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The narrative of the ever-expanding top tier of the art market is beginning to show cracks, reports Robin Pogrebin in the New York Times (paywall): “In perhaps the clearest sign yet of a profound shift in the art market, Pace Gallery plans to announce on Thursday that it is reducing its artist portfolio by 50 artists and its staff by ... read more
Art is a poor investment vehicle. This should really be a truism, yet the misconception that this is not the case persists. Taking the example of the latest New York auction results – hailed by the auction houses themselves, art dealers and much of the press as a resurgence of the art market – Katya Kazakina demonstrates in detail for read more
The most comprehensive analysis of New York’s auction week is provided by Zachary Small, Julia Halperin and Tim Schneider in the New York Times (possibly behind a paywall): “Months of speculation led up to this moment, a symbol of the industry’s attempt to regain its footing after four years of fluctuating sales. It worked. Apart from the seven-minute bidding war ... read more
The gushing reports on art fairs are often hard to take, especially when the coverage comes almost exclusively from US media. You really have to read between the lines to get a sense of what is actually going on. The New York fair week demonstrates this once again.“It’s a celebration,” reads the headline of the report on Frieze written by Brian Boucher and Daniel Cassady ... read more
“The Venice Biennale, the prestigious international art fair, opens this week”. Such a matter-of-fact, nonchalant tone as that used by Amy Kazmin in the Financial Times has probably never been seen in the press before. Behind the scenes, the Biennale has long been regarded as the world’s largest art fair. Yet gallery owners and dealers have never really been keen ... read more
Berlin’s Gallery Weekend is a testament to the resilience of the local art scene, notes Niklaas Maak in the FAZ (paywall): “What has disappeared, if anything, are the affordable rents for flats and studios, and the Senate is still doing too little to keep the art world—which the capital’s image campaigns are keen to promote—in the city. The good news ... read more