Raw art Weblog

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For Sale: Art and Optimism

The NY Times have put together a great read about the movement of art and more specifically the expectation of the price people pay for these fine creations…

 

“YOU can’t help but wonder just how many of the smartly dressed people sitting night after night at Sotheby’s, Christie’s and Phillips de Pury over the next two weeks will be serious bidders and how many will be voyeurs hoping to witness an implosion of the multibillion dollar art market.

For years collectors and the news media have been speculating about when prices would finally top out. Spring sales estimates don’t suggest pessimism. The auction houses clearly hope that things will play out as they did three months ago in London, when, despite global economic queasiness, a Francis Bacon triptych sold for $51.6 million. Now two Bacon triptychs, whose owners no doubt want to capitalize on that high, are going on the block, at estimates of $25 million to $35 million (Christie’s, shown above) and a whopping $70 million (Sotheby’s).”

Continue reading this interesting article here…

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May 7, 2008 - Posted by | Art Exhibitions, Artists, News, raw art gallery, Uncategorized

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