Tag: hong kong

Young collectors, new outlets contribute to the continued growth of the Korean art market

A preview of the 2021 edition of the Galleries Art Fair. The 2022 edition of Korea’s oldest art fair will kick off next Wednesday at the Setec Convention Center in Gangnam, southern Seoul. [THE GALLERIES ASSOCIATION OF KOREA] The boom in the Korean art market is expected to continue this year, driven by young collectors […]

Phillips pledges funds for aid to Ukraine after his sale of contemporary art in London brought in $40 million

Against the grim backdrop of an escalating war in Ukraine, Phillips followed rivals Sotheby’s and Christie’s, hosting an evening sale of modern and contemporary art at its London headquarters that brought in 29.9 million pounds sterling ($40 million) on Thursday. The total surpassed the sum made at last year’s equivalent sale held in April, which […]

LA dealers discuss Frieze’s impact on the city’s art market – ARTnews.com

When Frieze announced in 2018 that it would launch a new art fair in Los Angeles the following year, the excitement was tinged with a whiff of skepticism. Could a major international art fair take place in a city as unruly, as changing, as sprawling as Los Angeles? At the time, Artnet News columnist Tim […]

Phillips launches fiduciary services to help clients navigate the art market

Phillips started a branch of fiduciary services. Courtesy of Phillips Text size Phillips launched a fiduciary services arm in response to demand from collectors and their advisers to navigate the increasingly complex issues of the art market. The international team will be led by Phillips’ three general counsel, Martin Wilson and Mathilde Heaton, based in […]

The Art Market at a Glance: 5 Charts That Map the Biggest Changes in the Industry This Year

If a picture is worth 1,000 words, then a graphic should speak at least 3,000. At Artnet News Pro, we’ve worked to make sense of the wild and often obscure art market. Often the clearest way to do this is to track changes and trends with data. Below, we’ve rounded up five of our most […]

art market experts make their predictions for 2022

If the past two years have taught us anything, it’s that making predictions is a wild ride. But that didn’t stop us from asking various personalities from the art world to attempt such a mission. Several topics came up repeatedly: NFTs (what a surprise), industry collaboration, concerns over carbon emissions, and speculation about young artists. […]

Forbes India – Art: China continues to conquer the art market

Chinese paintings, calligraphy, antiques and porcelain still dominate auction halls, but the report notes growing interest in oil paintings and contemporary art. Image: Isaav Lawrence/AFP AAlthough landlocked, China is becoming a colossal engine of art. Auctions in the country accounted for 36% of the global market in 2020, according to a recent report – […]

CalPERS and private equity, Art Market – Breakingviews

Last – CalPERS – Sotheby’s / Macklowe Collection – Swiss SPAC – JP Morgan – Cosmetics M&A Silver linings. CalPERS mission is to ensure a comfortable retirement for its 2 million members. In doing so, it will also help elite financiers to enjoy the high life to their prime. The California Public Employees Retirement System […]

Rugby player turned collector organizes contemporary African art sale for Sotheby’s London

Maro Itoje has organized a selection of contemporary works of art, mainly works depicting black subjects, for the Sotheby’s sale in London from November 4-10. Courtesy of Sotheby’s Text size Maro Itoje, an English rugby player who has collected African art since 2014, has organized an edition of portraits of contemporary African artists and works […]

The contemporary art market rebounds with record sales

After the beatings sustained in spring 2020 by the Covid-19 crisis, the contemporary art market has jumped, with $ 2.7 billion in auctions recorded between June 2020 and June 2021, according to Artprice, which released its annual report on Monday. The record figure follows the 36 percent drop hit the market in the first half […]

Audemars Piguet Art Commission: The moon is leaving us by Phoebe Hui

Audemars Piguet has long been an enthusiastic supporter of contemporary art, believing that, like mechanical watches, works of art represent much more than what you can actually see. To put this philosophy into action, the Audemars Piguet Art Commission is a bi-annual event that celebrates art across the world. Every two years, an artist who […]

