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Normal fair business was overshadowed in the second half of the year by the dominant corporations, which made headlines primarily with their expansion into the Arab world. The current art fair model does not seem sustainable to many market participants, according to a survey of gallery owners summarised by Karen K. Ho in mid-Augustfor Artnews: "First Thursday, a London-based sales ... read more
Closures, insolvencies and downsizing of galleries and art dealers also characterised the second half of the year. The market appears to be in a phase of consolidation with structural imbalances. Keith Estiler talks in mid-August about the ‘creeping death of the contemporary art gallery’ at Hypebeast: "A significant force behind this change is the shifting demand for different types of ... read more
According to Julia Stellmann's comments in the FAZ (paywall), Art Antwerp is becoming both more regional and more international: "In 2021, international exhibitors were eager to participate in the few events that were held due to the empty exhibition calendar caused by the pandemic. However, sales remained poor for many galleries, including those from Germany, so that the fair lost ... read more
A well-rounded affair. After art auctions in New York broke numerous records this season, Christie's in London has now sold a well-known Fabergé egg for £22.9 million including buyer's premium, as Andy Battaglia reports in Artnews. Richard Whiddington recounts the history of the egg at Artnet. Cologne-based art insurance broker Stephan Zilkens assesses the result ... read more
In his detailed analysis of the New York auction week, Zachary Small identifies several trends for the New York Times: "But with some business strategy and a little luck, auction houses sold £2.2 billion worth of art last week. Overall, the major auctions in New York in November achieved a 77 per cent increase over the corresponding sales last year ... read more
There hasn't been such good news from the auction market for quite some time. Art worth around two billion dollars changed hands at last week's autumn auctions in New York. Elisa Carollo reports on Sotheby's for the Observer, Zachary Small and Julia Halperin for the New York Times (paywall may apply) and Sarah Douglas for ... read more