What the Art Market has to say about Gerhard RICHTER (1932)

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Art market news in brief… [23 Mar 2012]

Every fortnight, Artprice offers a round-up of the latest art market news in words and figures.

Highlights of the sales at Sotheby’s and Phillip’s de Pury & Company. [20 Mar 2012]

On 8 and 9 March, Phillips de Pury & Company and Sotheby’s held their prestige Contemporary Art sales in New York.

Art market news in brief… [24 Feb 2012]

Starting today, Artprice will be publishing a fortnightly overview of art market news in just a few words and figures.

11 figures for 2011 [07 Feb 2012]

The last page in our review of 2011 crystallises the art market’s main trends in 11 key figures.

Contemporary art defies the market… [15 Nov 2011]

The art market is proving its extraordinary capacity for surprise. After the very disappointing Impressionist & Modern sales in New York, the outlook for the Contemporary and Post-War Art sales was not particularly good

Contemporary art’s extraordinary success in London [05 Jul 2011]

Post-War and Contemporary art sold particularly well last week in London (28 and 29 June).

The best 2011 auction results! [03 Mar 2011]

Every fortnight Artprice posts a new or updated ranking in its Alternate-Friday Top Series. The topic of today’s TOP article is the 10 best auction results in 2011.

Contemporary art 2011: a new lease of life! [21 Feb 2011]

The austerity imposed by the crisis has been relegated to a distant memory. Collectors are back in the market, not just as observers but as active participants.

Contemporary Art sales in February: a bold selection with records expected [08 Feb 2011]

The big Contemporary Art sales begin just a few days after the Impressionist & Modern Art sales in London.

Contemporary Art sales in London [01 Feb 2010]

Christie’s and Sotheby’s apparent price optimism for their Impressionist and Modern sales on 2 and 3 February 2010 is equally visible in the catalogues for their Contemporary Art sales on 10 and 11 February. The two majors are expecting a combined total of £69m from their evening sales, a figure which would represent a 54% more than February 2009 high estimate.

Contemporary Art in convalescence [06 Jul 2009]

While London’s auctioneers congratulate themselves on the healthy sold rates at their June Contemporary Art sales (92.5% at Sotheby’s, 88% at Christie’s and 75% at Phillips de Pury & Company), bidders are continuing on a path of caution and sobriety.

Venice Biennial Art Fair: the Golden Lion prize [08 Jun 2009]

The 53rd Venice Biennial Art Fair opens to the public on 7 June 2009. For six months it presents a panorama of global contemporary art in pavilions representing the artists and countries invited. Launched in 1895, the Venice biennial has a long tradition of selecting a handful of artists to receive its prestigious prizes. Do the Golden Lions – awarded parsimoniously over the years – constitute an accelerator for the price indices of the artists that receive them?

Artprice’s TOP 10 ranking: the art market heavyweights in 2008 [15 Mar 2009]

Every year Artprice publishes its ranking of artists based on auction revenue. At the end of 2007 the figures were remarkable: the market’s Top 10 had generated a combined total of $1.8bn, up no less than 50% on the previous year’s total. In 2008 the total was $100m lower than for 2007 at $1.7bn, a figure representing 20% of the total global art auction market on 1.5% of its transactions.

The Middle Eastern market – Sotheby’s arrives in Doha [22 Feb 2009]

In August 2008, the Art Market Insight published an overview of the boom in Iranian art. The United Arab Emirates, the new eldorado of cultural tourism, is building its Louvre in Abu Dhabi and its Guggenheim in Dubai, the city that has established itself, in two years, as the new capital of the Middle Eastern art market. In 2008, auction revenues in Dubai amounted to USD 34.9 million, a +70% increase on 2007.

Results of the Contemporary art sales: seriously off the boil [15 Feb 2009]

A week of sales in London Sotheby’s, Christie’s, and Phillips de Pury & Co tested the resilience of the contemporary art market which has been the most speculative and volatile compartment of the market over the last few years.

Contemporary art loses its shine [17 Nov 2008]

The market for contemporary art, the most speculative segment of the art market (+108% since 2003), has not withstood the shocks of the current financial turmoil. The results of the prestigious November sales in New York organised by Sotheby’s and Christie’s on 11 and 12 November are most discouraging.

The New York miracle [15 May 2008]

The gloomy financial climate of the beginning of the year fuelled fears of a rapid deflation of the speculative bubble the art market has been enjoying over recent years. These fears seemed all the more justified as European art prices contracted by 7.5% in the first quarter of the year.With the dollar weak, it remained to be seen how the New York art market would react -particularly in the high-price segments. Not surprising therefore that the Impressionist & Modern Art sales at Christie’s and Sotheby’s of 6 and 7 May, followed, a week later by the Contemporary Art sales, were observed with much interest, particularly by investors who had watched Sotheby’s stock price reduce to less than 30 dollars at the start of the year.

‘Contemporary Art – evenings sales’ in London: £140 million [25 Jun 2007]

Having achieved a historic result in this sector on 16 May last in New York ($384,654,400), Christie’s opened the ball of the London contemporary art sales on 20 June with sale proceeds of £67,470,800 in 83 lots. The following day, Sotheby’s outstripped its competitor, selling 66 lots for a total of £72,427,600. In 2006, the total London proceeds of the two auction houses’ contemporary art evening sales amounted to close to £56 million.

Contemporary photography: +35% in 2004 [21 Mar 2005]

In the mid-1990s, paintings were the only medium in the art market that investors considered of any speculative interest. But recently, with growing demand and a wave of artistic renewal, other creative formats have proved as, or more, lucrative than paintings. The photography market has been expanding rapidly for the past five years and is today one of the art world’s fastest-growth segments.

How do the art market heavyweights measure up? [15 Jun 2003]

The world’s top ten artists by turnover (see rankings) generated USD506 million at auction in 2002. With only 1.7% of total transaction volumes they represent 20% of the art market.

Contemporary art auctions in New York reassure the market with 34 records in three days [24 Nov 2002]

In a tense economic climate, contemporary art auctions in New York are proving stronger than modern art and impressionist art sales. The evening auctions may have been unexceptional. But Sotheby’s and Christie’s still managed some reassuring surprises, generally in the less prestigious later sessions, when prices for some artists showed real growth and some of them turned out to be impressive records.

Gerhard Richter: at the peak of contemporary art [29 Oct 2002]

Gerhard RICHTER has been all over the auction rooms lately. Since the exhibition “Gerhard Richter: 40 years of painting” opened, 80 pieces have been offered for auction and prices are still rising (+67% between January and June 2002), although none this year has had the quality to beat the record set 15 May 2001: USD4.9 million for Drei Kerzen (Three Candles).

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