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Gallery Weekend Budapest

ArtMarketTalks:

Soon on AMT.. I will be there!

Originally posted on ArtGuideEast:

Budapest is about to have its first “gallery weekend” mid-September. ArtGuideEast asked Gábor Rieder chief organiser of GWB about the initiative, their plans and the program itself.

Rieder Gábor chief organiser of Gallery Weekend Budapest

Rieder Gábor chief organiser of Gallery Weekend Budapest

ArtGuideEast: Who initiated the idea of the first Gallery Weekend Budapest?

Gábor Rieder: The original idea was born when I discussed new possibilities with gallerist Ani Molnár who was then the president of the Association of Hungarian Contemporary Art Galleries, in early January 2014. This idea  had been circulating among the gallerists of Budapest for many years, but there were no professionals to manage the event. We have just founded a new non-profit initiative, the Creative Platform Contemporary Art Foundation, in order to organize special contemporary art projects originally related to the magazine publishing. (At that time I was the chief editor of Flash Art Hungary, since then the magazine has ended thanks to unworthy political business.) Then…

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The Britsh auction house Bonhams could be sold to Chinese Poly Culture

The power of China Poly Culture has identified its next Western prey in Bonhams, the historical British auction house with over 200 years of history. As part of the group owned by the Chinese Government, Poly Group, Poly Culture is one of the leading auction houses in Asia which in March, made ​​its debut in the Hong Kong Stock Exchange.
Owned by the Dutch collector Evert Louwman, Bonhams earlier this year had already started to looking for buyers, and will now will be sold for a figure of which we still do not know the amount, probably some hundreds of millions of pounds.
Recently, another major news involved the English house and the Asian area: the former director of Art Basel Hong Kong Magnus Renfrew has become director of Bonhams Asia, to redefine the strategy of the company in the Eastern area, perhaps already in the perspective of the great plan of acquisition by Poly Group …

An innovative tool for the art world community: Global Art Agenda is now available on your app store

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Launched on August 4th, Global Art Agenda is an innovative app developed by the French company NetDevices, with an agenda and a clever set of tools to allow the art lovers to be constantly updated on what’s happening in the art world.

The App is available in French and English for free on the App Store and on Google Play. It presents an ever-growing selection of the most significant international art events, comprising an Art Travel Guide and a Global News sections.

40 major fairs have already joined the app: Global Art Agenda covers all the key art domains and collects essential information about the significant fairs and biennials around the globe. Also, users can discover in preview a selection of galleries and of their artworks on display. Moreover, art lovers can plan their trips, finding a selection of high standing hotels, restaurants, bars & clubs etc.

Global Art Agenda offers a selection of Global News, introducing interesting articles from media partners, leading actors in the art and culture fields. Art lovers can also share information (notes, photo, articles…) and can keep track of relevant documents in their notes as maps, meeting memos and photos with Evernote.

watch the video

 

eBay and Sotheby’s new venture announced

unnamedeBay and Sotheby’s announced a partnership to develop an innovative online platform that will make it easier for millions of people worldwide to discover, browse and acquire exceptional works of art, antiques and collectibles. With Sotheby’s expertise and historic auction experience and eBay’s technology platform, they will start by offering a number of live auctions that are taking place at Sotheby’s headquarters in New York. To accomplish this, eBay in the near future will be launching a newly-designed experience on its site, tailored for collectors of rare, unique and premium art and collectibles as well as first-time buyers.

As technology evolves and mobile commerce becomes ubiquitous, collectors are increasingly purchasing high-end items online and even on-the-go from their mobile devices. Both companies will focus on growing the market at price points where they expect their collectors to converge in the future – particularly in the segments such as jewelry, watches, prints, wine, photographs and 20th design. The global art market is currently estimated around $65 billion, with annual online sales far below averages for other luxury goods.

Some figures:

• Online bidders competed for 17% of the total lots offered in 2013

• The number of lots purchased online in 2013 increased 36% vs. 2012

• More than half of all lots sold were in the $5,000-$100,000 range

• 32% of all BIDnow bidders had never transacted at Sotheby’s prior to 2013

• The number of visitors to sothebys.com on mobile devices (tablet + smartphone) doubled in 2013

• Mobile traffic now in 2014 accounts for 25% of total Sotheby’s website traffic

• Collectibles accounted for nearly $8 billion of GMV in 2013 with 36 million active buyers

• Each day on eBay, more than 3,500 auctions close with a price of >$5,000

• eBay has 145 million global active buyers in 190 countries

• 40% of eBay Volume is touched by mobile

• eBay enabled $20 billion in mobile commerce in 2013, up from $0 in 2008

Important records at Christie’s for its Post-War and Contemporary Art sale – July 1st, 2014

