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Category Archives: Art Valuation

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Experts Believe 19th-Century Painting Estimated At $800 At Auction Could Be An Authentic Rembrandt

Posted in Art Valuation

I came across an intriguing story reported by Artnet about an artwork described as a 19th-century “Continental School” painting and estimated at around $500 to $800 at auction that soared to a closing bid of $870,000 earlier this week fueling discussion that the competing bidders believed it could be an early Rembrandt.  The artwork eventually… Continue Reading

Inaugural Seattle Art Fair A Success With Tech Industry Boost

Posted in Art Valuation, Current Art Exhibits

After this past weekend’s close of the Seattle Art Fair, the Emerald City has been catapulted into the international art scene having been categorized for so long as a regional art center.  Among the more than 11,000 who attended the Seattle Art Fair, Paul Allen, billionaire co-founder of Microsoft and one of Seattle’s major cultural… Continue Reading

Restituted $39 Million Klimt Painting Sold at Sotheby’s London In June Will Be On Display For A Short Time Next Year

Posted in Art Museums, Art Recovery/Theft, Art Valuation

As recently reported by Artnet, there has been quite a bit of speculation surrounding the buyer’s identity of Austrian artist Gustav Klimt’s painting entitled Portrait of Gertrud Loew-Felsövanyi (1902) sold at Sotheby’s London back in June for $39 million.  Recent credible reports confirm that the buyer is British billionaire businessman Joe Lewis, who came into… Continue Reading

Picasso Painting Sets Record At $179.4 Million For Artwork Sold At Auction At Christie’s

Posted in Art Valuation

As recently reported by the New York Times, the spring art auction season continues in full swing in New York this time at Christie’s where Pablo Picasso’s 1955 painting entitled “Les Femmes d’Alger (Version ‘O’)” fetched $179.4 million (including fees) at the auction house’s “Looking Forward to the Past” sale of artworks from the 20th… Continue Reading

Seller Be Ware – Valuable Banksy Mural Inadvertently Sold For Only $174

Posted in Art Finance, Art Recovery/Theft, Art Valuation, Litigation Issues

A valuable Banksy mural entitled the Bomb Damage that appeared on the front door wreckage of a home that was bombed in the Gaza Strip is at the center of an ownership dispute.  According to reports, the work, which depicts Niobe, a Greek goddess who weeps for her dead offspring, was painted by Banksy during… Continue Reading

High-Profile Swiss Art Broker And Businessman Arrested For Alleged Manipulation Of Prices On Art Market In Global Investigation

Posted in Art Valuation, Litigation Issues

As recently reported here, Yves Bouvier, the high-profile Swiss art broker and businessman, who is head of an international art shipping and storage business, was arrested last week in Monaco in connection with alleged fraud relating to works of art.  The investigation that led to Bouvier’s arrest is believed to have centered on the inflation… Continue Reading

Sotheby’s Caravaggio Controversy – Sotheby’s Specialists Prevail

Posted in Art Valuation, Litigation Issues

Sotheby’s UK prevailed recently in a court dispute over an Old Master attribution. At the heart of the dispute was a painting entitled The Cardsharps, which Sotheby’s attributed to a follower of Michelangelo Merisi da Caravaggio (1571-1610) and sold for £42,000 in 2006 on behalf of consignor, Lancelot Thwaytes. Following the 2006 sale, it was… Continue Reading

Picasso’s Granddaughter Privately Selling Art to Finance Philanthropic Projects

Posted in Art Valuation

Marina Picasso, who inherited nearly 10,000 works of art created by Pablo Picasso – including paintings, ceramics, drawings, etchings and sculptures – is bypassing dealers and auction houses to sell the art to “finance and broaden her philanthropy.” The New York Times recently reported that Ms. Picasso “has been regularly selling her grandfather’s works for… Continue Reading

Cézanne Painting Resurfaces On The Art Market For First Time Since 1936

Posted in Art Valuation

As recently reported by ArtNews, renowned Post-Impressionist French painter Paul Cézanne’s Vue sur L’Estaque et Le Château d’If (circa 1883-1885) will be up for auction at Christie’s London at the upcoming Impressionist and modern evening sale on February 4, 2015.  The prized painting’s estimated value is reported to be in the $12.5 million to $18.7 million… Continue Reading

Christie’s Contemporary Art Auction Sets All-Time Record For An Auction

Posted in Art Finance, Art Valuation

Not to be outdone by its rival, Sotheby’s, as reported here, last week Christie’s in New York surpassed its prior record of $745 million set back in May at Christie’s contemporary art auction and brought in the “highest-ever for an auction” at its recent contemporary art auction “grossing $852.9 million across 75 lots.”  Nearly all… Continue Reading

Sotheby’s Fall Impressionist And Modern Auction Is A Success Setting Record High Of $422M In Sales

