India’s only daily art newspaper
he Most Expensive Artists in the World: Icons of Art Market Success American art is a broad and dynamic category that includes various forms of artistic expression created by American artists, encompassing everything from needlework and furniture to painting and printmaking. This extensive range covers numerous years, media, genres, styles, and locations, reflecting the rich […]
China’s art market is divided into two segments: ‘Artworks’, which include paintings, sculptures, installations, photographs, industrial art, and limited replicas of artworks, and ‘Cultural relics’, which include movable and immovable relics. Artworks are less regulated, with the Administrative Measures for Operation of Artworks (effective from 2016) being the most important regulation. It requires pre-approval from
Art Basel 2024 Report: The Legal Framework of China’s Art Market Read More »
After experiencing two years of expansion, sales in the art market decelerated in 2023. Factors such as rising interest rates, persistent inflation, geopolitical conflicts, and uncertainty in global politics contributed to a more discerning and cautious approach among high-end buyers. This segment had been crucial in driving sales recovery following the COVID-19 pandemic in 2021
Art Basel 2024 Report: Sales in The Art Market Decelerated in 2023 Read More »
The New York evening auctions concluded on Thursday night with Christie’s 20th Century Evening Sale, achieving a total of $413 million, comfortably within its pre-sale estimate range of $342 million to $497 million. Highlights of the Auction The brisk, 64-lot sale featured notable pieces by renowned artists, including a David Hockney painting once owned by
Christie’s 20th Century Evening Sale Nets $413 Million Read More »
Discovery and Provenance A seemingly unassuming scribble found on the back of a frame has turned out to be a hidden gem attributed to none other than the Italian Renaissance master, Michelangelo. The 1.8 by 2.6 inch piece of yellowed paper, initially estimated at $6,000 to $8,000, fetched a staggering $201,600 at a recent Christie’s
Michelangelo’s Hidden Treasure: A Scribble Fetches $201,600 at Christie’s Auction Read More »
In the traditionally male-dominated realm of art collecting, a notable shift is underway. Recent data from Dr. Clare McAndrew’s Art Basel and UBS Survey of Global Collecting in 2023 reveals a significant uptick in the participation and influence of female collectors. While male collectors often grab headlines for extravagant purchases, McAndrew’s findings underscore a growing
Women Outspend Men in Art Collecting: Median Spending Hits $72,500 in 2023, Finds Survey Read More »
Introduction The art world has long been a realm of sophistication and exclusivity, but recent trends indicate a shifting landscape, particularly in India. With a burgeoning class of young art enthusiasts and an increasing comfort with art investment, British auction house Sotheby’s is strategically positioning itself to cater to this evolving market. Catering to Young
Sotheby’s Expands Reach to Tap into Growing Indian Art Collector Market Read More »
Amidst the challenges posed by the pandemic, the Asian art market has displayed remarkable resilience, buoyed by a surge in new collectors, particularly among the millennial demographic. This surge is attributed to the region’s substantial wealth creation, fueled by a flourishing stock market, and facilitated by increased digital access to art purchases. Emergence of New
Asia’s Art Market Thrives Amid Pandemic, Attracts New Millennial Collectors Read More »
In the face of well-known challenges, including dwindling supply, perceived irrelevance, and investment concerns, the Old Master art market grapples with a supposed irreversible decline. Critics argue that the traditional appeal of these works doesn’t resonate in today’s art landscape, leading to a decline in interest and market value. Dynamics of Discovery: A New Driver
Art Dealers Navigate Challenges and Seek Innovation to Sustain Market Appeal. But, How? Read More »
Art collectors in North America are increasingly wary of fraud and provenance issues as the primary risks to their prized collections, outpacing worries about damage during travel and natural deterioration, according to a comprehensive wealth report released by Chubb, a leading insurance company. Investment and Collecting Trends The report, based on a survey of 800