Auction houses

All hot air on climate action? Auction houses pledge to cut CO2 while organising global tours for star lots

In our new series Reality Bites, we assess whether the art market's key players are addressing the urgent issues affecting the wider world

Phillips partners with Beijing auction house Yongle for series of joint sales

Joint venture announced amid declining sales figures at Chinese auction house

Art marketcomment

Will Christie’s strike gold with its first private fund for tech ventures?

Crypto might have crashed, but online-only sales and other digital channels are allowing auction houses to deepen their business beyond the thin market for blue-chip art

Regional auction firm Rago/Wright continues to grow, merging with Chicago-based house Toomey & Co.

Each of the houses in the growing consortium will keep its identity, but share the back end of the business

Sotheby's to sell $70m of art stored at MoMA to benefit New York museum's digital initiatives

Francis Bacon triptych and Renoir still life among works from the collection of CBS founder William S. Paley that have been "under the museum's stewardship" since his death

L.S. Lowry painting could fetch a record £8m for football charity that received official ‘mismanagement’ warning

The Players Foundation says the current financial crisis has forced it to reassess how it manages its assets and ensures its benevolent work is ongoing

Russianews

William MacDougall, founder of UK's largest Russian-focused auction house, has died

Founded in 2004, MacDougall's was the first international auction house to have representatives in Moscow and Kyiv

'It's about setting the record straight': A Warhol of disputed authenticity and chequered association heads to auction

Offered next month for $500,000 to $700,000, the silkscreen canvas work is from the same series as another that was at the centre of $20m lawsuit against the Andy Warhol Foundation for the Visual Arts

Sotheby’s launches primary market channel selling works directly from artists’ studios

For each work sold, 15% will go to a charity or institution of the artist’s choice—but will the new sales format ruffle dealers’ feathers?

Art marketpreview

From a Niki de Saint Phalle fountain to a splashy David Hockney print: our pick of the highlights from September's sales

Plus, a Pre-Raphaelite treasure, an iconic James Bond poster and a set of nine intricately inlaid panels

Joseph Hotung's vast collection heads to auction, including Degas's wedding gift portrait to Eugène Manet and Berthe Morisot

Sotheby's will offer Chinese antiquities and Impressionist portraits amassed by the scion of one of Hong Kong's richest families

Microsoft mogul Paul Allen’s art collection heads to Christie’s and could be first to hit $1bn

The auction in November includes prized works from Paul Cezanne and Jasper Johns

South Korean retail giant Shinsegae poised to take control of Seoul Auction

According to Korean media, the group is close to finalising a contract to spend around $173m to acquire a majority share in the country’s largest auction house

Art marketanalysis

Influencers and antiques? How a new generation is transforming the market

In a post-Covid world, tech-savvy collectors continue to disrupt the old model of in-person trading

Christie’s launches venture capital fund for art tech startups with a focus on NFTs

Move follows concerted drive by the auction house to gain ground in the blockchain and fintech domains

'This market will not turn quickly': Christie's, confident amid fears of a coming recession, reports $4.1bn in sales in the first half of 2022

The auction house’s quick reaction to the Covid-19 pandemic has positioned it well to survive any approaching economic headwinds, executives claim

Art marketanalysis

Auction houses say the art market is booming. But what lurks beneath these shiny numbers?

Despite what hyperbolic marketing might suggest, sales of 20th-century titans are failing to reach expected price points

Banking on the Monets: Christie’s London to Paris relay auctions bring in a solid £203.9m

There were few fireworks in the three-part sale as the froth comes off the top of the market

Bonhams expands again with purchase of leading French auction house Cornette de Saint Cyr

Chief executive says latest acquisition is part of his strategy to stay local while going global

NFT apostle Noah Davis leaves Christie’s for CryptoPunks

Davis helped usher NFTs into the mainstream as Christie’s head of digital sales, and has vowed to keep the Punks pure

Sale of William Barak works breaches 'Aboriginal cultural lore', says Australian Wurundjeri elder

The Wurundjeri Corporation hopes to crowdfund $175,000 to secure the return of the pieces, which are being sold by the De Pury family at Sotheby’s New York

As market for young artists grows, Sotheby’s turbocharged The Now sale in New York threatens to eclipse its contemporary evening auction

While both back-to-back sales did well, works by artists under 40 were snapped up at a rate not matched by their elders, making seven artist records

Art marketanalysis

Experts fear New York City slashing auction house regulations could erode collector trust and confidence

As the city council cuts auction regulations, the houses say they will not change their practices, but the prospect of more opaque bidding and guarantees may prove irresistible

Art marketanalysis

Nefarious art world players: after Russian freeze out, will Saudi Arabia or China be next?

For decades Russian billionaires were feted for their free spending on the arts. Now, they are officially personae non gratae. But what of the other individuals and regimes with dubious reputations?

New York City removes rules governing auction houses in bid to stimulate business

But firms say they will continue to operate policies and practices that promote transparency

Art marketcomment

In a guaranteed market, buyers and sellers crave the unpredictable

The recent London auctions suggested a market of extremes, with some seeking the safety of guarantees and others speculating on works by young stars on the rise