Art market

Art marketanalysis

V.S. Gaitonde's £3.4m record-breaking painting leads strong South Asian sales season

Glut of collections have come to auction this month, with strong results for lesser-known Indian Modernists broadening a narrow market

Art Basel in Hong Kong and Art Central—under one roof in 2021

The two fairs will take place at the same time in the Hong Kong Convention & Exhibition Centre in March

Sign up for our third and final 'New Models for New Times' event on 22 October: Clare McAndrew in conversation with Georgina Adam

In the culminating talk of our latest event series, economist Clare McAndrew and Georgina Adam discuss the future of the art market. Presented in partnership with Cromwell Place

Sign up for our first 'New Models for New Times' event on 8 October: Is the new spirit of collaboration lip-service or game-changing?

Galleries are increasingly teaming up to stay afloat—but for how long? Featuring Pilar Corrias, Caroline Douglas, Sunny Rahbar and Neil Wenman. Presented in partnership with Cromwell Place

Sign up for our second 'New Models for New Times' event on 15 October: Breaking boundaries—local is the new global

Globalisation has shaped the art market we know today, but will the current shift to the local be a help or hindrance to emerging markets in Africa and Asia? Featuring Rachel Lehmann, Sundaram Tagore, Rakeb Sile and Ayo Adeyinka. Presented in partnership with Cromwell Place

This $80m Botticelli could be one of the most expensive portraits ever sold at auction

The painting, to be offered at Sotheby's New York in January, is estimated to sell for 100 times more than the owner paid for it in 1982

Insurers fight $107m claim for Modigliani paintings seized by Italian police

A US dealer says he is owed millions by insurance brokers for 12 works that were confiscated by authorities from the Palazzo Ducale in 2017 as suspected fakes

Hedge fund manager Alexander Klabin buys stake in Sotheby's financing arm

Now the chairman of Sotheby's Financial Services, Klabin was previously approached to back a competing offer to block last year's buyout of the auction house by Patrick Drahi

Class of 2020: five picks from Art Basel's online viewing room (another one)

The latest virtual fair, OVR:2020, limits 100 galleries to showing six works each, all produced this year—we pick our highlights

Brazilnews

Court-ordered auction of works from disgraced Brazilian banker's collection prompts new controversy

The Museum of Contemporary Art at the University of São Paulo claims it is owed $3.6m for conserving and storing around 1,600 works repossessed from bankrupt Banco Santos president Edemar Cid Ferreira

Online market place for art continues to grow as new digital fair announced during Frieze week

Daata fair is dedicated to video and digital works and aims to reach collectors who “simply don’t have the patience” to watch films at real-life fairs

Controversy erupts over Fiac cancellation

Paris's major contemporary art fair has been scrapped due to Covid-19 fears, but galleries are divided over whether the decision was wise or "lacking courage"

Lisson, Sadie Coles HQ and Stephen Friedman to open (temporarily) on London's Cork Street during Frieze week

In lieu of an October fair, the blue-chip galleries will congregate around the Mayfair street during what would—under normal circumstances—be the London art market's busiest month

UK High Court ruling could be 'welcome news' for arts organisations denied Covid-19 insurance payout

Judgment this week ruled in favour of the Financial Conduct Authority's test case seeking clarification of policies as many insurers refuse to pay out during the pandemic

Art marketanalysis

The fairs are back in town: greater China reopens for business

Art021, West Bund Art & Design Fair and Art Taipei among fairs due to open in the region this autumn despite travel restrictions, shipping woes and Covid-19 fears

Fiac cancelled as new travel restrictions are imposed across Europe

The Paris art fair had seemed defiant in the face of coronavirus but organisers say they could not “meet the legitimate expectations of its exhibitors”

'Gatherings are taboo in the Covid-19 world, so where does that leave experiential art?'

New venture Superblue aims to attract younger audiences by selling tickets for immersive events, but its model is at odds with a socially distanced society

2021 art fair calendar already in flux after Taipei Dangdai moves from January to May

Delay and cancellation of events early next year prompts the question: will Frieze Los Angeles still take place in February?

Keeping it in the family: Charles Saatchi’s daughter to open huge London gallery

Phoebe Saatchi Yates has collaborated with her husband and father to launch 10,000 sq ft Mayfair gallery focused on “unknown” artists

Forrest Fenn, known for burying $2m worth of treasure in the Rocky Mountains, dies at 90

The controversial yet colourful Santa Fe-based art and antiquities dealer announced that his treasure had been found shortly before his death

Cosmoscow determined to be first major fair to go ahead

Event still plans to run this week and hopes for a less distracted local Russian collector base, starved of international art travels

Galleries cast doubt on the return of fairs in 2021 in latest Art Basel and UBS report

Covid-19 has forced galleries to cut staff by 33% on average as sales plummet 36% in the first half of 2020—and optimism is dwindling for next year

Anny Shaw. with additional reporting by Anna Brady

Hauser & Wirth appoints Fortnum & Mason head as first global chief executive

Ewan Venters will join the mega gallery in January with a focus on leading the business while co-presidents concentrate on the artists

Art marketanalysis

The art market is more neoliberal factory farm than finely balanced ecosystem: now is the time to 'rewild' it

The Covid-19 crisis presents an opportunity for artists to reclaim power from the institutions that buy, sell and show their work

Shipwrecked, disinherited, imprisoned, accused of being a Gunpowder Plotter: Tudor adventurer’s portrait hits the block

Portrait thought to be of Thomas Arundell is to be auctioned at Woolley & Wallis this week

Berlin Art Week: shows in disused airports and nightclubs defy gloomy predictions

From Berghain's lockdown exhibition to the Brücke Museum's Vivian Suter display, here's what to see in the reigning contemporary art hub this week

Manhattan's first and only freeport to close

Arcis, a high-tech $50m art storage facility in Harlem, opened in 2018 and allowed for tax-free transactions

Status of $4.8m Modigliani painting challenged as legal battle over artist's catalogues raisonnés ramps up

French expert Marc Restellini claims substantial modifications to Italian painter's 1915 portrait of Beatrice Hastings were not mentioned by Christie's when the picture was sold—twice

Art Basel cancels Miami Beach edition in December

The fair's organisers say they have "no other option" as Covid-19 cases in Florida stay stubbornly high and US travel restrictions remain in place