Comments on 24% goes unsold at Christies Impressionist & Modern Sale in LondonTypePad2008-02-06T16:17:08ZMAO - Modern Art Obsessionhttps://modernartobsession.blogs.com/modern_art_obsession/tag:typepad.com,2003:https://modernartobsession.blogs.com/modern_art_obsession/2008/02/24-goes-unsold/comments/atom.xml/Monty Ousley Weddell commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5504db1cc88342008-02-13T20:34:19Z2008-02-13T20:34:20ZMonty Ousley Weddellhttp://weddellart.comAuction art sales! Prices are definately up,at stagering new high prices; however, the numbers of sales are down. Due to...<p>Auction art sales! Prices are definately up,at stagering new high prices; however, the numbers of sales are down. Due to this trend, I am placing my longtime (35+yrs.)owned "Thee Art Gallery" onto the internet at weddellart.com ! This will reduce gallery lease costs, equip.,supplies, tele, elect., along with advertising, labor, etc., while exposing sales to a potentially larger market - hopefully! Keep in touch with the art trends and thank you for articles and blog. The Art Gallery at weddellart.com by Monty Ousley Weddell</p>ruben commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5502e067388332008-02-11T21:49:10Z2008-02-11T21:49:10ZrubenAnother auction to keep an eye on! Sotheby’s Uses Its (Red) Head Charity begins at home. As the economy totters,...<p>Another auction to keep an eye on!</p>
<p>Sotheby’s Uses Its (Red) Head<br />
Charity begins at home.</p>
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<p>As the economy totters, the art world is nervously eyeing Sotheby’s Valentine’s Day contemporary-art auction for clues to the market’s future direction. The fund-raising sale—to benefit Bono’s (RED) project—will offer 83 works by stars such as Richard Prince, Jeff Koons, and Cecily Brown. But there’s a hitch: Because it’s a charity auction, it’s exempt from state and local taxes, and the auction house is waiving its commissions—so buyers effectively get about a quarter off their final cost. “It’s a great ploy,” says one Sotheby’s insider. And if prices can go higher, that’ll make the contemporary market look strong before the huge—and for-profit—contemporary sales at Sotheby’s London HQ later this month. Artnet.com’s Charlie Finch admires the strategy. “If [the red auction] does badly,” he says, “they can say, ‘It’s only a charity auction,’ and if it goes over estimate, it just makes the market seem stronger.” Sotheby’s originally estimated $40 million in sales but later trimmed that estimate by a third, to a range of $21 to $29 million. </p>
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</p>Art Brute commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5502541a888332008-02-08T17:16:57Z2008-02-08T17:16:57ZArt BruteThat Basquiat sold for "6,516,500" no indication of whether that's £ or $ - but the Basquiat on paper failed...<p>That Basquiat sold for "6,516,500" no indication of whether that's £ or $ - but the Basquiat on paper failed to sell. Real quality things will continue to sell and sell well too probably but mediocre works, people just aren't going to chase for big prices anymore.</p>
<p>Don't mention the Banksy auctions last week—that's a simple reminder of how stupid people are and how easily they can be driven by their emotions. Several of the prints sold went for 3-5 times what they normally sell for everyday on ebay and galleries too. And some of the prints sold at that auction are still available from the original dealer for cost. But even those sold for double estimates. Proof those people have no idea what they're buying. Well, they bought themselves a little cool factor I guess?</p>Arun commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5501e385188332008-02-08T01:01:23Z2008-02-08T01:01:23ZArunI'd been keen to see how that Bacon triptych would go.. apparently $49 million is a horrible disappointment. Failed to...<p>I'd been keen to see how that Bacon triptych would go.. apparently $49 million is a horrible disappointment. Failed to break Bacon's record, so it's a non-newsy dud.</p>
<p>Maybe we should rethink this whole capitalism thing. Forty. Nine. Million.<br />
Everybody yawns.</p>
<p>I think at this point, such ennui , or the fact that a mediocre Banksy print of a chimp sold for half a million dollars, means this whole art market deserves a good cratering. And let's see the actually good artists emerge from the rubble.</p>Gary Hopkins commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5501a138688332008-02-06T20:20:57Z2008-02-06T20:20:57ZGary HopkinsSothebys - n- Christies sales Soar this Jan 18-2008,while auctioning off a Major Decoy Collection.One Decoy soared to $1,300,000.<p>Sothebys - n- Christies sales Soar this Jan 18-2008,while auctioning off a Major Decoy Collection.One Decoy soared to $1,300,000.</p>Edward_ commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e55019ab8d88332008-02-06T18:48:50Z2008-02-06T18:48:50ZEdward_http://edwardwinkleman.blogspot.comthe glass is not only half empty but probably laced with arsenic, eh, MAO? So Christies faltered a bit, over...<p>the glass is not only half empty but probably laced with arsenic, eh, MAO?</p>
<p>So Christies faltered a bit, over at Sotheby's "Melanie Clore, deputy chairman of Sotheby's Europe, said the house felt "jubilant" after an evening which had been its most expensive impressionist sale ever; the strength of the sale could be seen in 60% of the 79 lots being sold over and above their high estimates."<br />
<a href="http://arts.guardian.co.uk/art/news/story/0,,2253172,00.html" rel="nofollow">http://arts.guardian.co.uk/art/news/story/0,,2253172,00.html</a></p>Lisa Hunter commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e55019829e88332008-02-06T17:48:01Z2008-02-06T17:48:03ZLisa Hunterhttp://howtobuyart.blogspot.comLot number 9 is the key. Other than this Basquiat, there are no gazillion-dollar lots in this sale. If the...<p>Lot number 9 is the key. Other than this Basquiat, there are no gazillion-dollar lots in this sale. If the "on request" estimate is reasonable, the piece will sell for a lot of money and everyone will breathe a sigh of relief. But if the estimate (and reserve) is too high, it'll pass and everyone will be sure the market has crashed.</p>ruben3e commented on '24% goes unsold at Christies Impressionist & Modern Sale in London'tag:typepad.com,2003:6a00d83451694c69e200e5502df22188342008-02-06T17:33:23Z2008-02-06T17:33:23Zruben3eHey MAO! The results at Phillips De Pury Photography Auction 1/31/08 also hit home with lower estimates and sales.Surprised you...<p>Hey MAO!<br />
The results at Phillips De Pury Photography Auction 1/31/08 also hit home with lower estimates and sales.Surprised you didn't post those results.<br />
Speaking of buying, I still wanted to know your opinion about the Marilyn Minter photo.It already sounds like it not a good idea..lol</p>