Posted in Art Finance, Art Valuation

Earlier this week Sotheby’s opened the fall auction season with an impressive record high of $422 million in sales in a single auction for the world’s fourth oldest auction house in continuous operation. As reported here, of the 73 lots up for auction, 15 lots did not sell, hence the average sell-through rate of 79… Continue Reading

Skate’s Releases Inaugural Masterpieces Market Report for Fall 2014

Posted in Art Finance, Art Valuation

This week Skate’s LLC, often referred to as one of the world’s leading art investment firms, released its inaugural Masterpieces Market Report for the third quarter of 2014.  If you haven’t already noticed from my previous posts on Skate’s publications, I am a frequent reader and admirer of Skate’s various reports, which I personally find… Continue Reading

Esteemed 20th Century Private Art Collection Expected To Fetch In Excess Of $85 Million At Sotheby’s Fall Auctions

Posted in Art Valuation

In a recent announcement by Sotheby’s earlier this week, a significant collection of modern and contemporary art compiled by two of the 20th century’s most renowned collectors is expected to generate in excess of $85 million in sales during Sotheby’s upcoming contemporary and modern art auctions next month. As recently reported here, some of the prized… Continue Reading

A Unique Blend Of Artist Collective And Hedge Fund To Benefit Artists From Around The World

Posted in Art Finance, Art Valuation

A fascinating article on Bloomberg.com recently highlighted the globally based Artist Pension Trust (APT), which is claimed to hold the largest global collection of contemporary art, including 10,000 contributed artworks from 2,000 artists in 75 different countries.  APT offers artists a unique blend of artist collective and hedge fund. Launched ten years ago by high-tech… Continue Reading

New Expert Appraisal Reveals That The Detroit Institute Of Arts’ World-Class Collection Could Be Worth In The Multi-Billions

Posted in Art Valuation, Litigation Issues

Having grown up in Michigan as a young child, I fondly recall a number of visits I made to the Detroit Institute of Arts (DIA) as well as to the Toledo Museum of Art (TMA) with my family.  I felt so fortunate to live in relatively close proximity to such two world-class art institutions in the… Continue Reading

New York’s Postwar and Contemporary Art Auctions Raise An Unprecedented $1.6 Billion

Posted in Art Valuation

According to a recent New York Times article, contemporary art is outpacing Impressionist and modern art at the major auction houses. Old Masters and 19th-century painters have “fallen out of fashion with the majority of art buyers”, while postwar and contemporary art generated a combined $1.6 billion at Sotheby’s, Christie’s and Phillips’s recent art auctions.… Continue Reading

Koons and Warhol Art Fetch in the Multi-Millions at Sotheby’s Recent Evening Auction

Posted in Art Valuation

According to this recent report, Andy Warhol’s highly sought after “Six Self Portraits” and Jeff Koons’ shiny and reflective statue of “Popeye” were auctioned off for the first time last Wednesday evening at Sotheby’s in New York.  With a starting bid of $23,000,000, the Warhol work quickly fetched $30,125,000 in three minutes and 15 seconds. … Continue Reading

Skate’s Unveils Its Art Industry Scorecard 2013 in Part 2 of Skate’s Annual Art Investment Report for 2013

Posted in Art Finance, Art Valuation

In Part 2 of Skate’s Annual Art Investment Report for 2013, Skate’s Art Market Research reveals its Art Industry Scorecard 2013, a unique art industry rating created by Skate’s in 2012.  The companies selected for the recently developed rating participate in the art industry either through a significant part of their activities or have an… Continue Reading

Detroit’s DIA Thriving – Attendance Up Since Bankruptcy Filing

Posted in Art Museums, Art Valuation, Litigation Issues

In a previous post, I wondered if attendance was up at the Detroit Institute of Arts (DIA) since news of Detroit’s bankruptcy filing broke. Indeed, according to a recent report, attendance has doubled over the last year with nearly 600,000 visitors coming to the museum to see firsthand the renowned collection. Further, in recent news, the court… Continue Reading

Update – Sotheby’s Fetches $13M USD for Esmerian Collection of Folk Art

Posted in Art Finance, Art Valuation, Litigation Issues

Last month, Sotheby’s sold the art collection of former jeweler to the stars, art collector and former chairman of the Folk Art Museum in New York City, Ralph O. Esmerian.  Fetching $13M USD, the sale has been reported to be the highest for any American folk art collection.  As reported in a previous blog post, Esmerian… Continue Reading

Skate’s Annual Art Investment Report For 2013 Explores Most Significant Trends In Commercial Art World

Posted in Art Valuation

With the much anticipated recent release of Skate’s Annual Art Investment Report for 2013 – Part 1, Skate’s Art Market Research analyzes the art market’s top segment through its proprietary rating, referred to as Skate’s Top 5000, which includes the 5,000 most valuable artworks sold at public auctions throughout the world over the past nearly… Continue Reading