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If adopted, the legislation would bring the US art market—the world’s largest, accounting for 43% of global art sales, or $24.8bn, according to the most recent edition of Art Basel and UBS’s Art Market Report —more closely in line with the UK and European Union, which have adopted stricter anti-money-laundering (AML) regulations in recent years.
A lot of them are choosing to store items they have bought in Europe, until the tariff situation is resolved—they’ve bought a piece from a Paris dealer or auctionhouse, for instance, they ask them to store it until the tariffs have lifted, they hope,” Petit says. They’re trying to hedge the situation by buying time.
Auctionhouses and dealers lost a chunk of the asymmetry of information that had served them well, hence their initial objections (and threatened lawsuits). Privatisation and personalities Artnet’s capture of just 50% of the market (as it accounts for only auctionsales) was never the whole story—rather, it was a good enough indicator.
Mollicone cited a recent study by Nomnisma and the Intesa Sanpaolo bank, which estimated that a 5% VAT rate would boost the annual turnover of Italian galleries, antique dealers and auctionhouses to €1.5bn within three years, which would then generate an extra €4.2bn for Italy.
Over the past 20 years, we’ve seen that completely disintegrate in front of our eyes—much to the benefit of the volume of sales. The pandemic also significantly altered the way auctionhouses sell art. Profitability is a problem for auctionhouses. Private sales, too, are growing as public auction values fall.
The jewel collection, a historically significant trove known as the Piprahwa gems, was due to be auctioned in Hong Kong in May, but the sale was halted after legal intervention. The relics will now rejoin the main collection that was donated to the Indian Museum and go on permanent public display in India, the auctionhouse said.
An unsigned and untitled Thomson painting of a lake in Algonquin Park, which he originally gifted to his friend Charlie Scrim, was entrusted to Waddington’s AuctionHouse in Toronto in 2015 by Joseph Murray, whose uncle had given it to him in 1977. In 2022, Murray filed an C$11m ($8m) lawsuit against Waddington’s.
Since the works are not consigned to the organisation, dealers retain 100% of the sales proceeds. One factor that we’ve noticed is that the auctionhouses are no longer the default option for people. We find private collectors enjoy the tailored approach a specialist dealership like ours can offer.”
In May, Christie’s for the first time delivered a white-glove sale for its online Modern and contemporary Middle Eastern art auction in Dubai. The sale included a section dedicated to Saudi artists, with almost all the works selling over their high estimates. Marwan’s last solo show in London was at the Mosaic Rooms in 2015.
Sotheby's and Christie's have for more than two decades maintained dedicated departments to serve this category, through which they hold biannual sales in New York. Bonhams, although less active, also has a small South Asian department and occasionally stages live sales. The organisers of Crossing Borders.
Only now, with the family having brought the work to the auctionhouse in Munich, has it been possible to trace the entire provenance history of this work.” The soldiers left the crate and painting behind, and the work remained in the same family ownership until its recent sale.
with fees, ultimately going to a collector in Japan, the auctionhouse said. Hermès bags are often found in Sotheby’s and Christie’s luxury sales. A ten-minute bidding battle between nine collectors over phones, online and in the room drove the price up to €8.6m Then again, Birkin bags are not for everyone.
Art Sales When contemporary art owners decide to sell their pieces, they may request an appraisal to establish a realistic asking price. Auctionhouses, galleries, and art dealers often require a certified art appraisal to estimate and reserve artwork sales prices.
and how I’ve witnessed many in the art world enthusiastically jump on the NFT bandwagon following the 69 million dollar sale of a Beeple NFT at Christie’s this spring. The event involved the sale of six so-called nonfungible tokens, or NFTs, which took the form of short videos inspired by the concept of platonic solids.
We have an ONLINE APPRAISAL SERVICE and are happy to come to you, as a jaeger lecoultre buyer we are always happy to do house calls. At Sarasota Antique Buyers, we are the best place to learn the value of antiques, clocks , and sterling silver because we will give you a market analysis for all of your items. What about estate sales?
Did you find a Basquiat in the basement, a Gauguin at a garage sale or another work of art that you think is really special? We’ve also helped numerous customers successfully consign and sell their authenticated artworks through Christie’s, Sotheby’s, Bonhams and other international and regional auctionhouses.
The previous record for a copy of the 13th Amendment at auction was $2.4m, set in 2016, while the previously most valuable copy of the Emancipation Proclamation sold at auction in 2010 for $3.8m, both at Sotheby’s, according to the auctionhouse.
For their May sales in New York, Sotheby’s, Christie’s and Phillips raised a combined total of $1.27bn from their marquee auctions of Modern and contemporary art, according to data compiled by the London-based auction analysts, Pi-eX. at Christie’s New York in May Christie’s Images Ltd Slowdown, slump, shakedown, stagnation.
Art Basel 2025 Art market Fashion Share Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox. If that is beyond your budget, the Art Basel Shop will be releasing the rest of the figurines at 11 a.m.
Don't Leave Money on the Driveway: Why an Appraisal is Your Yard Sale Secret Weapon The sun is shining, the birds are chirping, as your driveway slowly transforms into an outdoor marketplace. Yes, it's yard sale season! For a yard sale? After all, the charm of a yard sale often lies in bargain hunting and hidden finds.
As an appraiser, my role is to provide an unbiased, well-researched valuation tailored to your specific needs, whether for insurance, estate planning, donation, or sale. While an appraisal does not authenticate an artwork, it can provide an informed opinion on its value based on market data and historical sales records.
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