Comments on Are things about to "Slow" in the Contemporary Art World?TypePad2006-10-17T14:25:55ZMAO - Modern Art Obsessionhttps://modernartobsession.blogs.com/modern_art_obsession/tag:typepad.com,2003:https://modernartobsession.blogs.com/modern_art_obsession/2006/10/are_things_abou/comments/atom.xml/George commented on 'Are things about to "Slow" in the Contemporary Art World?'tag:typepad.com,2003:6a00d83451694c69e200d834f30b1e69e22006-10-19T16:47:48Z2007-08-18T19:39:03ZGeorgehttp://futuremodern.blogspot.comI'm not that negative on the market, it just seems like it has flattened out somewhat.<p>I'm not that negative on the market, it just seems like it has flattened out somewhat. </p>billbob commented on 'Are things about to "Slow" in the Contemporary Art World?'tag:typepad.com,2003:6a00d83451694c69e200d834f2ea2369e22006-10-19T02:31:44Z2007-08-18T19:56:54ZbillbobDon't have to necessarily look at it negatively. (Unless you're looking to unload millions) Could be a buyers market coming....<p>Don't have to necessarily look at it negatively. (Unless you're looking to unload millions) Could be a buyers market coming. Might be able to get some choice prints without having to pay absurd prices. And at this point I don't/wouldn't buy anything unless you can get a pretty good price. It's not as though you can't live without any of this stuff. I might avoid buying stuff for the sole purpose of flipping though.</p>George commented on 'Are things about to "Slow" in the Contemporary Art World?'tag:typepad.com,2003:6a00d83451694c69e200d834bd2a1653ef2006-10-17T18:41:00Z2007-08-18T18:37:03ZGeorgehttp://futuremodern.blogspot.comPerusing the recent Contemporary sale results on ArtNet: Sotheby's London: Day 10/16 - 36/208 lots = 17% bought in Christie's...<p>Perusing the recent Contemporary sale results on ArtNet:</p>
<p>Sotheby's London: Day 10/16 - 36/208 lots = 17% bought in<br />
Christie's London: 10/15 -9/65 lots = 13.8% bought in<br />
Christie's London: (Harlap Collection)10/15 -3/35 lots = 8.6% bought in<br />
Phillips, de Pury & Co:10/14 -5/72 lots = 3.9% bought in<br />
Sotheby's New York: 10/11-85/388 lots = 22% bought in</p>
<p>Looks like the market has reached a permanently high plateau</p>todd commented on 'Are things about to "Slow" in the Contemporary Art World?'tag:typepad.com,2003:6a00d83451694c69e200d834f280a869e22006-10-17T16:35:48Z2007-08-18T19:06:42ZtoddI don't think things are slowing in the contemporary art world - witness the fact that over 90% of the...<p>I don't think things are slowing in the contemporary art world - witness the fact that over 90% of the Part I auctions in London were sold. The issue here is that items like the Kippenberger and Viola had lower estimates 3-5 years ago that would have encouraged more ferocious bidding amongst interested parties. But the estimates have now risen to the point that only very serious bidders are involved, and there is very little room for items to exceed their estimates. Artworks are still selling well assuming the quality is good and the estimates are reasonable, but it appeared that things had slowed slightly in London last week, when in reality all that had happened was valuations and estimates of the artworks have risen considerably in the recent past couple of years and can't really go much higher (for now).</p>