Online auction site eBay is attempting a second foray into the world of live online art sales, a second venture outside its upcoming collaboration with Sotheby’s.  The new site is open to a select group of New York art galleries, and allow live bidding on works from around the world. (more…)

Amedeo Modigliani’s seminal sculpture Tête will be offered at Sotheby’s New York this November, a rare work in stone from the Italian Modernist, that is expected to achieve up to $45 million during the sale.  ‘‘Modigliani’s Têtes rank among the most revered sculptures of the 20th century,” says Simon Shaw, Co-Head of Sotheby’s Worldwide Impressionist & Modern Art Department. “Working alongside Constantin Brancusi, he believed that direct carving and staying true to materials were critical if sculpture was to be reborn for the Modern age. The present Tête has a truly mesmerizing aura, and is recognized to be the greatest Modigliani sculpture in private hands.’’  (more…)

An iconic still life by Vincent Van Gogh, painted only a few years before the end of the artist’s life, is anticipated to sell for $30 to $50 million at Sotheby’s in New York this November, a figure that indicates strong competition for the work.  The piece could very well see fierce bidding to break the artist’s record of $82.5 million, set in 1990.  (more…)

Christie’s has added a new fee to its auction sales this month, a 2% performance fee that rewards sales far exceeding pre-sale estimates.  “The purpose is to incentivize and reward high performance that exceeds consignors’ expectations,” says Christie’s head of communications Paddy Feeny.  (more…)

The Guardian visits Tracey Emin in her Spitalfields studio this week, as the artist prepares for an exhibition of new work next month at White Cube.  “Work is good,” she says.  “If I don’t make things, I become ill and depressed. Painting makes me feel like a better human being. It’s what I’m supposed to be doing.”  (more…)

Sotheby’s has unveiled a new plan to appeal to collectors and institutions on the West Coast, announcing a new plan that will bring $200 million worth of art on a tour of California, Oregon and Washington.  The tour of events will include an exhibition of Jasper Johns’s 1983 work Flag, which is a highlight of the auction house’s November sale in New York, estimated to sell for $15 to $20 million.  “Our focus is on the next generation of collectors, the new buyers who will become futures sellers,” says Sotheby’s West Coast head Andrea Fiuczynski. (more…)

Phillips  has announced plans to open its first location in Hong Kong, an expansion that sees the company living up to claims that it wants to be more aggressive in the current market.  “We are going to do our best to align Phillips with these new contemporary art movements worldwide,” says recently appointed CEO Edward Dolman.  (more…)

Just as Sotheby’s is preparing its first pop-up sale in Silicon Valley, rival Christie’s has also entered the fray, announcing a similar event in California focused on works by Roy Lichtenstein, Jasper Johns, and more, alongside works by young artists including Korakrit Arunanondchai. “While it is well known that the Bay Area is home to some of the most impressive collections in private hands, it has recently become evident that it is also one of the most robust emerging markets for art collecting with a growing group of young and new collectors,” says Christie’s Post-War specialist Charlie Adamski. (more…)

The Telegraph profiles Christie’s upcoming London sale of works from the Essl Collection, Austria’s largest private collection of contemporary works.  The sale, featuring pieces by Gerhard Richter, Paul McCarthy, Louise Bourgeois, and Alighiero Boetti, is estimated to bring in up to £60 million next month, making it the most valuable sale of a single collection in auction history.   (more…)

The New York Times spotlights Phillips new flagship location in London, and the auction house’s renewed efforts to challenge the duopoly between Sotheby’s and Christie’s at the highest end of the secondary market.  “It’s a statement of intent,” says Phillips’s new chair Edward Dolman.  “This gives us the best space for viewing contemporary art in London. It’s potentially a game changer.” (more…)

Former auction house leader Simon de Pury is returning to the art world this month, with his first gallery show since leaving Phillips de Pury & Company (now Phillips) in 2012.  The exhibition, at Venus Over Manhattan, is titled Fire!, and features primarily ceramic and glass sculpture.  “It’s interesting to note that in the middle of a technological revolution, there is this strong resurgence of ceramics and glass, but also textiles,” de Pury says. (more…)

A considerable proportion of the over 7,000 works from the Essl Collection will go to the auction block this October in London, worth an estimated €160 million ($211 million) in total.  The works, which will sell at both Christie’s and Sotheby’s, include iconic pieces by Gerhard Richter, Martin Kippenberger, and Georg Baselitz, among others.   (more…)

The New York Times continues its thorough investigations into the contemporary art and auction markets, noting struggling stock prices for Sotheby’s and mammoth Chinese auction house Poly Culture Group Corporation, and the statistical dissonances in the claims of auction houses trumpeting a new golden age for the market.  “There’s a feeling among financial analysts that the valuations of art-related companies are peaking,” says Fabian Bocart of Tutela Capital. “These valuations are based on expected volumes at auction. Very expensive items have almost no impact.” (more…)