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Record night at Christie’s with its Postwar and Contemporary Art on July 1. 7 artists have crossed their previous records, including Peter Doig, Tracey Emin and Michelangelo Pistoletto. 29 lots have been beaten more than a million pounds, for a total of £ 99.4 million with sale percentage of 84%. Top lot at Christie’s for Francis Bacon, with Study for Head of Lucian Freud sold just under the high estimate at £ 11.5 million. Second place went to Peter Doig, which renews its record after only 24 hours, with a rare self-portrait titled Gasthof, beaten to £ 9.9 million from a maximum estimate of £ 5 million. Other important records were scored by Michelangelo Pistoletto’s Lovers, 1962-66, which reached £ 2.3 million and Tracey Emin with the iconic work My Bed, sold at £ 2.5 million, doubling the estimates, surpassing the previous record of £ 481,000 of the last fall.

Record for Jean Dubuffet with the £ 4 million paid for the work of the 1963 Le gai savoir, as well as for Hurvin Anderson, Albert Oehlen and Antoni Tàpies.
Among Italians, with excellent results for Enrico Castellani White Surface of 1963, sold to £ 626.500, Alberto Burri with Red plastic 1968 that has passed the million mark, with Lucio Fontana’s Concetto Spaziale, Attese, won by Helly Nahmad Gallery for £ 6 million and Piero Manzoni with a Achrome 1958-59 to £ 1.6 million.
Yves Klein continues to keep the market stable , in the catalog with Untitled blue monochrome (IKB 164), 1962, sold to the highest estimate of £ 2 million, and Nicholas de Stael, with the work-Composition Paysage 1954, sold also the maximum estimate of £ 1.5 million.

Contemporary art stars returned in London starting from Sotheby’s – June 30th, 2014

image001The first Evening sale of Contemporary Art bring home important results at Sotheby’s London for the big names in the postwar period. From Francis Bacon, in the catalog with a triptych of his lover George Dyer, sold over the estimates at £ 26.6 million and setting a new record for the paintings of this size for the artist. New Record for Peter Doig with the work Country-rock (wing-mirrors), remained in the same collection since 1999, the year of creation, sold at £ 8.4 million. Among other records, Adrian Ghenie with The Fake Rothko,2010, sold at £ 1.4 million based on an estimate of £ 250-350000.
The auction as a whole has reached £ 93 million, well above pre-sale expectations of £ 67.9 million, with only 8 of 58 works unsold and above the result of a year ago by 17%.
The stars of the contemporary maintain a stable market, with Warhol’s Dollar Sign (Yellow), 1981, sold at the maximum estimate at £ 4 million, and Nine Multicolored Marilyns (Reversal Series) of 1979-86, sold at £ 4.5 million, as well as Gerhard Richter at auction with Abstraktes Bild (845-3), 1997, exhibited at the Venice Biennale in the same year, sold atthe higher estimate £ 2.5 million.
On the Italian front, Nicolò Cardi went to London to gain the Achrome by Piero Manzoni 1959-60 for £ 554.500, a Concetto Spaziale by Lucio Fontana, 1966 in White at £ 902.500 and a work of the 70s by Michelangelo Pistoletto for £ 422.500.

London started its summer with Impressionist and Modern Art successful sales

Monet, Nympheas, Sotheby's

Monet, Nympheas, Sotheby’s

The sales of Impressionist and Modern Art in London began with a good result at Sotheby’s for its Evening sale on June 23rd, with a total of € 152 million and a percentage of lots sold of 91.3%.
Top lot for Claude Monet, Water Lilies, who reached its second highest price at auction, which from an estimate of £ 20-30 million has risen to over £ 31 million. The masterpiece of Piet Mondrian, Composition with Red, Blue and Grey, 1927 (£ 13000000-18000000) flew to £ 19 million, the second highest price for this artist. The work was kept in the private collection of the artist until his death in 1944, and this is one of the rare masterpieces of Mondrian presented on the auction market. Le taureau by Pablo Picasso has quadrupled reaching the maximum estimate at £ 1.8 million; an excellent result for Edvard Munch‘s Hus i Borre (1904-5) sold at £ 1 million and for Tamara de Lempicka, Suzanne au Bain, who exceeded the £ 2 million of the maximum estimate.
The following evening Christie’s totaled £ 85.7 million, with percentages of 67% sold by lot and 71% by value. Top lot the work of Kurt Schwitters 1920, Ja – Was? – Bild, sold at £ 13.9 million, a new record for the artist at auction.
From the group of 4 works by Alberto Giacometti, Femme de Venise II, 1956, has been sold at £ 9 million. Among other top lots, L’artiste et le modèle nu by Henri Matisse, sold at £ 6.8 million; Kinderbild (Katze hinter einem Baum) by Franz Marc, who made £ 6.2 million; La Montagne Sainte-Victoire vue des Lauves, watercolor on paper of 1902-1906 by Paul Cézanne, beaten to the minimum estimate of £ 3.5 million.