Art News. Vasari Codex

trending_up market schedule May 6, 2025 visibility 26 link 24 artists, 13 galleries

Frieze New York shows signs of stability in challenging US art market

Frieze New York (7-11 May) opens its 13th edition at The Shed with around 65 galleries, including mega-galleries Gagosian, David Zwirner, Hauser & Wirth, Pace, and White Cube. The fair arrives amid a turbulent art market: global art sales declined 12% in 2024 per Clare McAndrew's Art Market Report, and President Trump's tariff decisions have roiled the stock market. Frieze's owner Endeavor recently sold the fair to a new company founded by former CEO Ari Emanuel. Despite this, US fair director Christine Messineo expresses optimism, citing strong sales at Frieze Los Angeles in February. The Focus section features 12 emerging galleries, seven of which are first-time participants, including King's Leap, Management, Voloshyn Gallery (Kyiv), and Public Gallery (London).

newspaper The Art Newspaper open_in_new Read original

trending_up market schedule Aug 18, 2025 visibility 10 link 3 artists

sothebys van halen guitar grails week 1234749497

Sotheby’s will auction Eddie Van Halen’s custom-built 1982 Kramer guitar, estimated at $2–3 million, as the centerpiece of its inaugural “Grails Week” in New York this October. The instrument, unseen for over 40 years, was played on tour, later owned by Mötley Crüe’s Mick Mars, and features Van Halen’s iconic red, black, and white striped design. The week-long sales series will also include Bob Dylan lyrics, Rolling Stones album artwork, and a Beatles cymbal.

newspaper ARTnews open_in_new Read original

trending_up market schedule May 13, 2025 visibility 14 link 4 artists

Why is the art market turning Gulf-wards?

The art market is shifting its focus toward the Gulf region, particularly Saudi Arabia and the United Arab Emirates, following a sharp decline in Chinese luxury goods sales (18–20% drop in 2024) and a 31% slump in Chinese art sales. Auction houses like Sotheby’s and Christie’s have established outposts in Saudi Arabia, with Sotheby’s first auction in Diriyah generating $17.3 million and attracting 35% new buyers. The UAE’s tax-haven status and lack of sanctions on Russians have drawn wealthy residents, while Saudi Arabia’s Vision 2030 campaign, led by Mohammed bin Salman, is pouring money into cultural projects such as AlUla, Art Week Riyadh, the Islamic Arts Biennale, and a new teamLab Borderless museum in Jeddah.

newspaper The Art Newspaper open_in_new Read original

trending_up market schedule Feb 23, 2026 visibility 13 link 2 artists

what would happen to auction houses if luxury art sales 1234773779

Major auction houses including Christie's, Sotheby's, and Phillips are experiencing a significant shift as luxury goods—such as cars, watches, handbags, and jewelry—see explosive growth while fine art sales decline. In 2025, fine art sales at the 'Big Three' fell by 35% to $7.04 billion, whereas luxury auction sales rose 18% to $1.84 billion. This trend is most visible at Sotheby’s, where luxury now accounts for a third of total revenue, driven by massive private sales and strategic expansions into sectors like collector cars.

newspaper ARTnews open_in_new Read original

trending_up market schedule Jul 8, 2025 visibility 9 link 4 artists

How Third-Party Guarantees Are Quietly (But Significantly) Rewriting the Rules of the Art Auction

The article reports that the New York Spring Marquee auctions in May 2025 generated $1.27 billion, an 8% decline from $1.38 billion in May 2024, followed by a 26% drop in London June auctions to £98 million. In response to this volatile market, auction houses like Christie’s and Sotheby’s are increasingly relying on third-party guarantees (or irrevocable bids), where a buyer agrees in advance to purchase a lot at a set price if no higher bid emerges. Data from Pi-eX Ltd shows that third-party guarantee coverage surged from near zero in 2021 to a record 73% in May 2025, with the Leonard & Louise Riggio collection being 99% backed by such guarantees.

newspaper observer.com open_in_new Read original

trending_up market schedule Sep 24, 2025 visibility 9

Meet the new faces of Australian art

Australia's biggest annual art sales weekend, centered on the Sydney Contemporary fair held September 11 and 14, 2025, attracted a record 26,440 ticket buyers across its 12 editions. However, total booth sales fell for the third consecutive year to $16 million, down from a peak of $23 million in 2022. Gallerists report that market activity has shifted from works over $100,000 to those around the $50,000 mark, indicating a cooling in the high end of the market.

newspaper AFR open_in_new Read original

trending_up market schedule Jul 9, 2025 visibility 8

The Picture Isn’t Pretty for Art. Sales Are in a Deep Slump.

The article reports that the art market is experiencing a significant downturn, with sales in a deep slump. It highlights declining auction results and weakening demand across major sectors, reflecting broader economic pressures on the art world.

newspaper Barron's open_in_new Read original