Art market

San Francisco’s Fog art fair returns with rapid sales of tangible works and rising interest in the digital

The fair, which was canceled in 2021 due to Covid-19, has seen strong participation from local galleries and collectors, as well as institutions

Leora Lutzabout 17 hours ago

Van Ham auction house to sell inventory of insolvent Galerie Michael Schultz

Schultz, who died last month, was arrested in 2019 on suspicion he cheated customers

Pace will launch a project space in Tribeca, with founder Arne Glimcher at the helm

“Gallery 125 Newbury is about expanding my own story...about going full circle, back to the little gallery I once had,” Glimcher said of the new space in Manhattan's booming art district

Art Basel Hong Kong hedges bets for March fair with Covid-contingency plan in May

Well over half the galleries participating in the fair are opting for satellite booths as travel restrictions continue to disrupt large-scale events

Could it be magic? Singer Robbie Williams to auction three Banksy works worth more than £10m at Sotheby’s

Former Take That star acquired the works directly from the artist’s studio in the mid-2000s

Ruth Bader Ginsburg’s personal library for sale at Bonhams

The sale traces her intellectual development from a law student and avid reader to one of the most recognizable justices on the Supreme Court.

Long walk to nowhere: auction of items owned by Nelson Mandela cancelled due to brewing dispute in South Africa

Proceeds from the sale were meant to fund a memorial garden and museum around the freedom fighter’s burial site

Hectic June awaits: Tefaf Maastricht announces new fair dates (right after Art Basel)

The Dutch art and antiques fair was forced to postpone its March event due to continuing Covid-19 restrictions, but will now run from 25 to 30 June

1-54 cancels 2022 edition of Marrakech fair due to global surge of Omicron variant

The fair, which focuses on African contemporary art, will be replaced by a smaller event in Paris

For the first time ever, a Korean museum is selling off 'national treasures' at auction

Two bronze Buddha statues are likely to make records for cultural artefacts at auction in Korea

Banksy mural 'gifted' to East Anglia town has been sold to private buyer after being removed by the owners

The mural was one of ten works peppered across English seaside towns and could have been street artist's way of raising the area’s profile

As the direct-to-consumer model for selling art gains ground, where does it leave traditional dealers?

As peer-to-peer trading disrupts the market, bricks-and-mortar galleries must reconsider what they offer collectors

The Year Ahead: the best exhibitions to look forward to in 2022

Plus, who will be the art market’s winners and losers?

Sponsored byChristie's

Sotheby’s reportedly selects Goldman Sachs Group and Morgan Stanley to pursue IPO at around $5bn

The auction house, which had been publicly traded for decades before being bought by Patrick Drahi for $3.7bn in 2019, could return to public trading later this year

Victoria Siddall makes 'difficult decision' to leave Frieze

Siddall, the global director of Frieze fairs, has been at the firm for 18 years. She will leave after the Los Angeles event this February but remain on the board

The socialite collectors, the $700,000 Cecily Brown painting and the first-refusal contract—lawsuit reveals secret machinations of the art world

Chinese collector Michael Xufu Huang was covertly buying works on behalf of the Monaco-based Federico Castro Debernardi for a 10% commission. But then he got stung

London Gallery Weekend announces 2022 dates and a new focus on UK regional museums

Last year's inaugural edition saw 140 galleries take part in the city-wide event

Sicilian castle from The Godfather movie is up for sale for €6m—but what about the extensive art collection it was built for?

