In times of economic crisis, as the one we are experiencing, we increasingly feel the need to save our resources, by investing them in a safe and possibly profitable way. The best thing to do is to invest in a work of art. Of course, the climate that the art market is facing is not the best. All the great experts are giving their opinion but they are also asking important questions.
An uncertainty that continues to spread, mainly due to the mediocre quotations realised in this period. Perhaps, hard times will come. The true values of the market will be redefined. In this phase of transformation and consolidation it is hoped that the art market becomes less élitist, and that even the average collectors starts to emerge.

In the last few weeks, London city has proved to be the European capital of the art market. With sales dedicated to the modern and impressionist sector, Sotheby’s and Christie’s have confirmed the good state of the market. Indeed, the “Impressionist and Modern Art Evening Sale” held on 24th June fetched 144 million pounds (284 million dollars), achieving the highest total for a European auction and giving “Le bassin aux nymphèas” by Claude Monet the new world record for the artist, selling the piece for 41 million pounds.

Article translated by Amritee Mahabir

With a total result of over 4 million euros, the success of the auction held on April 8^th in Milan at the Broggi Palace was declared. All 146 lots presented at the “Contemporary Art 1953-2003. A private collection” auction were sold.

Article translated by Amritee Mahabir

 

The auction that will take place by Sotheby’s in Milan on April 8^th is an unmissable date for all art lovers and collectors of contemporary art. The works that will go on show come from a private collection composed of about 150 pieces dating from 1953 onwards.