Billionaire estate liquidations are now the primary driver of high value auction sales. This heavy reliance on deceased trophy collectors hides a broader slowdown in the wider art market.
The spring art market bounced back with $3.1 billion in sales, but this recovery is heavily propped up by financial safety nets. A record-breaking 78% of New York Evening Sales value was backed by guarantees…
The SEC has launched a sweeping investigation into platforms offering fractional art ownership to determine if their digital shares constitute unregistered securities.
Damien Hirst just mapped out 200 years of posthumous art releases, turning his legacy into a factory for future masterpieces. The strategy could upend long-held assumptions about scarcity and value in…
Sotheby’s May 21 sale of 55 Old Master works from the Saunders collection brought in $64.7 million, far below the $80-$120 million estimate. With nearly half the lots unsold and all works backed by guarantees,…