Going, Going, Gone

November 29, 2011 § Leave a comment

It is traditionally observed that the art market closely follows the rise and fall of the stock exchange prices. Well, American newspapers have not failed to notice an exception to this trend lately, as sales for contemporary art in New York have generated $635 million turnover in only 3 days. With the major contemporary art sale at Sotheby’s and the Impressionists one, both held in early November, this amount exceeds a century of acquisitions budget of the Centre Pompidou! Nicolai Frahm, a London-based contemporary art-adviser, noticed that “it was one of the best auctions ever seen in [his] life – and in the middle of a recession.”

Outside the great excitement of the auction house, however, contrasted the cries of “Shame on you” from the Sotheby’s warehousemen on strike for a pay rise since July. The fall of 3% of Wall Street on that same day did not undermine the spirit of buyers and sellers – especially for the lucky man who sold a Joan Mitchell for $9.3 million bought for $3.2 million four years ago. Let’s appreciate this unashamed health in the middle of a crisis…

-Anne-Claire

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading Going, Going, Gone at Public Relations for the Arts.

meta

%d bloggers like this: