Archive for the Art Market Tag

Thoughts on the Art Economy

The more we’ve been thinking about the current state of the art market, the more we’re growing tired of it. Now that the economy is providing a much-needed shakedown in the art world, VoCA says it’s time to re-think where the value of art stems from. Value doesn’t come from some clever young art school grad who comes up with
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How to tell the true value of a work of art? From the Art Newspaper

Dealer Angela Westwater offers her thoughts at Art Basel Miami Beach. From a recent issue of the Art Newspaper: “The art market is only part of the art world. The turmoil in the global economy distracts us from where the true value of art really resides – its sustaining benefits as spiritual sustenancy and cultural legacy.” – Angela Westwater, Sperone
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Ritchie’s/Sotheby’s Auction Preview: Important Canadian Art

We attended the auction preview last night at Ritchie’s, in association with Sotheby’s, as guests of Sotheby’s Real Estate. The auction preview rooms – the sale will take place on Monday at 10:30 am – were filled cheek by jowl with major Canadian names including several works by Jean-Paul Riopelle, many by the Group of Seven including a tiny, perfectly
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The End of the Art Boom? Christie’s and Sotheby’s Report Losses

Sombre sales at Sotheby’s and Christie’s mark end of art boom, says the FT. “However, (Sotheby’s) managed to sell its star piece, an abstract work by Kazimir Malevich, for $53m – $60m after the buyers’ premium – after securing an irrevocable bid for the work. It had estimated it would sell for about $60m…” Kazimir Malevich, Suprematist composition (blue rectangle
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Is Art a Wise Investment?

Art and Investing seminar November 19th, 2008 Angell Gallery, Toronto With guest speakers: Andrea Carson – Art consultant, critic & publisher of online art resource View on Canadian Art Jeremy Tabarrok – wealth advisor, ScotiaMcLeod Jamie Angell – gallerist, Angell Gallery This seminar is designed to answer questions about buying art, refining and working with your collection, and assessing its
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Art Market: Auction Sales Suffer

“Things have been overpriced; they need to come down,” said Glenn Scott-Wright, director at London’s Victoria Miro gallery, who attended the sale. “If Christie’s had dropped the reserves by 20 percent, it would have done better.” Read the full story from Bloomberg HERE “Concetto spaziale, La fine di Dio” by Lucio Fontana, an oil and glitter on canvas work executed
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Headlines From Around the World Art Market

Since Damien Hirst made a killing in his Sotheby’s sale on the day that the US market dropped, there has been almost universal puzzlement over the future of the contemporary art market. Below are some conflicting headlines about the art market from the past few days – demonstrating that no one really knows what’s going on. Image: boston.com The Art
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Quebec: Commercial Galleries and Auction Houses collaborate

Following the trend of commercial galleries collaborating with the auction houses (lest the auction houses overtake them – see VoCA posts HERE and HERE ), in Montreal, the Contemporary Art Galleries Association (AGAC) is going to be organizing an exhibition between its members and Ritchies Auction House. Massimo Guerrera, Au coeur du sujet, 2003-2006. Mixed media on paper mounted on
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The Art Market: Are Dealers Overtaking Public Galleries?

We read, in the Art Newspaper (right HERE), that the Richard Prince works currently on view at London’s public Serpentine Gallery are for sale. Richard Prince, “Untitled,” 1983. Image: zine.artcal.net According to the article, this raises “questions about the relationship between publicly-funded galleries and their sponsors.” Actually, since the Serpentine is not involved in any sales from the show, it
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VoCA Recommends…The $12 Million Stuffed Shark

Toronto writer Don Thompson’s book The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art subjects today’s global art world to an economic analysis. Image: akademika.no Thompson, an economist and professor of business who regularly lectures on art, attempts to de-mystify the value of contemporary art – why such exorbitant prices (nearing $150 million) are paid for works which
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