Auction sales increased by 25 % in 2017
According to a new report by Art Tactic, surveying sales data from Christie’s, Sotheby’s, and Phillips, global sales — excluding online transactions — have increased by 25% in 2017.
According to Art Tactic, the houses sold $11.21 billion in art last year, with 29.3% of sales in the Post war and contemporary department and 21.5% in the Impressionist and Modern art one. Chinese and Asian auctions totaled $1.74 million in 2017. Christie’s remained the market leader, mainly thanks to the $450 million sale of the Salvator Mundi. The auction house totaled $5.89 billion in sales. Phillips has known a 28% increase in sales, but its auction total was a far cry from its two competitors, totaling at “just” $624 million. More via artnet.
Art Berlin announces new location and dates
The second edition of the fair, organized by the discontinued abc art berlin and Art Cologne, will move to a new location in the former Tempelhof airport, and will take place two weeks later as compared to last year, with an opening scheduled for September 27. The fair will run parallel to international competitors EXPO Chicago and Vienna Contemporary. Read more on Monopol.
Yuki Terase was appointed as Sotheby’s head of contemporary art
Yuki Terase, who had contributed to the record-breaking $110.5 million sale of Basquiat’s Untitled (1982) to collector Yusaku Maezawa, was appointed head of contemporary arts at Sotheby’s. Terase has also orchestrated sales of contemporary Chinese, Japanese and Korean art in Asia, and she will focus on the development of the auction house in Japan. Terase joined Sotheby’s in 2011 after a career at Morgan Stanley in Tokyo.
Yuki Terase Director Head of Contemporary Art, Asia
