The Ides of March Auctions
The New York Observer has a report about the recent New York art auctions and it lists who the author thinks are some of the winners and losers … In other news, BBC announced that China just became the second biggest auction market in the world.
The New York Observer has a report about the recent New York art auctions and it lists who the author thinks are some of the winners (Peter Saul, Ryan McGinley, Banksy, Glenn Ligon) and losers (Ross Bleckner, Barry McGee & some German artists).
These auctions, according to Rachel Corbett, are “sort of insulting” for artists who didn’t get into the bigger ones in May or November. The article quotes artist Robert Longo, who, while well-established, admits to his own anxieties about the mid-season events, “I don’t want to think about it—it can drive you nuts.”
In other news, BBC announced that China just became the second biggest auction market in the world. In 2010, the US represented 37% of the auction market, China is now 23% and the UK clocked in at 22%. Sorry, UK … one writer at the London Telegraph blames EU tax laws for the slippage in market share, ” … under Brussels rules, a tax is now levied on works of art every time they are re-sold for a full 70 years after the death of the artist.”
