times  |  Jun 5, 08 9:55 AM CDT

      Art Basel: Brisk Sales, but No Frenzy

      (Newser) - Art Basel, the world's most prestigious (and most expensive) art fair, opened Tuesday in Switzerland amid grumbles that works for sale were of middling quality and overpriced. "Now there are just too many art fairs," said a director of PaceWildenstein, one of New York's biggest galleries. As the New York Times writes, this year's Art Basel is loaded with well-known names at the expense of new discoveries. More »

      Tags

      art  • Switzerland  • art market  • Art Basel

  • May 2008

    • Bacon Breaks Record as Art Market Sizzles

      Reuters  |  May 15, 08 3:30 AM CDT

      Bacon Breaks Record as Art Market Sizzles

      (Newser) - A 1976 triptych painting by Francis Bacon became the most expensive piece of contemporary art ever sold when it went for $86.2 million at auction last night, Reuters reports. Seventeen other artists also set records at the sale, boosting Sotheby's to the best night in its 300-year history and quashing predictions that the economic slowdown would douse the red-hot market for postwar art. More »

      Tags

      art  • painting  • art market  • Sotheby's  • art auction  • Robert Rauschenberg  • Francis Bacon

    • Art Continues to Buck Ragged Economy

      New York Times  |  May 14, 08 2:21 PM CDT

      Art Continues to Buck Ragged Economy

      (Newser) - Christie's auction of contemporary art in New York belied an economic downturn, the Times reports, with paintings, sculpture, and even a house fetching handsome prices. Two works drew particular attention: a portrait of a 280-pound nude woman by Lucian Freud, which sold for $33.6 million, and a house in Palm Springs by Richard Neutra, which fetched $16.8 million. More »

      Tags

      art  • art market  • art auction  • Christie's  • Mark Rothko  • Lucian Freud

    • Art Auction Houses Predict 25% Bump

      Financial Times (UK)  |  May 5, 08 9:30 AM CDT

      Art Auction Houses Predict 25% Bump

      (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 »

      Tags

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

  • April 2008

    • Spring Art Auctions Surrounded by Crash Talk

      Slate  |  Apr 29, 08 10:25 AM CDT

      Spring Art Auctions Surrounded by Crash Talk

      (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 »

      Tags

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

    • Not a Great Time to Be an Artist

      Portfolio  |  Apr 3, 08 5:50 PM CDT

      Not a Great Time to Be an Artist

      (Newser) - The exploding art market may be about to deflate: New York’s flurry of contemporary art fairs last week had surprisingly good sales in light of the economic times, reports Portfolio , but the president of one of the nation’s most active lenders against art predicts a sharp downturn from last year’s incredible $12 billion sales—and a "flight to quality" that could leave emerging artists in the cold.  More »

      Tags

      recession  • art  • art market  • art auction  • art collector  • contemporary art

  • March 2008

    • Art Funds Looking Far East

      Bloomberg  |  Mar 20, 08 11:54 AM CDT

      Art Funds Looking Far East

      (Newser) - With major economies slowing and the US dollar near historic lows, art investment funds are looking to move away from the slowing Western art market, Bloomberg reports. Funds are sinking millions into works from China, India, and the Middle East. One leading fund has met its target for contemporary Chinese art and is aiming to expand into older works. More »

      Tags

      art  • hedge fund  • art market  • investment  • Christie's  • Fine art market

    • Getty Lands a Morbid Gauguin

      Los Angeles Times  |  Mar 12, 08 2:53 PM CDT

      Getty Lands a Morbid Gauguin

      (Newser) - The J. Paul Getty Museum has acquired an 1892 work by Paul Gauguin the Los Angeles institution's curator calls "the most famous painting by Gauguin that no one has seen," the Los Angeles Times reports. Arii Matamoe (The Royal End) —bought from a Swiss collector for an undisclosed sum—is one of the painter's most morbid Tahitian paintings, depicting a severed head on a pillow. More »

      Tags

      Los Angeles  • art  • art market  • J. Paul Getty Museum  • Paul Gauguin

  • February 2008
  • December 2007

    • Gauguin Sculpture a Fake

      Associated Press  |  Dec 12, 07 12:03 PM CST

      Gauguin Sculpture a Fake

      (Newser) - After a decade on display at the Art Institute of Chicago, a ceramic figure allegedly sculpted by Paul Gauguin was revealed yesterday to be a fake. The museum discovered 'The Faun,' a half-man, half-goat figure, to be the work not of the 19th century French artist, but of a British family notorious for producing art forgeries, the AP reports. More »

      Tags

      Great Britain  • Chicago