Transactions
- Pi-eX, a London-based art market analytics company, reported the extent of recent losses at the “big three” auction houses, Christie’s, Sotheby’s, and Phillips. In the second quarter of last year, the auction houses made $4.4 billion. In the same period this year, they have made $900 million, a whopping 79% decline. It is clear that, at this point in time, online auctions are simply not capable of generating as much income as in-person sales. When all auctions were online-only in April, revenue dropped, as did the average lot price. And when in-person sales came back in June, so did revenue; the June sales accounted for 85% of the second quarter revenue.
- Sotheby’s London held its summer Books and Manuscripts sale, an online auction with pieces on topics as disparate as avians and Zionism. The sale notably included a collection of Oscar Wilde material from the collection of actor Steven Berkoff, who directed and acted in an adaptation of Wilde’s once-banned tragedy Salomé. Standout lots include a questionnaire of personal questions that a young Wilde answered in 1877, which sold for £47,880 (~$62,984), and a 16-page letter that he sent to the manager of St. James’s Theater outlining his comedy The Importance of Being Earnest, which sold for £126,000(~$165,712).
- Phillips has debuted a new art analytics tool, Articker, to aid in the tricky task of tracking artists’ markets. Normally the method of choice in deducing market trends in the art world is some combination of gut instinct and Artnet’s price database, a searchable aggregator of auction results. Bringing new algorithmic capacities to the table, Articker trawls open-source data like media coverage to chart market trends and identify emerging markets in a different way. Its database currently includes some 150,000 artists.
This Week in the Art World
New York’s Miles McEnery Gallery added Rico Gatson to its roster. | Miles McEnery Gallery
Gagosian will open spaces in Los Angeles and Athens. | Artsy
Art Paris released a list of its 2020 exhibitors. | Art Paris
Germany’s Federal Art Collection increased its acquisition budget by 600%. | Artforum
Sotheby’s Old Master Specialist Chloe Stead will now serve as Senior Director at Colnaghi in London. | artdaily
The Ackland Art Museum at University of North Carolina-Chapel Hill received a donation of three paintings from Jane Roughton Kearns. | Charlotte Observer
Lisson Gallery is expanding to East Hampton. | Lisson Gallery
Three trustees have joined the board of the San Antonio Museum of Art. | via email announcement
The Shaker Museum in Chatham, New York announced amajor expansion program. | Art Newspaper
Eight employees were laid off at the Huntington Library, Art Museum and Botanical Gardens in San Marino. | Los Angeles Times
The Future Generation Art Prize shortlist was announced. | Future Generation Art Prize
In Memoriam
Eric Bentley (1916–2020), theater critic and playwright | Broadway World
David Cort (1935–2020), founding member of Videofreex | Instagram
Pete Hamill (1935–2020), New York journalist, editor, and writer | The Daily Beast
John Homans (1958–2020), magazine editor | Vanity Fair
Dr. Mohamed Mashali (1944–2020), Egyptian “doctor of the poor” | Middle East Monitor
Adam Max (1958–2020), Brooklyn Academy of Music chairman | Bloomberg
Martha Nierenberg (1924–2020), Dansk Designs co-founder and art restitution plaintiff | artdaily
Alan Parker (1944–2020), British film director and producer | CNN
James Powers (1940–2020), Brooklyn gallerist | New York Times
James Silberman (1927–2020), book editor | New York Times
Abdul Hay Mosallam Zarara (1933–2020), Palestinian artist | ARTnews