Anders Petterson News
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Paintings by Gerhard Richter and Jean-Michel Basquiat will push the value of London arts sales next month through $200 million as sellers try to capitalize on growing demand for works by bankable contemporary artists.
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As postwar and contemporary art auctions begin in New York this week, 66 Andy Warhol lots will test the market’s appetite for one of its biggest stars. What’s the best buy?
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Contemporary art has become a more risky investment, according to a survey published before the next big test of the auction market starting today.
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Damien Hirst ’s medicine cabinets were unpacked from crates stamped “Fragile” at L & M Arts gallery in New York. Guided by precise instructions, eight assistants filled them with drug containers for today’s opening.
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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.
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London’s February series of evening contemporary-art auctions raised 56.2 percent more than last year, boosted by works by Francis Bacon and Andy Warhol , and phone bidding from a widening range of international clients.
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Investors are being invited to join a European-based group that plans to buy about $80 million worth of art and forecasts annual returns of 12 percent.
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Self-portraits by Andy Warhol and Jean-Michel Basquiat will star in contemporary-art auctions in London set to raise at least 72.5 million pounds ($116 million).
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A Ferrari 365 GTC is for sale priced at 375,000 pounds ($600,000) after its owner discovered that the car once belonged to the musician George Harrison.
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An auction of works by India’s priciest modern artist, Francis Newton Souza , is expected to raise as much as 2.2 million pounds ($3.4 million) as dealers look for a recovery in the country’s art market.
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