In detail: How Young Money is changing the art market in Hong Kong

Sotheby’s senior auctioneer Ian McGinlay drew the attention of the sparsely populated downtown Hong Kong room, calling “Going once.” I go there twice! before slaughtering his hammer on “Sheng Shi Xue” by Franco-Chinese artist Chu Teh-Chun. After more than 70 bids and more than 20 minutes of deadlocked bidding, thunderous applause resounded in the auction […]

$ 103 million. Picasso leads Christie’s new 20th century art auction – ARTnews.com

Christie’s follow-up to its new 21st century art sale, which grossed $ 211 million on Tuesday, was a slightly larger 20th century art auction with 50 lots and a pre-sale estimate of over 345. millions of dollars. Covering works made between 1880 and 1980, the auction totaled $ 481.1 million, with just one lot unsold. […]

How the Chinese art market embraced NFTs

Despite China’s readiness for new technology, which encompasses the ubiquitous use of QR code, mobile payment, and live streaming, cryptocurrencies remain a gray area in the Chinese regulatory environment. In 2017, China ruled crypto-based fundraising processes involving initial coin offerings (or ICOs) illegal, and crypto-related companies have been operating on tiptoes ever since. But in […]

Rising demand for young artists fueled Sotheby’s Hong Kong’s $ 122.5 million contemporary art sale

Hopes were high as the Sotheby’s Contemporary Art Night Sale in Hong Kong approached on April 19. Asia last year proved to be a saving grace for the locked-down art industry, overtaking the United States as the world’s largest auction market. The latest Asian market test suggests demand remains broad and dynamic, but not frothy. […]

Phillips and Poly Auction join forces in contemporary art auction in Hong Kong and Beijing

Gerhard Richter’s Abstraktes Bild (940-7) could fetch up to HK $ 95 million. Uncredited Text size Phillips and Poly Auction have teamed up to present their major spring auctions in a new duo format. The twentieth-century and contemporary art and design sales of the two houses will be held simultaneously in Hong Kong and Beijing […]

Hong Kong art market comes back to life with record sale of $ 41.9 million

The Hong Kong art auction market is showing signs of a return to post-pandemic life with the sale on Tuesday of the most expensive Western artwork to ever be auctioned in Asia. “Warrior,” a painting by Jean-Michel Basquiat (1960-1988), an American artist of Haitian and Puerto Rican descent, was sold in a Christie’s single lot […]

Art market shrank 22% in pandemic year, study finds

Global sales of art and antiques in 2020 are estimated to have declined by 22% from the previous year, according to the latest annual report Art Basel and UBS Art Market report, published Tuesday. The 359-page report, the most comprehensive analysis of the effect of the coronavirus pandemic on the international art trade to date, […]

Phillips Contemporary & 20th Century Art Sale Breaks Artist Records, Totals $134.6 Million

Amy Sherald, The Bathers, 2015, grossed an artist record $4,265,000.Phillips Five New auction records for Kehinde Wiley, Mickalene Thomas, Amy Sherald, Jadé Fadojutimi and Vaughn Spann New York, December 7, 2020Total evening sale: $134,583,400 / £100,426,133 / €110,977,472 Edward Dolman, CEO of Phillips, said: “Tonight marks an amazing achievement for Phillips where we achieved the […]

the year of cancellation culture and bricks and clicks

There are many words that could describe 2020. Few are printable. It was a bit like making an army obstacle course blindfoldedAs Melanie Clore, co-founder of Clore Wyndham art Advisory puts it. In January and February, the coronavirus was widely – foolishly – viewed in the West as an Asian problem. The big question was […]

Kamala Harris Hosts Biden Campaign Art Sale

More than 100 well-known artists and estates, facilitated by approximately 50 galleries, donated works to a fundraising event in support of Joe Biden’s presidential campaign. The online sale, hosted by gallery owner David Zwirner on platform.art, kicks off with a videoconference with Kamala Harris, Biden’s running mate, on September 29. Tickets for this opening event […]

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