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Christie’s Declining Annual Sales 2024 marks another year in a row for Christie’s declining annual sales, when the auction house announced its projected results on Tuesday, December 17. Since a few sales are yet to be final, all the totals shared are mere estimates. In total, Christie’s generated $5.7 billion this year from live, online, […]
Christie’s Experienced a 6% Decline in 2024’s Annual Sale Read More »
The global art market showed encouraging signs of recovery in the final quarter of 2024, following a turbulent year marked by economic uncertainty and reduced collector spending. According to data from major auction houses reported by the Financial Times, total sales for the year were down by 33%, reflecting a challenging environment for the industry.
Art Market Sees Signs of Recovery in Final Quarter of 2024 Read More »
A new report by the University of Glasgow has just revealed the financial plight of visual artists in the UK, with disturbing income disparities and systemic inequalities across demographics. The study, called the “UK Visual Artists’ Earnings and Contracts Report 2024,” found that the average annual earnings of artists have plummeted to just $15,600, a
Introduction The global art market is seeing a shift towards favorable buying conditions, according to a new report by Bank of America. Titled “Art Market Update Fall 2024: Opportunity Knocks?”, the report suggests that collectors can expect improved opportunities thanks to factors such as reduced auction estimates, gallery discounts, and interest rate cuts. Upcoming events,
Abu Dhabi’s sovereign wealth fund ADQ announced yesterday that it has made approximately a $1 billion investment into Sotheby’s as the auction house continues to work toward improved financial structure and the expansion of potential markets. The deal, which closed in late October, also incorporates further financing from Patrick Drahi, who is Sotheby’s majority owner.
Artist Yasala Prakash exhibits his collection of Batik works at Yasala Balaiah Art Gallery in Borabanda, titled Divergent Images of Lord Ganesha. His canvases are known for its images of folk and cultural themes of Bonalu and Bathukamma festivals, highlighting different facets of Telangana. Visitor looks at a Ganesha work at the gallery | Photo
Ganesha With a Touch of Batik by Hyderabad-based Artist Yasala Prakash Read More »
The Twenty-first century witnessed a drastic change in selling or buying of paintings online. India is no exception in this regard. In the past few years, selling online paintings has become a new trend to look up in India. Many young artists now believe that it is better to put art online for sale. Today,
Data from the Indian market shows how phenomenally the market has grown over the past 20 years. While hitherto art was mostly considered a collectable and a luxury item, it has slowly and steadily moved into the category of capital asset, which by its very definition provides benefits over a long period of time. There
Auction Houses have played an important role in the Indian Art Ecosystem. Since auction sales are the only formal source of data available on sales of Indian artworks, they help provide unparalleled insight into the ecosystem. Analysing these sales helps us identify patterns in consumer behaviour and draw conclusions on where the market is headed.
Top Auction Houses of FY 2023 Read More »
The digital art market has been experiencing both highs and lows, with occasional impressive sales amid an overall bear market. Recently, the Canadian company Lighthouse Immersive Inc., renowned for its immersive art exhibitions, filed for bankruptcy in the US. Similarly, Christie’s faced its share of challenges in the digital art space when one of artist