Art market

Jury sides with Sotheby's in New York fraud trial against Rybolovlev

The billionaire had sought at least $190m in damages from Sotheby's related to deals with Yves Bouvier. Instead, he will get nothing

Sotheby's weathers 'challenging market' with $7.9bn of sales in 2023

Luxury goods and Millennials are helping buoy the bottom line, though fine art remains at the core of the business

Klimt portrait believed lost for a century to be auctioned in Vienna

The auction house Im Kinsky estimates the price of the 1917 painting at between €30m and €50m

Art marketpreview

For the first time in its 15 years, New Delhi’s India Art Fair has competition

The event continues to innovate—including a design section for the first time this year—as a new Mumbai-based fair ups the game for the South Asia region

Art marketanalysis

The Gray Market: Rybolovlev’s trial against Sotheby’s has become a slog through minutiae—and that’s good for the auction house

The art market ‘trial of the century’ has transitioned from courtroom drama to bureaucratic headache

Leaderscomment

How the Rybolovlev vs Sotheby's case shows the need for greater transparency in the art market

As the trial between the Russian billionaire and the auction house is thrashed out, it may be time to consider incorporating blockchain into the art scholarship process

Lagos's Rele Gallery to expand into Europe with new London space

The gallery was founded in the Nigerian city in 2015 and has since added an outpost in Los Angeles

Banksynews

Banksy’s shredded Girl with Balloon renamed and redated—again

Canvas that “self destructed” at Sotheby’s in 2018 was renamed Love is in the Bin by the artist’s studio—but last year it went on show in Korea with a new title and date

Art marketanalysis

The Old Master trade is still seeking new ways to restore it to life

The category’s extraordinary works sell well, but the middle and lower ends of the market are in need of new ideas

Artbonews

Economic woe can’t take the shine off Colombia's art trade

Dealers in the country remain buoyant despite a weak currency and a new wealth tax

Fog Design+Art fair straddles San Francisco’s countercultural past and complex present

Under the theme of “A Love Letter to San Francisco”, many exhibitors have chosen to champion the work of local artists, notching early sales

Two more Egon Schiele works restituted to heirs of Holocaust victim will head to auction

The two works on paper once belonged to Fritz Grünbaum, an Austrian cabaret performer who was killed in the Holocaust

Art fairsanalysis

Smaller than last year but with 'swifter sales': second edition of Singapore's Art SG opens to VIPs

The fair has seen exhibitor numbers decrease by 29% since 2023, but many galleries are reporting a better turnout

Former Victoria Miro senior director goes it alone with experimental London project

Matt Carey-Williams is looking to shake up the traditional gallery model by bringing “all the protagonists around the table in a slightly different way”

Art marketcomment

Why galleries can’t quit fairs despite higher costs and lower returns

Research reveals that fairs are not as lucrative for galleries as they once were—but what is the alternative?

‘Competition replaced by culture of generosity’? Condo London makes post-pandemic return

This month, 50 international galleries are taking part in the gallery sharing model across the UK capital

Singapore’s Art SG doubles down on VIP outreach ahead of smaller sophomore edition

Fair hopes to position itself as the natural art market hub for the Asia Pacific region

Phillips chief executive Stephen Brooks steps down after two years

Brooks, who joined the company in 2021, has left for personal reasons

Hunter Biden’s art dealer questioned by House Oversight Committee

Republicans on the House Oversight Committee questioned New York art dealer Georges Bergès this week about representing US President Joe Biden’s son

Relocation, relocation, relocation: London galleries adapt to market turmoil by expanding

Castor and Niru Ratnam are moving to bigger spaces while Emalin is opening a second gallery

Art marketanalysis

Mumbai Gallery Weekend opens to a city primed for market ascendancy

The event’s largest edition welcomes new participants and marks a moment of consolidation for the financial capital’s established dealers

Jack Shainman goes big to start next chapter

Major expansion in historic Tribeca building inaugurates 40th year of gallerist’s career

Lawyers for Rybolovlev and Sotheby's spar on first day of New York fraud trial

At issue is whether the auction house "aided and abetted" Yves Bouvier in inflating prices in four private sales

Eminent New Delhi gallery Nature Morte to open outpost in Mumbai

A solo show by Subodh Gupta will inaugurate the space, located in the gallery hub district of Colaba, this month

New app to sell works by UK's top art graduates

Works at the New Contemporaries exhibition at Camden Art Centre will be available to purchase on Gertrude

Art Market Eye | Will there be more or less work for art lawyers in 2024?

In what looks likely to be the continuation of a declining market, we may see more litigation in the art world this year