Art Market : Bull market leaves some sales still depressed

Spring auctions at Christie’s showed the art market making a healthy recovery, particularly with artworks like Vlaminck’s ”Suburban Landscape” which exceeded estimates selling for $22 million.  Some artist however, particularly contemporary artists like Francesco Clemente, find their pieces to be under performing.  A recent NYTimes article, “Does Money Grow on Art Market Trees? Not for Everyone”, explores the psychology of art markets and what determines how contemporary artists are valued.

As Marc Glimcher, president of Pace Gallery puts it, many criteria determine value; “How many galleries are trying to get a Murakami show from Murakami’s main dealers? How many museum or gallery shows of X artist are there per year? How many different continents do they show on per year?” Auction houses, which publish their sales, are the most accessible source of information for valuing art but these other factors are equally critical in determining a work’s current and future value.


About projectpatrimonio

Helena Boyden Lamb, born 1985 in New York, has studied and worked in Politics, Heritage Ethics and Politics, and Opera Singing. Most recently, she is working in Brussels where she started in a European Think Tank and is now the Executive Office of a NGO which facilitates Youth Politics across the EU. She has a Bachelor with Honors from Stanford University, California in Classics: Politics and Heritage and a Masters with Honors from the London School of Economics and Political Science, UK in European Identity. She has conducted academic or independent grant-funded research in the UK, France, Italy, Greece, Russia, Cyprus, Czech Republic, and Albania. She was, previously, an archaeologist and an opera singer. Cynthia Querio is a Museum Educator currently living and working in Los Angeles. She is interested in heritage and identity politics and the role of museum education departments in the trajectory of this debate. She moved to Los Angeles to pursue a 9 month graduate internship at the Getty Villa's education department and has continued to work in many museums in Los Angeles including LACMA and the Autry National Center. Her academic background is in the Classics, which was her major at Stanford University and which she continued to pursue with a Masters in the History of Classical Art at the Courtauld Institute of Art.
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