Baron Pennisi commissioned the neo-Gothic villa, which includes a private chapel with frescoes by Giuseppe Sciuti, at the end of the 19th century

This £45m Magritte painting could double artist's previous record

The monumental L’empire des lumières, painted in 1961 for the artist's muse Anne-Marie Gillion Crowet, has never been sold before but will now be auctioned at Sotheby's in London in March

'Cancelled' Madonna and Child found beneath Botticelli's $40m Man of Sorrows

Infrared images of the painting, which is due to be sold at Sotheby's in New York later this month, show that an earlier composition lies underneath

Bonhams buys Nordic auction house Bukowskis

The private-equity-owned auction house's acquisition of the Swedish firm is a first move in its bid to extend its global network

Art marketComment

Art is now accepted as a financial asset, but it is still a questionable investment

It is now normal to consider art a bankable asset—for the very wealthy at least—but the art market is too volatile and risky for most investors

Berlin art dealer suspected of cheating clients has died

Michael Schultz was arrested in 2019 but died before he could be prosecuted

Rediscovered Bernhard Strigel painting found in a Toulouse home expected to sell for up to €800,000

The panel is thought to be the pair of Strigel's Thurifer Angel, which was bought by the Louvre Abu Dhabi in Paris in 2008

London Art Fair is the latest to postpone 2022 edition due to Omicron surge

The fair is the most recent casualty of the new Covid-19 variant, moving its opening back by three months

Sotheby’s faces class-action lawsuit alleging mistreatment and misclassification of workers

Lawyers for the auction house are trying to dismiss the complaint, which they call 'devoid of factual allegations,' but they could be facing a classic Catch-22.

Who will be the gatekeepers of digital art?

Museums, curators and art professionals endorse traditional art, but who will be the gatekeepers for the online world?

Shots fired: South Korea's galleries plan sale to 'warn' auction houses against speculation and 'extreme capitalist logic'

Seoul's biggest auction houses have allegedly violated an agreement made with Galleries Association Korea to ensure "healthy balance" within the art market

The top art fairs for 2022

Despite the ongoing restrictions due to the pandemic, many art fairs hope to go ahead this year. Here's our pick of the key ones to visit

India Art Fair postpones 2022 event as Delhi imposes restrictions to curb Omicron variant

South Asia's largest art fair has been forced to reschedule its 13th edition from February to April in light of rising Covid-19 case numbers

Art marketAnalysis

Get ready for the new world order: art market experts make their predictions for 2022

US dominance, industry collaborations and increased concern about climate change are all on art market experts’ minds—and, of course, NFTs

The 'Wild West' of finance: governments want to regulate NFTs and cryptocurrencies, but first they have to catch up

This booming but unregulated market is under scrutiny in the US and UK, but legislation is lagging behind innovation

Art marketComment

How 2022 will be crunch time for culture and climate

Carbon analyst and performance poet Danny Chivers says the art world can set an example by making sustainability core to the making, exhibiting and selling of art

Feeling demotivated? Sign up for an art career mentor

Art Market Mentors is looking for mentees for next year's programme, and applications close on 31 December

In latest feud over Robert Indiana’s legacy, Morgan Art Foundation claims publisher hid thousands of artworks and lied under oath

The foundation claims publisher Michael McKenzie “made a mockery of the discovery process” and “repeatedly thumbed his nose” at the court

Art marketFeature

Norwegian artist opens huge 'art space' near the Arctic Circle—which, despite appearances, is a commercial gallery

Kjell Erik Killi Olsen—one of Norway's richest artists— has funded Kjøpmannsgata Ung Kunst (KUK) in his hometown of Trondheim. But what exactly is its business model?

Auctions in China accounted for 36% of global market in 2020, new report finds

The latest China Art & Wealth White Paper found that domestic annual sales dropped by 20% to $6.2bn last year, due to Covid-19 controls, but recovered quickly later in the year

Art marketInterview

'Very, very strange and wildly illiquid': Freakonomics' Stephen Dubner on the 'bizarre' art market

The New York-based author has just released a three-part podcast series on The Hidden Side of the Art Market. Here, he speaks about what he learned—and why art is a bad financial investment, but a good emotional one

Art marketAnalysis

Have price and value in the art market parted ways for good?

