It’s that time of year again! When art collectors and spectators from all over the world direct their gazes towards the most popular auction houses: Christie’s and Sotheby’s. This blog post is a bit after the fact because, I wanted to see the outcomes of the most talked about auction lots and catalogues before I said anything.
Maybe you’re like me and are easily overwhelmed by the world of art for profit, so I have tried to make myself aware of what is going on in that sector so I can educate myself more. In my professional experience, I had always worked with not-for-profit galleries, which is a completely different monster when talking about works of art. in 2011, I was able to get an internship at a for-profit gallery in Chicago and man, did I have a lot to learn. Just a plug: If you are in Chicago, two great galleries to check out: Woman Made Gallery (not-for-profit) and MW Galleries (for profit). Check it: http://www.womanmade.org and http://www.mwgalleries.com/. My most exciting moment while working at MW Galleries was handling a Takashi Murakami and also a Vic Muniz…. oooooOOOOooooo.
Anyway, one of the most beneficial things I was required to do as a part of my internship at MW Galleries was to search all of the major art websites, blogs, auction sites, etc and create a media report that summarized all the things happening in the art world that week. I think if you are trying to learn more about art– or anything!– this is actually a really good approach. Even though my internship ended a while ago, I still find that I approach the for-profit art world in this same manner, so I don’t get to overwhelmed… because there is a lot happening at any given time.
So, back to the point… AUCTIONS! It always boggles my mind how much some of these pieces of art sell for. It’s really interesting to me how the art market trends and which artist is popular and why. It’s seems to be a really complicated and convoluted process, but captivating nonetheless. Not surprisingly, the Evening Sale for Impressionist and Modern Art was super successful… I think even more so than Sotheby’s anticipated. What I think is the most exciting is this international love of collecting art. I think Sotheby’s stated something like 35 different countries participated in this particular auction. Paul Cezanne’s Les Pommes sold for an astounding $41,605,000 USD!! I’m sorry…. WHAT!?
The other obvious crowd-pleasers did well as well– works from Picasso, Braque, Leger, Van Gogh, and Matisse.
I’m hoping that I get to a place in my life that I can invest in art to secure a future for myself and my future family. It seems if you’re smart and consult the experts, art buying can be extremely lucrative in the long term as far as securing a stable asset beyond having money in the bank. I am NO WHERE NEAR being able to do this.. it’s just kind of fun to dream about, you know?
If I’ve peaked your interest, you should look at the Sotheby’s website– not only to see some really wonderful art, but just to get a sense of how monumental the art market really is. Check it: http://http://www.sothebys.com/en/auctions/2013/impressionist-modern-art-evening-sale-n08987/overview.html