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At Arco Lisboa, discussions seemed to revolve mainly around value added tax, according to Christof Habres at Parnass: "In an “absolutely destructive move” (Ilan Karpio, sales director at the Pedro Cera gallery), the Portuguese government has increased the tax rate on works of art to 23 per cent. This is a move that could well nip in the bud the ... read more
Artnet, the most well-known art market portal, is being acquired by a British investor, according tomy news for Artmagazine. Going a step further than the buyer himself, former major shareholder Rüdiger K. Weng provides information about the possible future of Artnet and Artsy in an article by Georgina Adam for The Art Newspaper: ‘Weng said ... read more
Art Basel is launching a new fair in Qatar, it announced in a press release. In an interview with SRF, Monopol editor-in-chief Elke Buhr explains why she believes the expansion is necessary: "It's about maintaining and stabilising the overall business. Art Basel is an international company that competes with other art fairs – for example, ... read more
Susanne Schreiber, former editor of the art market section of Handelsblatt, is now publisher of WELTKUNST Insider (free for 60 days). In the first issue under her leadership, she reads between the lines of New York auction catalogues: ‘A striking number of lots offered at Sotheby's between 13 and 15 May are estimated at between 1 and 10 million dollars. ... read more
Of the ‘strong sales’ promised in the headline, little remains in the trade fair report by Daniel Cassady and Karen K. Ho of Frieze New York for Artnews, apart from the usual reports of deals made by the major galleries: "But there's more in the air than just talk about the market. The aisles buzzed with conversations about the financial ... read more
Laura Helena Wurth's tour of Gallery Weekend Berlin for the FAZ is a mixed bag (link via MSN): ‘Although sales on the international art market slumped by twelve percent last year according to the ‘Art Basel & UBS Art Market Report’, the mid-price segment is one of the stable areas of the trade. The mood in Berlin's galleries is correspondingly ... read more