Art market

Art fairsanalysis

Treasure House Fair—successor to Masterpiece London—opens with half the exhibitors but an optimistic outlook

Event's organisers say they are pursuing options with UK government to "work around" Brexit

Flora Yukhnovich, painter reinterpreting Old Master imagery, joins Hauser & Wirth

The British artist’s work—which reframes art history through abstraction, feminism and pop culture—has been on countless collectors’ wishlists in recent years

Frieze turns 20: London fair teams up with star artists from Tracey Emin to Alvaro Barrington for anniversary edition

Eight artists have been invited to select one of their peers for solo stands at this year's fair

Major Robert Colescott painting coming to auction during Armory Week in New York

"1919" is among Colescott’s most important works, according to Bonhams, and figured prominently in a recent touring retrospective

Louvre interrupts sale of €2.6m record-breaking terracotta sculpture

Under patrimony laws the museum cannot intervene during the auction but can buy up works at the final price

Alexandre Crochet. With additional reporting by Gareth Harris

Fashion designer Paul Smith to sell his Banksy at Bonhams

The 2004 work Congestion Charge has a high estimate of £1.8m in the 29 June auction

Art lawcomment

The jury is out on resale clauses, but there are other options

In-demand artists and their galleries are exploring creative legal solutions alongside measures improving resale restrictions' likelihood of enforceability

Wool you look at that: rare set of François-Xavier Lalanne sheep net $1.3m at Bonhams New York

Buyers flocked to Lalanne’s famous sheep and helped ramp prices up past the auction house's estimates

Photographyanalysis

At last, photography starts to make inroads into Art Basel

Collectors show greater interest in photographers but larger galleries still favour mid-career and older artists

Basel auction house prepares for first sale after being acquired by Artcurial

Artcurial Beurret Bailly Widmer will offer a selection of works from the estate of Florence and Antoine Poncet

Art marketanalysis

Art Basel may be busy, but cautious sales reflect a complex market picture

Secondary market works are taking longer to place as art trade faces “a clear readjustment”

Art marketfeature

Art world moves in on the laid-back Balearic islands

With Hauser & Wirth's outpost on Menorca, new Ibiza gallery Can Garita and CAN Art Ibiza fair, the bohemian location is attracting art buyers

Gustav Klimt's last portrait has highest estimate ever put on a painting in Europe at over £65m

Lady with a Fan (1917) was last sold for $11.6m in 1994 and will be offered at Sotheby's in London on 27 June

Is Liste art fair’s under-40s rule starting to feel its age?

Amid a market that increasingly worships the young while women and those from the Global South fight for a place at the table, the Basel fair’s policy faces calls for a rethink

What sold on Art Basel's first VIP day: from a $22.5m Bourgeois spider to a huge $2.5m Richter sculpture

Despite fears of a market slowdown, clients were spending at a packed Art Basel

Kabir Jhala. With additional reporting by Anny Shaw

Resale rules have become the art world norm: what are they and are they enforceable?

Art sales contracts now often include terms stating when and how you can—or rather, how you cannot—sell a work on

Perrotin in talks to sell 60% stake to real estate investor to fuel growth

Founder Emmanuel Perrotin will retain a 40% stake in the international contemporary art gallery that he founded in 1990, but Colony IM will provide a capital injection and "corporate infrastructure"

Technologyfeature

Blockchain platforms promise resale royalties and provenance tracking for physical artworks

After NFT boom, blockchain technology is increasingly being used to help solve art industry's practical problems

Gagosian appoints new director for Switzerland

Andreas Rumbler will be tasked with uniting the mega-gallery's Swiss spaces "under a common vision"

Hauser & Wirth to open Paris gallery in October with Henry Taylor exhibition

Séverine Waelchli is announced as director of the gallery, which will be set in a four-storey neo-classical building near the Champs-Élysées

Jean-Michel Basquiat: a buyer's guide

Basquiat's art market superstardom rose to dizzying new heights in 2021 but auction sales dropped by 50% in 2022

'The prestigious places are the worst': low pay still dogs the art industry, despite optimistic salary survey

The art market salary report offers insights into salaried employment but the impact of low wages—and having children—in a time of rapid inflation are missing

Art advisor Lisa Schiff is cooperating with authorities investigating her business, her lawyer says

The high-profile art advisor is liquidating her firm and can no longer afford the “lavish lifestyle” she was accused of in two lawsuits filed against her by a former client

White Cube is latest Western gallery to open in Seoul

Meanwhile Esther Schipper will stage a show of Korean artists across in Seoul and Berlin this summer, and Thaddaeus Ropac is doubling its gallery space in the South Korean capital

Tiwani Contemporary signs up for last remaining space on London's Cork Street

The gallery, which specialises in artists from Africa and the diaspora, was established in 2011, and now moves into the Pollen Estate's development

Starfish brooch designed by Salvador Dalí sells for nearly $1m at Christie’s

The brooch once belonged to socialite Rebekah Harkness, the subject of a Taylor Swift song

Picasso portrait sells for €3.4m at Van Ham, a house record

The auction house's evening sale on 5 June was the most successful in its history

Italy could slash VAT on imported works of art

Proposal follows EU directive to align import sales tax among member states, causing alarm in France which currently has the lowest rate

Beijinganalysis

'The economy is bad, the mood is worse': Gallery Weekend Beijing returns under renewed fears of censorship

This is the event's first edition since China lifted its Covid restrictions