Auctions in London intend to earn more than 1 billion US dollars automatic translate
The other day in New York, the two largest auction houses bailed out more than $ 2 billion. Today, all attention is focused on London, where the new auction again promises to beat the transcendental records of the cost of paintings.
«The winner» in New York was Picasso, whose painting «Les femmes d’Alger (Version ’O’)» was sold for 179.4 million dollars at the auction Christie’s. We note that in three days of bidding, Christie’s became the first auction house, which gained from the sale of art more than 1 billion US dollars. If this amount is added to the revenue of Sotheby’s, the total figure will exceed $ 2 billion.
«We entered a phase that I really can call a masterpiece market,» said Katharine Arnold, curator of the Department of Post-War and Contemporary Art at Christie’s. - «Thanks to the paintings of Francis Bacon, Yves Klein and Gerhard Richter, 76 lots are estimated at 132-187 million US dollars.» In addition to those mentioned, auctions offer the purchase of paintings by Chagall, Picasso, Manet, Monet, Gauguin and even rare works by Klimt. And there are all chances that the revenue will again exceed one billion US dollars.
Katharina Arnold pointed to an important aspect: the rapid increase in the prices of fine art ensures the flow of new paintings to the market. «There are works of art that first appear on the market, some objects were stored in family collections for 60 or more years,» she says. Among them, for example, works of the same Bacon.
«Bacon is an artist whose work market has grown significantly over the past 10 years,» says Sotheby’s senior art expert, Oliver Barker. «I think that it has now become one of the absolute icons of the last part of the 20th century.»
While auction houses tend not to see anything but the blue sky and higher prices, third-party observers in the art market assume the influence of external factors such as Greek defaults or the decision of central banks to raise interest rates that made art attractive for investment niche and significantly changed this market.
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