The Independent Art Fair will launch a new fair in September this year that will focus on 20th Century Works. “Over the years, there has been a shift, with next-generation dealers showing a more diverse group of artists and territories, geographically, socially, politically,” says Independent director Elizabeth Dee. “They are looking forward and looking back, saying, ‘We need to have a canon that looks like our program.’”
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The second leg of Sotheby’s sale of works from the collection of real estate magnate Harry Macklowe and his ex-wife Linda Macklowe has netted $246.1 million, bringing the total sale price for the collection to a record $922 million, with fees. “Either art is one of the few assets that seem to have a good immunological protection against recession, or inflation is much stronger than we think,” says specialist Loic Gouzer. “The art market feels very close to the spare parts market — good works are hard to find and very expensive.”
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An Andy Warhol portrait of Marilyn Monroe sold for $195 Million last night at a Christie’s charity auction, making it the most expensive American work of art to sell at auction. “We did sell the most expensive painting of the 20th century,” says Christie’s specialist Alex Rotter. “This is a big achievement.”
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