The VIP Air Fair, which starts this Saturday, will feature 7,500 pieces of art by more than 2,000 artists, from nearly 140 galleries in 30 different countries -- and it will be held entirely online. Could online viewing change the selection -- and potentially the value -- of art?
Andy Warhol's Self-Portrait garnered a record $32.6 million price at Sotheby's. It wasn't the only record breaker at the sale, signaling buyers' rising confidence in the market.
Recession? What recession? Plenty of cash is flowing into the art market, even as the economy struggles to get back on its feet. Now, with Picasso's "Nude, Green Leaves and Bust" garnering a record price, has the market recovered?
Christie's International says expects to have a better year in 2010 than it did in 2009. Yet there are degrees of recovery: Though the practice of guaranteeing minimum prices is poised to return, sellers won't see a swift return to the prices objects fetched at auction in 2007.
After a year and a half of art market anguish, there are signs of a comeback, with the tone set by Lucian Freud's black eye. The coming wave of contemporary art auctions are estimated to be 68% higher than last year, bringing a renewed hope to collectors around the world.
