Galleries Expand in Uncertain Market Art Around Town (New York)
By KATE TAYLOR - August 27, 2007
The art market may be heading for a correction, but you wouldn't know it from the number of existing galleries expanding and new galleries opening around town this fall.
On October 4, Marlborough Chelsea will open a 10,000-square-foot space on the first two floors of the new Chelsea Arts Tower at 545 W. 25th St. The gallery was previously located in a considerably smaller space on West 19th Street. With 15-foot ceilings on the first floor, the new space will allow the gallery to show monumental sculpture. |
Abstract Confusionism
by Alexandra Peers novembre 2007 Issue
It’s not just the crazy prices that make this art-market moment so intriguing. It’s that no one has a clue about the “real” value of a work.
The billion-dollar market for art and antiques is in a period of distinct uncertainty right now—described by New York appraiser Victor Wiener as “shifting sands”—following a long series of record-setting auctions. Sales at Sotheby’s and Christie’s International for the year’s auction season, which traditionally ends in July, totaled $6.2 billion, up from $4.3 billion the previous year. Collecting art has recently achieved a breadth of social cachet and popular interest not seen in the past half-century. |
