『•』Windows on the (Art) World 📊 About this IG post on #buren an in situ installation that I would have seen on the beaches of Deauville this summer, I remind my Parisian friends of the sale at @sotheby ‘s tonight – including this installation – near the Palais de l’Elysée. The very beautiful artworks in Marianne and Pierre Nahon’s collection will, I am sure, surprise us with some surprises. Collector friends who are following me closely, maybe we will see each other tonight on site otherwise there will also be online sales 👌 Look at it and, better still, bid ! Some of these works will most certainly leave quickly to Asia & Museums. In my recent post on pretty umbrellas 🧡, I mentioned a transformation of sales on the secondary market in London at the beginning of this year. A semblance of shyness or… caution. In fact, when I compare London sales in early 2019 with Sotheby’s, Phillips and Christie’s’s upside results in New York at the end of 2018 between the ADAA Art Show and the Armory Show, I start to think that the contemporary & modern art market is in balance. Even if there will still be exceptional collection sales or a very beautiful and sought-after work. What I see is that many sales are now administered with third-party guarantees that greatly reduce risk. Note however that as with the Nahmad family who just seized a painting by Lucio Fontana for $587,844 👌 when there is no guarantee and a reduced reserve, there are also great opportunities to buy well below the estimate…;) I also see positioning in the Houses appear. I recently spoke about the management of “Estate”, i.e. the management (foundation, exhibition, sales…) of the works of a deceased artist. This “market”, initially and naturally covered by art galleries – in direct contact with the artists’ family – gives a new legitimacy to the commitment of a House that is interested in it. The obvious added value for a gallery and an auction house is the trust that heritage traceability brings to the authenticity and therefore the value of a work. Other strategies are still developing, such as at Christie’s, where major changes in modern & contemporary departments have just taken place. I will come back to this later. Regarding this post and tonight’s sale, I really like Sotheby’s bold positioning in the market with new names #noahdavis #loiehollowell – among others… – and a radical change in institutional support for artists beginning to be felt in the market with the success of some female artists and artists of colour. it is the natural way by which quarries and then markets develop….To follow. Cheers 😘 🔸🔹🔸

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