Most HNWIs (High Net Worth Individuals) live in the United States, Japan, and Germany, and account for a 53% share of the global art market!
Join us at the TEFAF Maastricht Art Symposium to learn more about what influences and motivates them when they buy art.
Art Market Concerns
Art sales in New York, at galleries or at auction, are estimated at US$8 billion a year. Is there any reason to believe that regulating the art market will be any more effective than regulating the financial markets has been?
Find out more in this New York Times report.
Seven Days In The Art World
Some recommended reading:
Sarah Thornton, writer for The Economist, attracted a lot of attention recently when she published a list of her top 10 reasons for quitting the art market, citing its crooked and repetitive tendencies.
In her book, Seven Days In The Art World, Thornton investigates everything from the drama of a Christie’s auction to the workings in Takashi Murakami’s studios, the elite at the Basel Art Fair, the eccentricities of Artforum magazine, and life in a notorious art school seminar.
Art Market Watch
Recent articles in Artnet Magazine about art market expectations have garnered huge reaction from reporters at Hyperallergic, Gallerist NY, the Winkleman blog, and a number of dealers and collectors, so we thought it might be pertinent to break down the situation of a hypothetical power collector couple.
Read our break down of the situation.
The Art Market Crash
The problem with buying Fine Art is that, unlike short selling on the regular market, you cannot really make money by betting that the value of Fine Art will fall in the future.
Find out how to survive the coming art market crash in artnet Magazine.
Art and Money; Money and Art
According to author Martha Buskirk of Creative Enterprise: Contemporary Art between Museum and Marketplace, art has always been a “bauble of the rich, enmeshed in a larger luxury trade and functioning as a marker of status,” now more so than ever before.
Will The Art Market Crash?
This week’s perfect storm of bad worldwide economic news makes one wonder: can the high end art market continue its contrarian record sales indefinitely?
Spring Sales of Latin American Art
For Latin American art auctions in New York, the score was Phillips de Pury (US$3.5 million), Christie’s (US$27.7 million), and Sotheby’s (US$26.8 million).
Speed! Money And The Global Art Market
Speed is a synonym for velocity and the slang term for amphetamine, a drug creating an ecstatic illusion of rapidity and efficacy.
Money, which plays an increasingly important role in the dynamics of the global art market, has a similar effect. Money dynamizes and accelerates the art market—not just temporarily but structurally.
Zhang Xianming’s Lin Daiyu
Last fall, artnet Auctions set major new international records at auction for the stunning Realist oil paintings by artist Zhang Xianming, and there has been a wait list for works by this Chinese Contemporary artist ever since.
Now Zhang’s 2012 masterpiece, Lin Daiyu—which is estimated at US$12,000–US$18,000—is only available for purchase on artnet Auctions until next Thursday, May 31.
Comparing Latin-American Artists
Since Latin-American Art is being auctioned everywhere this week, we used our analytics tool to compare three of the most important featured artists: Fernando Botero, Carlos Cruz-Diez, and Jesús Rafael Soto.
Who’s work do you want to invest in?
The Future Of The Art Market
Although the art market has outperformed other markets for the last 15 years, do we need to proceed carefully?
Understanding the Art Market
Thomas Galbraith, director of analytics at artnet, discusses with The Street the art market, what The Scream famously achieved, whether a crash is coming, and how the new artnet Indices and artnet Analytics Reports makes sense of it all.
The Art Market Crash
Souren Melikian of the International Herald Tribune is predicting, in the wake of this month’s record auction numbers in New York, a coming crash in the Fine Art auction market similar to the famous Japanese real estate bubble of 1989.
Art Market: Sotheby’s does $266.6 Mil
The art market fell back to earth, or at least back to the upper stratosphere, with the evening auction of Contemporary Art at Sotheby’s New York last night.