As businesses across all industries cut jobs, citizens are more aware of the way our leaders spend money. You will probably not be able to sell it in a couple of years “If it doesn’t sell privately, at least it’s not a public event,” said Michael Findlay, Acquavella Galleries.įor some buyers, the fanfare of the auction room has also lost some appeal. If your painting is on the cover of an auction catalog and it has been marketed globally and then does not sell, ouch. Most importantly, they avoid the risk of seeing your works flop. A more discreet option, private sales prevent speculation around the motive of the sale. Without the lure of financial guarantees, more and more collectors choose rather to sell privately. As Christie’s and Sotheby’s half-year results demonstrate, today’s sellers seem/may be less attracted by the auction salesroom’s risk and visibility. In the current art market, such rebellious gestures seem unlikely, at least in the short run. Rumors sparked that Murakami and Koons might soon follow suit. For many dealers, it was also another threatening incursion of the auction houses into the primary market. The artist doesn’t make any money, but everyone else does,” he said. “What I find unfair is the Van Gogh thing. According to the artist, it was a more democratic way to sell art, and a gesture against the greed and snobbery that defined the art market’s boom period. Until the recession took over the art market talk, one of the most discussed topics in 2008 was Damien Hirst’s decision to sell brand-new work at auction. Vernissage Art Basel Miami Beach 2008, Courtesy MCH Swiss Exhibition (Basel/Zurich) Ltd.
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