| 26/10/2019 (Estados Unidos) | 1 |
| 02/11/2019 (Japón) | 1 |
This Tuesday, May 12, is the kick-off date for New York’s major spring sales of Contemporary and Post-War Art.
With a large number of major collectors clearly back in acquisitive mode, the results of the big sales in New York during May amply covered the price expectations and were a far cry from those posted in May 2009.
Is the art market recovering? That’s at least the impression given by Sotheby’s impressive $117.1m total revenue from its Contemporary Art sale on 11 November 2009. The figure is way above the auctioneer’s total estimates which were at worst a third and at best a half as much. Christie’s on the other hand was far from posting a “surprise” total with just $63.9m from 39 lots sold the previous day.
The market for contemporary art, the most speculative segment of the art market (+108% since 2003), has not withstood the shocks of the current financial turmoil. The results of the prestigious November sales in New York organised by Sotheby’s and Christie’s on 11 and 12 November are most discouraging.