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Art Market

With More Available Data, Is the Art Market Becoming More Opaque?

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Source: Observer

While there are more longstanding art market data providers available to followers of the market, ironically, in our view, the digitization of auction information and the financialization of the most expensive works of art (trophy lots) may be making understanding the art market more complex over time.  Understanding and quantifying demand for individual artworks, artists, genres and in the overall market seems to be increasingly challenging.

We have found that auction houses (and other select parties) are contributing to this complexity but also uniquely capable of navigating it.  As a result, it can be hard to keep up for those seeking even a simple understanding of the art market, let alone those looking to quantify the intangibles that affect it.  The following intends to demystify some of the quirks and anomalies of fine art auction results for more would-be participants.

Read more: https://observer.com/2024/01/data-art-market-auction-sales-digitization/

Art Market

Best art lawyers 2024

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Source: Spear's

The art market is exciting, dynamic and lucrative, but it can also be difficult to navigate. That is why the advice of a leading art lawyer is essential for any high-net-worth individual hoping to expand their collection, or dip their toe into the alluring art world.

Buying and selling art, something which can be difficult to value, authenticate and obtain, comes with a number of legal requirements and obligations, from the initial deal to the transportation.

Read more: https://spearswms.com/law/best-art-lawyers-high-net-worth-individuals/

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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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