A study commissioned by the New York Times this week indicates that the perception of a growing trend towards flipping work by young artists for huge profits may only be part of broader historical trends in the art market.  Reports by two separate art market consultancies indicate that the current rate of growth in the market is on par with the market boom during the mid-90’s, and that the overall state of the market shows that collectors are, on average, holding on to works longer than in recent years.  “After all I had read about flipping, when looking at the market itself, it’s really business as usual,” says consultant Fabian Bocart, whose Tutela Capital S.A., prepared one of the analyses for The Times. (more…)

This is Money, the financial news site for the UK’s Daily Mail, reports that Poly Culture, China’s largest auction house, is a likely candidate to acquire Bohhams. The current controllers, chairman Robert Brooks and collector Evert Louwman, began looking for a buyer earlier this year for the auction house, which is perhaps best-known for its sales of vintage and antique cars.  (more…)

The New York Times reports on the controversial decision made by the Delaware Art Museum to put two pieces up for sale. The first is “Milking Time” (1875), a painting by Winslow Homer, will be sold at a Sotheby’s auction this fall or possibly sooner, if the museum can find a private buyer. An Alexander Calder mobile titled “The Black Crescent” will also be put up for sale. In hopes of clearing some of its $19.8 million debt, the museum has already sold a William Holman Hunt canvas this past spring, a decision for which it received censure from other institutions and the Association of American Art Directors.  (more…)

A collection of photographs formerly owned by the late Howard Stein will head to auction later this year at Sotheby’s New York, in what may be one of the largest sales in the medium ever.  The presale estimates range from $13 million to $20 million for a group of works that include prints from Alfred Stieglitz, Man Ray and Irving Penn.  (more…)

Christie’s will auction Manet’s iconic Le Printemps (1881) this fall at its Impressionist and Modern sale in New York, the New York Times announced today.  The 1881 portrait has remained in the same family for over a century, and is estimated at $25 to $35 million.  “We’ve given museums advance notice,” says Impressionist and Modern Director Adrien Meyer. (more…)

Phillips Auctioneers has appointed Edward Dolman as its new chairman and chief executive officer. Dolman comes to Phillips after three years as the executive director and acting chief executive of the Qatar Museums Authority in addition to 27 years working at Christie’s, during which time he rose to the rank of chairman and CEO. As chairman of Phillips, Dolman follows in the steps of Simon de Pury, who left the position in late 2012 after selling control of the auction house to the Mercury Group, a Russian luxury goods distributor. With the help of funding from the Mercury Group, Dolman plans to recruit talent that will help Phillips prosper as it relocates to new, large headquarters in London.  (more…)

An article in the New York Times reports on a recent wave of high-profile announcements from some of the world’s most prominent auction houses in attempt to gain the upper hand in the upcoming fall sale season. Among these announcements is the news that Sotheby’s will partner with eBay while Christie’s will expand with a house in Shanghai and Phillips de Pury will unveil a impressive new space in Mayfair. While these announcements might project an attractive appearance of prosperity and growth, the article contrasts them against the inherent instability of public sales, comparing the auction market to a “Baked Alaska dessert — firm and shiny on the top, but soft in the middle and on the bottom.” (more…)

A recent Bloomberg article features an examination of the direct correlation between value appreciation and the price of pieces at auction. By studying the auction sales of the top ten artists over the past ten and twenty years, the article suggests that, in the ever-shifting art market, the safest way to ensure a profit is to buy big names like Cy Twombly, Gerhard Richter, and Damien Hirst at big prices.

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Auction Houses are placing an increased emphasis on pre-20th century art and other objects, in an effort to further expand the thriving auction markets.  Offering variety shows that present top works from a variety of areas and cultures, the auctions are designed to encourage top bidders by focusing sales.  “If the auction houses pick their 50 or so best objects, then their top buyers don’t have to sift through several sales,” says Stuart Lochhead, director of Daniel Katz Ltd. “People are less connoisseurial these days. Finance people are always rushing. They have so little time.” (more…)

The case for artist resale royalties in the United States is gaining strength in Congress, as the bill proposing the measure has earned six co-signers in the past weeks.  “We’re optimistic—the pace over the past month seems to have picked up,” says Ted Feder, the president of the Artists Rights Society.  (more…)

Bloomberg examines the record sale of Tracey Emin’s My Bed at Christie’s this past month, and notes its success as part of a growing trend towards higher prices for female artists on the secondary market. “Historical corrections are in vogue,” says  former Christie’s exec Amy Cappellazzo. “There are more women artists who are getting their due.” (more…)