Tag: Sales

Daniel Sallick on Why the U.S. Needs a 1% Federal Art Sales Tax – ARTnews.com

Daniel Sallick is board chair of the Hirshhorn Museum and Sculpture Garden in Washington, D.C., and a founding partner of Subject Matter, a creative advocacy firm based in the city. The views expressed here are his own. The art world has been invigorated in the past year by the notion that equity and inclusion should be mandates rather than mere abstract concepts. But while ...

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Art Basel Hong Kong’s Strong Sales Prove Ascent of Asian Art Market – ARTnews.com

After months of online viewing room (OVR) teasers, the anticipation for the hybrid 2021 edition of Art Basel Hong Kong turned into palpable excitement as fairgoers slowly trickled into the Hong Kong Convention and Exhibition Centre on Wednesday, a local public holiday, for the first of the fair’s VIP entry slots. This time around, after numerous postponements, the fair’s organizers drastically scaled down the ...

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Sotheby’s May Sales in New York Make $597 Million – ARTnews.com

On Wednesday evening, Sotheby’s staged its three-part evening sale event which included postwar American art from the collection of Texas ranching heiress Anne Marion to contemporary and Impressionist and modern art. Together the 4.5 hour sale was expected to reach $436.8 million; the final tally (final prices include the buyers’ premium; estimates do not) was $597 million. The event debuted a new David Korins-designed ...

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Phillips Launches Art Advisory Firm Aimed at Primary Market Sales – ARTnews.com

As auction houses look for new ways to maintain their existing relationships with buyers, Phillips announced that it will create an art advisory service, Phillips Art Advisory (PAA), that will help clients in a range of needs from acquisitions to collection management. Kevie Yang, an international specialist at the house, will head up the new advisory service, focusing on helping clients acquire works by ...

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Sotheby’s $270 M. Modern, Contemporary Sales Show Asian Market’s Rise – ARTnews.com

Sotheby’s three live-streamed evening sales of modern and contemporary art held on Sunday and Monday night in Hong Kong brought in a hammer total of HKD 1.46 billion, or HKD 2.1 billion with premium ($269.8 million), exceeding the collective pre-sale low estimate of HKD 1.4 billion ($179 million), across 91 works sold. Seventeen of those lots were guaranteed at a collected low estimate of ...

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Pace Gallery Hires Christiana Ine-Kimba Boyle as Online Sales Director – ARTnews.com

With an eye toward the fast-growing digital art market, Pace Gallery, which has nine locations on three continents, has made a substantial new hire, appointing Christiana Ine-Kimba Boyle as its first online sales director. Boyle will start at the gallery on May 3 and will be based in New York. Last year, after the pandemic closed its physical locations throughout the world for several ...

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Christie’s Restructures Marquee May Sales – ARTnews.com

After announcing that it had consolidated its modern and contemporary art departments last year, Christie’s has now revealed plans to adjust how it conducts its marquee evening sales in New York, beginning with its May auctions, which are typically seen as the bellwethers of the art market. Traditionally, works from the postwar era—Pollocks, Rothkos, and others—would be sold alongside more contemporary works from the ...

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Art Basel Report Says 2020 Global Art Sales Fell 22% to $50 Billion – ARTnews.com

Across the international art market, sales of fine art and antiques generated an estimated $50.1 billion in 2020, down 22% from the 2019 total of $64.1 billion, according to the 2021 annual Global Art Market Report sponsored by Art Basel and UBS and written by art economist Clare McAndrew. The result is an even greater fall of 27 percent from the $67.4 billion achieved ...

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Online FIAC Art Fair Sees Strong Sales – ARTnews.com

For much of 2020, the renowned Paris-based art fair, FIAC, planned to go forward with its in-person fair in October. However, due to a surge of Covid-19 cases in France this fall, the fair was canceled just a month before it was set to open. Now, like its other international compatriots—from Art Basel to Frieze to TEFAF—FIAC has launched its first Online Viewing Rooms, ...

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How Artists Are Using NFT Sales to Support Their Practice – ARTnews.com

Non-fungible tokens — the images and multimedia attached to strings of Ethereum blockchain code that the art world has recently become obsessed with — function on scarcity. The format imposes a sense of scarcity on what was once an environment of relative abundance, the internet. A few years ago, for example, the Nyan Cat meme, a Pop Tart-enclosed kitten flying through space emitting a rainbow, ...

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