If the results are positive from Armory Week sales, given there were signs of life in the art market with some of the fall sales and fairs as well (those perhaps better than expected) followed by the early 2010 sales being positive as well, the direction and expectations are justified. Perhaps now there is a little bit of traction and momentum, and if that is the case, hopefully it will also trickle down to the middle market as well.
Kazakina states
To read the full article, click HERE.The art market got a shot in the arm with recent record auction sales of Raphael, Giacometti and other works, encouraging dealers to make sounds of incautious optimism.
“The economy for the art market is booming,” said New York-based art dealer Richard Feigen, who has reason to hope so as he will show a $2 million Miro and a $750,000 Warhol at one of this week’s fairs, the Art Show. “There will be a great deal of money looking for art.”
Here’s a guide to the major events:
The Art Show, America’s longest running art fair, will kick off the week’s festivities at the Park Avenue Armory Tuesday night. Its gala, benefiting the Henry Street Settlement, attracts collectors such as Lightyear Capital’s Don Marron and Blackstone Group’s Stephen A. Schwarzman. The Art Show features 70 galleries, with works by Picasso, de Kooning and others ranging from Impressionism to cutting-edge contemporary.
For just over $5 million, you can pick up a 1954 painting by Belgian Surrealist Rene Magritte, depicting a bloody plaster head, at Acquavella Galleries. On the lower end, there’s a $20,000 self-portrait by Julie Heffernan (who paints herself as a man) at Chelsea’s P.P.O.W. gallery.
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