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…)

Sotheby’s is laying off staff as a result of its current operational overhaul, following the conclusion of its fierce battle with investor Daniel Loeb.  “As part of a long-range planning process begun earlier this year, Sotheby’s has identified areas for growth and additional investment,” the company said in a statement last week.  “To capture these opportunities in an ever-evolving business, the company has decided to reallocate staff and resources.” (more…)

Sotheby’s has announced a partnership with online auction giant eBay, with the aim of offering easy access to streaming coverage of the auction house’s sales worldwide, and to broaden the company’s reach beyond its traditional buyer pool.   “Even if we only reach point 1 percent of eBay users, that’s huge for us,” says Sotheby’s COO Bruno Vinciguerra. “The point is to make our sales more accessible to the broadest possible audience around the world, all the while remaining totally committed to our high end.” (more…)

The New York Times has published another survey on the contemporary auction market, focusing on the gradual concentration of collectors at the highest tiers of art collecting towards blue-chip artists and trusted names, making competition for these works all the more fierce, and the prices that much higher.  “The sleepy days of collecting are over,” says Amy Cappellazzo of the New York-based Partners agency. “The wealthiest of the wealthy now view art as an alternative currency. It’s become a very big business.” (more…)

A recent Wall Street Journal interview with Agnes Gund reveals the former MoMA President’s views on the current state of the art world, and its movement towards greater accessibility and access.  “The market will start to correct as more collectors, in it for the game, will drive the prices of women artists up as will buyers recognizing the talent that has been there all along,” she says. (more…)

Sotheby’s has announced that it will be auctioning off the estate of collectors Paul and Bunny Mellon, including a number of impressive artworks by Mark Rothko and Richard Diebenkorn from the couple’s extensive collection.  Proceeds from the auction will benefit the Gerald B. Lambert Foundation. (more…)

Francis Bacon, Three Studies for Portrait of George Dyer, via Sotheby’s

The sales have closed at Sotheby’s and another week of Contemporary Art Sales are underway in London.  The evening’s sales performed well above estimate, bringing in a final sales tally of $159 million for 51 of the 59 available lots. (more…)

A recent Financial Times article notes the continually shifting state of the contemporary art market, and the changes in gallery representation, points of sale, and dominant art buying countries that are currently shaking up the art world and in correlation, notes the skyrocketing rents felt by many galleries in hot art neighborhoods like New York’s Chelsea and Mayfair in London.  (more…)

Francis Bacon, Study for Head of Lucian Freud, at Christie’s

Following the Impressionist and Modern sales in London last week, the British arms of the major auction houses will open their doors once again for a series of Contemporary sales this week, bringing the spring art season to a close with one last set of high-profile sales evenings.

Peter Doig, Country-Rock (Wing-Mirror) via Sotheby’s  (more…)