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Art Market

2023 Was a Year Through the Art Market Looking Glass

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Source: Artnews

The year began on a crisp day, with 100 percent visibility. At least that’s how it seemed at the time. Christie’s was still soaring from the 2022 November evening sales, when the Paul Allen collection took in $1.5 billion. If that sales season was any indication, the market was flush and frothy. ART SG, the Singapore-based art fair, finally launched its inaugural edition in January (with a little help from Art Basel parent company, MCH Group), and Patti Wong’s new advisory in the region signaled that Asia was the art market’s next home base.

The world’s outlook, and the art market’s, did not remain so rosy.

At the beginning of March, sales tax hikes in the European Union caused a stir among artists and dealers. By April, recession—a supposed consequence of the end of low interest rates and cheap money—was being bandied about in every financial sector. Still, the worlds of finance and art cozied up to each other more than ever. Meanwhile, a report from the art sector recruitment firm Sophie Macpherson Ltd. revealed that sales directors at some commercial US galleries made more than $400,000 a year, and that gallery giants were gobbling up artists as if they were turkeys at Thanksgiving.

Read more: https://www.artnews.com/art-news/market/2023-in-review-the-art-market-1234691289/

Art Market

Saturday Art Market opens May 25 at Big Ole Park

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Source: Echo Press

The Saturday Art Market is an exciting opportunity for locals and visitors to gather at Big Ole Park on the north end of Broadway in Alexandria every Saturday this summer.

Attendees will be able to visit with local artists and shop their offerings. Coffee and food items will be available near the market and there will be live music every weekend.

The Art Market, which is held next to Alexandria’s Farmer’s Market, runs every Saturday from 9 a.m. to 1:30 p.m., May 25 through Aug. 31. Music will run from 9:30 a.m.-12:30 p.m. each Saturday.

Read more: https://www.echopress.com/news/saturday-art-market-opens-may-25-at-big-ole-park

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Art Market

Art Market Seeks Its Footing After Stumbling Sales and a Hack at Christie’s

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Source: The New York Times

Estimates are still soaring past the $20 million mark and canvases still bear the signatures of dependable ringers like Warhol, Basquiat and Picasso. But there is a shadow looming over the spring auction season that begins Monday.

A cyberattack at Christie’s brought down the company’s website on Thursday, and as of Sunday morning, Christie’s had not yet regained control of it. On Sunday evening, in his first public statement since the cyberattack, Guillaume Cerutti, the chief executive of Christie’s, confirmed that eight auctions would proceed as scheduled, with bidding in person and by phone (the rare watches sale has been postponed until May 14). A place-holder website was set up allowing access to the digital catalogs, but did not allow online bidding. With the site down and questions still unanswered about the fate of confidential data, analysts are uncertain about the impact on buyers and sellers.

Read more: https://www.nytimes.com/2024/05/12/arts/design/will-auctions-revive-art-market.html

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Art Market

Art Market Seeks Its Footing After Stumbling Sales and a Hack at Christie’s

Published

on

Source: The Newyork Times

Estimates are still soaring past the $20 million mark and canvases still bear the signatures of dependable ringers like Warhol, Basquiat and Picasso. But there is a shadow looming over the spring auction season that begins Monday.

A cyberattack at Christie’s brought down the company’s website on Thursday, and as of Sunday morning, Christie’s had not yet regained control of it. On Sunday evening, in his first public statement since the cyberattack, Guillaume Cerutti, the chief executive of Christie’s, confirmed that eight auctions would proceed as scheduled, with bidding in person and by phone (the rare watches sale has been postponed until May 14). A place-holder website was set up allowing access to the digital catalogs, but did not allow online bidding. With the site down and questions still unanswered about the fate of confidential data, analysts are uncertain about the impact on buyers and sellers.

Read more: https://www.nytimes.com/2024/05/12/arts/design/will-auctions-revive-art-market.html

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