The principle three auction houses in London all held their major sales in Modern British Art last week. Although the auctions only represent one aspect of this thriving market it is still useful to analyse their results to take stock of general trends and collecting habits.
The most important single owner sale ever to hit the auction block comes up next week at Christies New York. The world-renowned collection of Peggy and David Rockefeller has a number of major masterpieces worthy of the best museums, and many other very high-quality works for which top collectors will compete.
There have never been more opportunities to buy fine art and be well informed, given the extraordinary range of art fairs, auctions, dealers and galleries - all accessible in person and online, as well as the increasingly informative online art platforms. What to choose is the problem.
Global auction sales provide a barometer for how the art market is performing. During 2017 we experienced a rise in world auction sales, following a steep decline during 2016, when the US and UK auction sales markets dropped in terms of sales. Much of this drop in sales revenue during 2016, as recorded by a fall in volume, can be attributed to a shift in sales to the dealer market.
Ray Waterhouse, Chairman of Fine Art Brokers, and Judd Tully, seasoned writer on the art market and Editor-at-Large for Art + Auction magazine, present a private talk on starting and building an art collection, hosted at a magnificent penthouse in downtown New York.
Fine Art Brokers introduces Sotheby's and Christie's Impressionist & Modern evening sales, New York, 2016.
Bowie’s collection is as eclectic as its creator's musical output, a reflection of his modus operandi whereby he sought to ‘collect ideas’ above any fixed group or theme, although his core interest was clearly mid-century British Art.
Last Wednesday, October 26th saw the first fair run by The European Fine Art Foundation (TEFAF) come to an end in New York, after a five day run. The reaction from visitors and exhibitors was very positive.
Fine Art Brokers is pleased to be represented at the 51st Annual Heckerling Institute on Estate Planning. Considered the largest national conference of its kind, the annual event will take place in Orlando from January 9-13th, 2017.
The first part of an occasional guide, both informative and irreverent, to the art world’s usage and abusage of the English language, originally written by us in 1991 but still surprisingly relevant.
What have we learnt from the recent auctions in New York and the main art fairs - Spring Masters, Frieze and Art New York? In short, we have learnt that there is still excellent demand for good quality works of art but a lack of available masterpieces and top quality works in general resulted in much lower sales totals than May 2015.
Boom years in any market are usually characterised by rapid price rises by particular artists or groups. For what is classified ‘Modern British Art’, which is broadly speaking art executed in a modern and progressive style between 1900 and 1980, the Scottish Colourists and the Newlyn School defined the boom years of the late 1980s and in the 2000-2008 period Post-War Abstraction, particularly St Ives artists, became highly collectable.
Between May 5 and May 15, the main New York auction houses will feature no fewer than 11 sales comprised of Impressionist, Modern, Post-War and Contemporary Art. Monet takes center stage with 10 canvases, four of which are estimated at or above $15 million, Giacometti and Picasso are also poised to break records.