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Buyer beware ... the Art Market is hot and crazy

Buyer beware ... the Art Market is hot and crazy ... Happy Winter and Good Tidings ...

Artprice.com, a French company that tracks world auction results, figures overall prices in New York and London topped their mid-1990 peak for the first time this year -- by 33% and 19%, respectively. Meanwhile, Chinese art often soared to four or five times pre-auction estimates at recent Sotheby's and Christie's Hong Kong sales. Indian and Russian works are seeing similar gains.

"The Art Of Buying Art: Today's market looks awfully inflated. Tread carefully," Business Week, December 26, 2005

More

"Why Collectors Are Crazy For Chinese Art: It's not only dynastic porcelain vases. Art mavens are buying contemporary works as well," Business Week, December 27, 2004
"Time to sell in a hot market," by Souren Melikian, International Herald Tribune, February 7, 2004
"Positively Sizzling," by Missy Sullivan, Forbes, December 26, 2005
"Auction packed," by Murray Whyte, The Toronto Starr, December 17, 2005
"Deaccession roulette," by Hilton Kramer, The New Criterion, December 2005
"'Art Funds' Starved for Investors" - WSJ, A Guy In New York, August 22, 2005

Post by Peter

Posted December 21, 2005 12:17 PM · Permalink · Auctions , Auctions and Appraisals , Museums and Art

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