Art values are booming as New York auctions make billions of dollars in sales

Two works by Mark Rothko, sold at Christie's for $116.4 million.Vendors at the Phillips auction were so confident of selling their pieces that about half as many as last year took the auction house's offer to guarantee a minimum price. Robert Manley, Phillips deputy chairman,London art dealer Patrick Bourne noted that female artists in particular seemed to be doing well this year, with recent sales of women's works at Sotheby's selling for"sometimes to 10 times the estimate.

"If you're worried about inflation and stock market volatility, then a blue-chip bankable name painting or sculpture can be something that investors see as a safer bet," he says, adding that the healthy prices are particularly impressive given the quantity of art on the market. The current surge in sales follows an earlier"mini-boom" in the high end art market during the height of the Covid-19 pandemic.

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weegee the Famous, the Voyeur and ExhibitionistMore than anyone else, it was Arthur Fellig, self-insistently known as Weegee the Famous, whose “photographs of the poor were made—at least, originally—for the poor themselves,” Thomas Mallon writes. Do you want to make a professional website design for your company? Click here now:
Source: NewYorker - 🏆 90. / 67 Read more »

Art Industry News: Actor Seth Green Pleas for His Stolen Bored Apes, Announcing 'Frens It Happened to Me' + Other Stories | Artnet NewsPlus, auction star Ernie Barnes gets new gallery representation, and Gurr Johns launches a new art-lending business.
Source: artnet - 🏆 522. / 51 Read more »