| Art Invest Net | Market Scan - Sotheby's Is All Ask And No Bid
Maurna Desmond, 05.09.08, 9:43 AM ET
Investors didn't bang a gavel when Sotheby's blurted out its bad news, but they did start selling the company's stock.
Sotheby's tumbled Friday after it disappointed Wall Street by losing money in its first quarter. The art auction house cited a fall in single owner sales and lower commission margins. Analysts polled by Thomson Financial, on average, estimated earnings of 10 cents per share on sales of $141.4 million.
The New York-based firm plunged 7.8%, or $2.16, to $25.31, in morning trading. | Art Market Trends 2007 (From Artprice)
Artprice publishes its exclusive art market report that more than 6,300 international media and institutions rely on each year. Based on the 5,4 million auction recorded by 2,900 auction houses, "Art Market Trends 2007" is a 44-pages report of macroeconomics and microeconomics analyses updated to match the auction events and the artworks prices evolutions.
This report published by ArtMarketInsight, Artprice's press agency, in collaboration with Artprice's econometrics department also includes genuine rankings such as the TOP 500 artists by turnover, the 100 highest auctions of the year.
Contents
* Edito
* The speculative bubble on the art market reached its peak in 2007
* Suicidal competition
* The United States consolidates it market leader position
* London, an ideal terrain for speculation
* China moves up to the number 3 position in the global art market
* Drouot: last bastion of the French art market?
* Is the worst yet to come? The Art Market Confidence Index - a useful tool
* The TOP 10 artists
Download pdf in French and English | Chinese contemporary art gallery for Sydney - Evan Hughes | 21.2.08 | Issue 188
SYDNEY. Judith Neilson, the wife of South African-born billionaire Kerr Neilson, has revealed details of the art she intends to put on public display in a new gallery set to open in Sydney in October. The private museum, White Rabbit, will be Australia’s first dedicated to contemporary Chinese art.
The gallery will be housed in a renovated warehouse in Sydney’s newly gentrified Chippendale area, five minutes walk from Central station, at a cost of around A$10m ($8.8m).
Zimbabwean-born Mrs Neilson was first introduced to Chinese art by the Ray Hughes gallery in Sydney in 2001. She has since travelled to China several times, concentrating on art made after 2000 and mainly buying directly from artists. Her collection now includes over 200 works by around 75 artists including Gao Feng, Qi Zhilong, Zhang Xiaotao, He Jia and Cang Xin.
Mrs Neilson says her daughter Paris is the co-curator and driving force behind the collection. Their chief curatorial consultant is the Chinese artist Wang Zhiyuan.
Mrs Neilson’s husband, Kerr Neilson, who told The Australian that he knows “nothing about art”, floated 20% of his international funds management company, Platinum Asset Management, last May, which netted him an estimated A$701m ($601m) overnight. A foundation has been set up to manage the funds of his wife’s project.
The collection is to be accompanied by a large-scale, full-colour catalogue for which The Sydney Morning Herald’s art critic John McDonald (a contributor to this newspaper) will be providing the text. | China overtakes France
Leading economist says it is now number three after the US and UK
Melanie Gerlis | 7.2.08 | Issue 188
LONDON. China is the third most important art market by value, replacing France, which has long held the coveted spot, after New York and London, a leading economist has said.
A report by Dr Clare McAndrew, who runs a research company Art Economics, commissioned by the organisers of The European Fine Art Fair (Tefaf), Maastricht, and including both auction and dealer data, found that by the end of 2006, China had already become the fourth largest global art market by value, with a 5% share. The US, UK and France were at 46%, 27% and 6% respectively. | Appetite for Art Propels Sotheby's
By SANDRA WARD - October 14, 2007
As the fall auction season gets under way, and as the market for fine art shows no sign of slowing, investors are bidding up the shares of Sotheby's, the venerable Manhattan-based auction house.
Sotheby's shares were trading in the upper $50s last week, up about 68% from a year-earlier level of $34 when Barron's outlined the potential for big gains in the shares.
The shares have snapped back nicely since slumping to $35.52 a share in August on concern that upheaval in the financial markets might sap demand for fine paintings, sculpture and other collectibles. Wall Street securities analysts now see them hitting $60.
Indeed, the newly wealthy in fast-growing emerging economies around the globe continue to drive the art-collecting boom. Sotheby's recent Hong Kong auction of contemporary Chinese art set a new record and saw broad-based buying from Chinese and other Asian and Western buyers. The stage is set for more strong showings in the major auctions in New York next month, when Sotheby's will auction paintings by Van Gogh, Picasso, Koons and Bacon, among others, in its Impressionist and Modern Art and Contemporary sales. | Stedelijk Museum Amsterdam - Andy Warhol - Other Voices, Other Rooms 12.10.07 - 13.01.08 -‘Andy Warhol. Other Voices, Other Rooms’ is een eigenzinnige tentoonstelling die aan de hand van een grote diversiteit aan media inzicht geeft in het artistieke denken van de belangrijkste icoon van de Pop Art: Andy Warhol (1928-1987). Iedereen kent zijn Campbell soepblikken, de kleurrijke afbeeldingen van Marilyn Monroe en vele andere beroemdheden. Toch valt er steeds weer iets nieuws te ontdekken in het werk van de kunstenaar die in 1928 in Pittsburgh werd geboren en op 22 februari 1987 in New York overleed. In 1968 was het eerste retrospectief van Andy Warhol in Nederland te zien in het Stedelijk Museum.
Warhol is een van de invloedrijkste kunstenaars van de twintigste eeuw, die ‘populaire’ symbolen uit ons dagelijkse leven reproduceerde. Hij geldt als hét icoon van de Pop Art. Maar waarom en hoe Warhol contact zocht met de in zijn tijd explosief groeiende populaire cultuur valt veel minder gemakkelijk te zeggen. De tentoonstelling ‘Andy Warhol. Other Voices, Other Rooms’ geeft in haar verscheidenheid een nieuwe indruk van de manier waarop Warhol naar de wereld keek. Niet alleen portretteerde hij de voorwerpen uit ons dagelijkse leven, hij was ook de eerste ‘voyeur van ons mediatijdperk’. | | | | | | | | | | | | | | | |
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