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.

CHRISTIE’S AND SOTHEBY’S OVERCOME THE WINDS OF CRISIS WITH “MADE IN ITALY” ART 
If the London auctions dedicated to contemporary art alarmed the art market due to the downturns of Sotheby’s, Phillips de Pury and Christie’s, which altogether had an average of unsold works equal to 50%, at last the economy of sales seems to have heaved a small sigh of relief with the Italian Sales.

The Italian art market is continuing to rouse enthusiasm and attract the attention of worldwide famous collectors. A sector that has recorded a constant development over the years. Just think of 2007 when Christie’s and Sotheby’s held the Italian Sales in London. The former auction house had totalled 21 billion euros, while Sotheby’s almost took 22 billion. Last year, both auction houses sold 87% of their catalogue works.  A noticeable result for Sotheby’s, whose highest sale estimate reached 16,740,000 euros, thus realizing a 76% spread, almost equalling the success achieved in 2006, when an 80% increase was recorded.  On the contrary, Christie’s achieved 8% less than the highest estimates.

Article translated by Amritee Mahabir

 

The “Contemporary Art 1953-2003” held on 8^th April at the auction house Sotheby’s in Milan, with a crowded room and in constant demand totalled 4,115,675 euros, with a 100% of sales. The exhibition had a magnificent collection of twentieth century works, a kind of ideal “wish list” that today contemporary art fans would want for themselves.

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.