In the current climate, where a teenaged NFT artist can sell for $2.9m and Old Masters have fallen out of fashion, the fickle art market has become the presiding judge of aesthetic achievement

Jenni Crain, artist and dealer at Gordon Robichaux gallery in New York, has died of Covid-19, aged 30

She "championed women, particularly those who made important contributions to the development and legacies of feminism"

Christie’s 2021 sales total $7.1bn, with $150m from NFTs and $103.4m from the most expensive work sold this year, a Picasso

Results are the highest since 2015 and come in just behind Sotheby’s $7.3bn. Hong Kong expansion plan will continue despite Beijing crackdown, as auction house "separates what is political and what is business"

European Commission clamps down further on ivory trade

Restrictions upgraded as part of new EU Directive against environmental crime and, although targeted at raw ivory, will “suspend issuing certificates for worked specimens acquired after 1947 except for pre-1975 musical instruments"

From NFTs to LFTs: 2021's biggest art stories—and what they mean

The Art Newspaper team picks apart this year’s most important developments, from demands for colonial restitution to the return of culture wars

Hosted by Ben Luke. With guest speakers Anna Brady, Martin Bailey and Jane Morris. Produced by Julia Michalska, David Clack and Aimee Dawson. With Henrietta Bentall
Sponsored byChristie's

Sotheby’s owner Patrick Drahi reportedly considering taking auction house public

Drahi bought Sotheby’s less than three years ago, took it private and began implementing a series of cost-cutting measures

Tefaf Maastricht 'postpones' March fair—but some exhibitors are outraged over refund policy

The Dutch event is asking all dealers to pay €7,500 "towards expenses and other contractual obligations". A new date for the fair next year is to be confirmed

Sotheby’s sales for 2021 surpass $7.3bn, the highest total in company history

The firm’s sales were bolstered by a sharp increase in online bidders, who accounted for 92% of all bids this year

The Armory Show’s 2022 edition will have a distinct focus on Latin American art

For the first time in its four-decade history, the fair’s curatorial programming will be led by experts in Latinx and Latin American art

Rare watercolour by Victorian artist born without arms or legs could sell for up to £5,000

Sarah Biffin was an accomplished miniaturist who was so famous in her lifetime Charles Dickens referred to her in three novels

NFTBlog

Crypto crochet: digital replica of cardigan worn by pop star Harry Styles auctioned as NFT

The Watermelon Sugar star's knitted garment, designed by JW Anderson, became an internet sensation last year

And the award goes to… my wholly personal choices of the best of the art world in 2021

Bendor Grosvenor selects his favourite exhibition, discovery, book and auction consignment of the year

Lawyer who sparked criminal probe into Guy Wildenstein tax case found guilty of fraudulently hiding $5.1m

Claude Dumont-Beghi has managed to partially challenge her conviction, though judges uphold money laundering decision

What to do when faced with adversity? Hannah Traore set to open her namesake gallery in 2022

The 26-year-old decided to launch a business, focusing on marginalised artists, after the pandemic forced Fotografiska to temporarily close and she lost her job

Art marketAnalysis

NFTs, Banksy and Asia’s ascent: 2021, the year the art market was turned on its head

The past year will mostly be remembered for the ongoing social and economic convulsions caused by Covid-19. But in the art trade, the old world order was being demolished

Frieze Los Angeles reveals details of its 2022 edition

With 100 galleries and a new public art programme, the fair is moving ahead in a new location despite the Omicron variant’s creeping influence over the art fair stratosphere

'There are too many auctions and not enough collectors': Christie's and Sotheby's thin Old Master sales fetch a combined £29.3m in London

The star of the sales was a pair of half-length portraits by Van Dyck that sold for £6.2m at Sotheby's, the second-highest price for the artist at auction

Art advisors Gurr Johns buys (another) auction house, 'catering to an under-loved sector of the market for works of art under $100,000'

The firm is buying the London-based books and works on paper specialist Forum Auctions—it previously bought Dreweatts and Bloomsbury for £1.25m in 2017

Billionaire collector Michael Steinhardt surrenders 180 stolen artefacts worth $70m

The items have been under investigation by the Manhattan District Attorney since 2017