November 20, 1988
The true worth of avant-garde art is decided in the marketplace, not at the public trough ("The Artists Are Restless," by Don Snowden, Nov. 6). ROGER E. GOULET Los Angeles
June 11, 2006 |
ART prices, which are being bid up by wealthy collectors in the U.S., Brazil, Russia, India and China, may falter if the global economy slows, according to a survey published last week in London. About 74% of 150 collectors and dealers said an economic slowdown was the art market's greatest risk, reported the surveyor, ArtTactic Ltd. Yet confidence that prices would be strong for six months had risen 15% since November, reflecting record-setting auctions in New York, the firm said.
March 27, 2005 |
A fire swept through Moscow's sprawling Izmailovsky art market, leaving one person dead. A woman died from inhaling poisonous fumes, an official at the Emergency Situations Ministry said. Witnesses said a second woman was hurt when she jumped from an upper story to escape the flames. The Moscow prosecutor's office said it suspected arson. One firefighter complained of a lack of water at the site. "Do you really expect there to be hydrants and extinguishers?
September 12, 2003 |
The global art market faces a price crunch in the next quarter after liquidity hit a 20-year low, with weakness spreading from the United States to hitherto resilient Europe, the head of a leading art data firm said Thursday. Thierry Hermann, chairman of Artprice.com, said art dealers and collectors had warded off a global economic downturn by narrowing down their purchases, but that method for supporting prices was no longer sustainable.
May 29, 1995 |
When "Angel Fernandez de Soto," a rare portrait from Pablo Picasso's blue period, sold at auction this month for a record $29.15 million--three times its estimated value--industry pundits immediately proclaimed that investing in art was back with a vengeance. Even before the Picasso sold to composer Andrew Lloyd Webber, many brokers, dealers, gallery owners and investors were saying they'd perceived a quiet resurgence in buying paintings for more than just aesthetic value.
February 19, 1988 |
Is Jasper Johns destined to become the Vincent Van Gogh of the contemporary art market? He already holds the record for contemporary art sold at auction. Now, a seminal Johns painting--billed as "the most expensive and important painting by a living artist ever to be offered at auction"--is expected to smash that record in a May 3 sale at Christie's in New York. "Diver," a 7 1/2x14-foot painting completed in 1962, is expected to fetch between $3.5 million and $4.