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In Canada, the government is being called upon to regulate auction house guarantees and require full disclosure from the houses about conflicts-of-interest, and bid shilling. Sotheby’s is first Canadian house to offer guaranteed prices. ‘It’s like cowboy country … something has to be done federally’ One of the most controversial hallmarks of the supercharged international … Read more
Lee Rosenbaum has an insightful interview on New York Public Radio to help explain how the art market is supporting roaring sales, even in the face of news about the economy faltering. Listen to Lee Rosenbaum’s commentary on WNYC New York Public Radio at her blog.
Sotheby’s, the auction house, is banking on a $70 million (£36 million) sale of Francis Bacon’s 1976 painting Triptych next week to offset what it calls uncertain economic times. The auctioneer hopes that it will attract as much as $477 million from its sales of contemporary art in New York next week, when Mark Rothko’s … Read more
Southeby’s loses money this quarter, CEO attributes loss to the credit crunch and guarantees From the story: Sotheby’s, the world’s largest publicly traded auctioneer of art and collectibles, disappointed investors with a first-quarter loss and said revenue from auctions declined. The shares fell $2.56, or 9.3 percent, to $24.91, at 4 p.m. in New York … Read more
In case you haven’t noticed graffiti art has gone mainstream. Spray paint art even has a new name; Street Art. Alice Fisher has an article in The Guardian explaining how Street Art has moved, with the help of the internet, from underground to mainstream acceptance by the establishment in short order. From the article: It’s … Read more