Art World Watches Closely as Auction Season Starts - NYTimes.com
Brendan Mcdermid/Reuters
Picasso’s “Aubade,” on display at Sotheby’s in New York, will be included in the Impressionist and modern art sale on Wednesday.
ART
Friction as Artists File Suit Over Resale Royalties
Two class-action lawsuits have been brought by artists and their estates against Sotheby’s, Christie’s and eBay for failure to pay royalties.
Read More »
As the fall auction season kicks off on Tuesday night in New York, the art world will be watching closely to see how the turmoil in the world’s financial markets affects the bidding. This week, all eyes will be on the sales of Impressionist and modern art at Christie’s (Tuesday night) and Sotheby’s (Wednesday), where hundreds of millions of dollars’ worth of work by masters like Degas and Picasso, Giacometti and Magritte will be up for sale. As has happened in the past, collectors may feel safer investing in a painting or sculpture than in the stock market, making for a buoyant round of auctions. Or, as has also occurred, nerves and outright fear could lead to stagnant sales and flat prices. Stay tuned.
Picasso’s “Aubade,” on display at Sotheby’s in New York, will be included in the Impressionist and modern art sale on Wednesday.
ART
Friction as Artists File Suit Over Resale Royalties
Two class-action lawsuits have been brought by artists and their estates against Sotheby’s, Christie’s and eBay for failure to pay royalties.
Read More »
As the fall auction season kicks off on Tuesday night in New York, the art world will be watching closely to see how the turmoil in the world’s financial markets affects the bidding. This week, all eyes will be on the sales of Impressionist and modern art at Christie’s (Tuesday night) and Sotheby’s (Wednesday), where hundreds of millions of dollars’ worth of work by masters like Degas and Picasso, Giacometti and Magritte will be up for sale. As has happened in the past, collectors may feel safer investing in a painting or sculpture than in the stock market, making for a buoyant round of auctions. Or, as has also occurred, nerves and outright fear could lead to stagnant sales and flat prices. Stay tuned.
