"The markets have stabilized and are picking up, which should be a tailwind. People aren't exuberant, but they're more optimistic than they've been over the last couple of years, especially in the secondary market."
"We're not trying to be all things to all people, we're not looking to have 10 spaces, and we're not looking to replicate models that have come before. The three of us bring collective expertise that makes sense at this moment."
"Private auctions have emerged as a notable format in recent years. They've been a successful innovation because they blend discretion with urgency. That was born out of the Covid moment-how do you create excitement and a deadline?"
"At the upper end of the market, there appears to have been strong competition in private auctions. Being invited to something special, having the opportunity to bid on rarefied, unique, hard-to-replicate material, coupled with a sense of competition."
The art market is experiencing a stabilization, leading to increased optimism, especially in the secondary market. A new gallery is being launched in New York by industry veterans, focusing on a fresh approach without the overhead of historic galleries. Private auctions have gained popularity, blending discretion with urgency, creating excitement and competition. These auctions are likened to art fairs, generating unique opportunities for bidders. The current market conditions are seen as favorable for new ventures in the art world.
Read at Artnet News
Unable to calculate read time
Collection
[
|
...
]