Digital Editions
Newsletters
Subscribe
Digital Editions
Newsletters
Art market
Museums & heritage
Exhibitions
Books
Podcasts
Columns
Technology
Adventures with Van Gogh
Art market
Museums & heritage
Exhibitions
Books
Podcasts
Columns
Technology
Adventures with Van Gogh
Comment

Letters, February 2016

The Art Newspaper readers
1 February 2016
Share

No dispute over transparency of pricing 

I was surprised to find my views placed in opposition to Art Dealers’ Association of America president Adam Sheffer’s in the recent article “The price is right?” (The Art Newspaper 2, January, p6).

The writer asked Sheffer to respond to the notion that auction-house pricing is more transparent than that of galleries, and stated that I had said this in a recent speech at the Talking Galleries conference [in November]. Sheffer responded, correctly, that this is false, creating the impression of discord between two colleagues. Yet later on, the article itself acknowledges that I do not believe that auction results are transparent, something on which Sheffer and I agree. There is no discord here.

The crux of the article hangs on the notion that galleries are hiding prices from potential collectors. That’s not an art world that either of us recognise. The galleries with whom we do business rarely refuse to share prices with collectors, and never for primary material. And they are quite willing and able to justify those prices when asked. What is not publicly shared by galleries is information on what sold to whom, and at what price. 

Meanwhile, auction sales are heavily publicised. Unfortunately, while auction house results are not entirely transparent, because they are public they too often determine how the market of an artist is perceived. It’s a detail, but sales and pricing are different things. In the speech I clearly point to sales transparency, not price transparency.

Should galleries more broadly publicise their sales in order to better define the markets of their artists? That remains an open question, one we are actively discussing with the hundreds of galleries that we serve.

Marc Spiegler, director, Art Basel

Melanie Gerlis, art market editor (Europe, Asia, Africa), The Art Newspaper, replies:

Adam Sheffer was asked to respond to the view that auction houses are more generally transparent than galleries, rather than specifically about prices, which were included as a subset of transparency in general. The additional data on pricing came from another source and was flagged as such. 

However, we accept that the opening sentence of this article placed too much emphasis on prices rather than transparency.

• Readers can watch the YouTube video of the full Talking Galleries presentation by Marc Spiegler at: http://www.talkinggalleries.com/project/video-recordings-2/

Comment
Share
Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox.
Newsletter sign-up
Information
About
Contact
Cookie policy
Data protection
Privacy policy
Frequently Asked Questions
Subscription T&Cs
Terms and conditions
Advertise
Sister Papers
Sponsorship policy
Follow us
Instagram
Bluesky
LinkedIn
Facebook
TikTok
YouTube
© The Art Newspaper

Related content

Art marketnews
7 January 2016

The price is right? Galleries would ‘rather not say’

Many dealers leave potential customers in the dark, allowing auction houses to define the market

Melanie Gerlis
Art Basel 2018comment
14 June 2018

Could fairs publish sale prices? Don’t hold your breath

“For all the supposed desire for transparency, no one will make the first move”

Anna Brady
Art marketcomment
14 March 2024

It’s time to end the predatory practices of 'sleeper hunters'

Sleeper hunter dealers must recognise they have an asymmetrical relationship to vulnerable people pressured by circumstance to sell off their treasured heirlooms

Ben Lewis
Art marketnews
12 June 2018

A word with Marc Spiegler

Art Basel’s global director on collector behaviour, auction price databases and the complexity of the art market

Anna Brady