Vasari Art Codex

trending_up market schedule Jun 17, 2025 visibility 9 link 42 artists, 9 galleries

Cause for cheer at Art Basel as strong preview-day sales take many galleries by surprise

Major international galleries reported unexpectedly strong sales on the preview day of Art Basel, despite geopolitical tensions, stock market volatility, and uncertainty over US tariffs. Thaddaeus Ropac sold works by Georg Baselitz, James Rosenquist, and Robert Rauschenberg, while Gagosian, David Zwirner, Pace, and Hauser & Wirth also reported multimillion-dollar sales, including a Ruth Asawa sculpture for $9.5 million and a Pablo Picasso painting priced at $30 million. Many dealers expressed surprise at the speed and volume of sales, which defied the broader international environment.

newspaper The Art Newspaper open_in_new Read original

trending_up market schedule Sep 18, 2025 visibility 5 link 5 artists

interest in asian art strong despite challenges art market 1234752590

The autumn edition of Asia Week New York is underway, with auction houses reporting strong interest in Asian art despite broader economic challenges. Bonhams kicked off the week with sales totaling $7.3 million, including Chinese ceramics and snuff bottles, though it offered 47% fewer lots than last year. Top results included a blue-and-white jar selling for $1.75 million and a pair of famille rose dishes for $1.5 million. Christie’s sold a Vasudeo S. Gaitonde painting for $2.35 million and a Tyeb Mehta work for nearly $2 million. New US tariffs under the Trump administration have added uncertainty, particularly for cross-border consignments and purchases.

newspaper ARTnews open_in_new Read original

trending_up market schedule Jun 12, 2025 visibility 1 link 2 galleries

Art Basel exhibitors will show ‘the most ambitious works’ despite economic headwinds

Art Basel will host nearly 290 galleries from around the world in Basel, Switzerland, from June 19-22, 2025. Director Maike Cruse expresses confidence in the art market's resilience despite a 12% decline in global art sales last year, citing an uptick in transactions in the middle and low market segments and a surge of new, younger collectors. The fair introduces a new section called Premiere, dedicated to ultra-contemporary works made within the past five years, featuring ten galleries and two first-time Art Basel participants. New EU tax breaks on art purchases, including Germany's VAT reduction from 19% to 7%, could boost sales for the roughly half of exhibitors based in the bloc, though the threat of US tariffs under President Donald Trump creates uncertainty.

newspaper The Art Newspaper open_in_new Read original