In his Conceptual, travel artwork “Viaggi postali (Postal Voyages)” (1969-70), Alighiero Boetti, using imaginary addresses, mailed 25 letters to 25 friends, family members and artists, including his mentor and hero Marcel Duchamp.
As the fine art market rebounds from a two-year slump, investors should consider what happened when two established appraisers were called upon to place a value on Hole and Vessel II, an abstract sculpture by Anish Kapoor .
A sale by auction house Bonhams and an exhibition co-organized by the Saatchi Gallery are boosting confidence in the market for contemporary art amid worries about renewed financial turbulence, dealers said.
U.S. collectors are likely to buy at least half the lots at next week’s sales of 20th-century Italian art in London that carry a record minimum valuation of 26.5 million pounds ($42 million), auction houses said.
Lucian Freud and Alberto Burri paintings sold for $5 million each in London last night at a Sotheby’s auction overshadowed by concern about market weakness and a protest by U.S. art handlers over a labor dispute.
Jeff Koons, Lucian Freud and Gerhard Richter artworks will be among more than $500 million worth of contemporary pieces on offer this week at auctions and fairs in London. Dealers are hoping that demand holds up from billionaire buyers after stocks dived on worries about government debts.