In the period we are living in the market trend of contemporary art is a real enigma. If we think about the first semester of 2008, the offer of works of contemporary art was very high and important collectors expected at the sales a careful and rigorous selection of works. Unfortunately something has now changed. With the collapse of the financial markets, which has led to consequent signs of crisis even in the art system, contemporary art can no longer be considered the leading sector for sales. 

The month of September inaugurated a new historical moment, due to the failure of Lehman Brothers Holding Inc., historical society active in financial services. Since then we have witnessed the collapse of world stock markets and observed various consequences for every sector. With a degree of optimism it was hoped that the art market could have maintained its stability, but from the latest auctions it can be inferred that the great cold of the economic crisis is affecting even this sector.

On 18th October the auction house Phillips de Pury & Co. in London is opening two sessions dedicated to contemporary art, that will end the same day with the last round. A sale that will present author’s pieces, differing from the auctions of contemporary proposed by the other auction houses. Let’s consider Christie’s and Sotheby’s.

Article translated by Amritee Mahabir

It seemed utterly incredible when in 2002 Anthony D’Offay decided to close up shop with his gallery in Dering Street in London. After years of activity the famous English art dealer chose “The Guardian” to give the news of his sensational retirement, declaring that perhaps it was the right moment to leave “I am in excellent health and I will continue to muscle in with whatever is happening in the world of art, offering my support”.