Art market

Art marketpreview

Collaboration is key at New York's ADAA Art Show

Co-presentations and “collegiality” prove strengths of the 31st edition, which runs through 3 March

Sotheby's sales up 16% in 2018 thanks to $1bn private sales boost

Auction house reports $6.4bn in total sales last year, while chief executive Tad Smith says guarantees are not "at a particularly high level"

The good, the pricey and the Surreal: Monet flops while Signac glows at Christie's sale

Impressionist, Modern and Surrealist art auction makes second highest total for Christie's London at £165.4m, but much of overpriced collection goes unsold

Keep the Monet flowing: trim but efficient Sotheby's sale starts London's pre-Brexit Impressionist and Modern art week

£63m auction total is half that of last year, but bidding from Asia and Russia helps make new record for Oskar Schlemmer and a Venetian view by Monet

Blue chip galleries partner with London's Selfridges store to sell art

Shop's programme highlights Crossrail artists’ commissions including Chantal Joffe, Yayoi Kusama and Darren Almond

Tefaf and Artvest tussle over management of New York fairs

Papers show Tefaf sought New York Supreme Court ruling releasing it from obligation to employ Artvest for bi-annual fairs

Margaret Carrigan. with additional reporting by Anna Brady

Mary Boone's Manhattan galleries will close in April following her jail-time sentencing for tax fraud

Facing 30 months in prison beginning in May, the dealer calls herself the "Martha Stewart of the art world"

This is African art's Golden Age, but can 1-54 Marrakech help build a sustainable domestic clientele?

Western interest in contemporary works from the continent is at a high, but that can be a double-edged sword

New York edition of Volta suspended as The Armory Show makes emergency decision to relocate to Pier 90

Unforeseen structural issues have forced a third of the Armory's exhibitors out of their planned Pier 92 space and into Volta's venue

Economic growth spurs Africa’s art market—but slowly

Fledgling local client base and rising international interest fuel Cape Town and Marrakech shows

Lawnews

French court fines Art Basel backer UBS €3.7bn for tax evasion and money laundering

The conviction follows a seven-year investigation into the Swiss banking giant by French authorities

European Parliament calls for restitution overhaul

Resolution includes proposals for database of looted art, support for provenance research and exemptions from statutes of limitations

SFMoMA to sell a Rothko estimated at $35m to $50m

Proceeds would go toward acquisitions that “address art historical gaps’’

'Saddened, humbled and heartbroken': Mary Boone sentenced to 30 months in jail for tax fraud

New York art dealer falsely claimed around $1.6m in personal expenses as tax-deductible business expenses in 2011

David Kordansky doubles gallery space and expands diverse artist roster

Last year, the LA gallery took on Michael Williams, Fred Eversley, Huma Bhabha and Lauren Halsey

Art and entertainment worlds cosy up at Frieze Los Angeles

Having for years viewed each other with suspicion, relations between agencies and galleries may start warming up

Will Frieze Los Angeles succeed where others have failed?

Shrugging away doubts, the city’s art dealers are cautiously optimistic of the fair’s future

London art dealer Richard Green sued by US tycoon over €5m Old Master purchases

Gary Klesch claims undisclosed provenance led him to pay higher price for two paintings by Jan Brueghel the Elder and Salomon van Ruysdael

'Piss artist' Andres Serrano buys Trump's wedding cake

Artist paid $1,880 for the mini chocolate cake, given as a favour at US President's marriage in 2005, but is tight-lipped about his plans for the baked good

Smaller sales platforms spotlight artists without gallery representation during Mexico City’s fair week

Spaces like Salón ACME and Cinco Pisos en el Quinto offer a more ‘empathetic model’ as the region’s art market grows

Max Stern: dealer's heirs still fighting for looted art justice

With works from the forced liquidation of his gallery by the Nazis still regularly turning up in Germany, two current restitution claims by his heirs could have major ramifications for all those seeking to recover looted art

Economic policies introduced by Mexico’s new president have yet to dent dealers' sales at Zona Maco

Works at mid-tier price points are moving quickly at the 16th edition of the Mexico City fair, according to exhibitors

'Rockefeller effect' contributes to Christie’s £5.3bn record total in 2018

Brexit not a factor in dip in auctions in Europe and the Middle East, says auction house's Emeri president Dirk Boll

The Fine Art Society closes Mayfair gallery after 142 years with 'emotional' sale at Sotheby’s

Sculpture of Peter Pan and painting by Gluck were among the stars of five-hour long auction

Galerie Bastian opens new venues in London and Berlin

Former David Chipperfield-designed premises has been donated to Berlin's heritage foundation

Enigmatic Gino De Dominicis subject of complex fakes investigation in Italy

Market for Italian artist’s works slows as police investigation into alleged forgeries scares off some collectors

Drawings prove the main draw for collectors at New York’s Master Week sales

Sotheby’s sees strong sales for works on paper by Rubens and Carracci while interest in masterworks by female artists slowly rises