Christie’s Breaks Art Auction Record with Francis Bacon Painting – artmarketblog.com Christie’s New York has set a new world record for the most valuable work of art ever sold at auction with Francis Bacon’s “Three Studies of Lucien Freud” which the auction house sold for US$142.4 million during their November 12 Post-War and Contemporary Art [...]
Eric Clapton’s Gerhard Richter Sets Auction Record for Living Artist – artmarketblog.com A painting by Gerhard Richter from the collection of Eric Clapton has been sold for 21,321,250 GBP ($34.19 million) at auction in London setting a new auction record for a work by a living artist. Acquired by Clapton from Sotheby’s New York Contemporary [...]
Where does the manipulation and deception end? When will people realise that although the questionable practices exhibited by many auction houses are legal, they should not be tolerated? How far will art auction houses be able to go before someone steps in and says ENOUGH IS ENOUGH !! Let’s take a look at the history of sins committed, and those allegedly committed, by the big three art auction houses.
Not only does there seem to be the potential for art auction buyers to be influenced by incorrectly categorised and catalogued works, but apparently some auction houses now appear to conducting auctions in a manner that suggests that art buyers are unable to make decisions for themselves when buying at auction, and need to be told what they should be buying.
For those of you who missed seeing the new documentary on the art market by Ben Lewis titled THE GREAT CONTEMPORARY ART BUBBLE, you can catch it again on Monday the 25th of May at 01:10 on BBC four or download it here:
Evaluating Art Auction Results Pt. 2 – artmarketblog.com In Evaluating Art Auction Results Pt. 1 (see here) I began to take an in depth look at how people interpret auction results and exactly what it is that determines whether an art auction has been a success or not. Continuing on from that post I want [...]