Mia Zuanić

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Africa's art flourishes as the newly wealthy wake up to its value

When one of Nigeria's biggest media moguls began collecting contemporary African art three decades ago, he was one of the few Africans in a niche market dominated by western connoisseurs. But as African art becomes more sought-after globally, that is rapidly changing.<p>"Some of the things I bought …

Enterprising New Yorkers Will Charge You to See the New Banksy

This article is from the archive of our partner .<p>This was bound to happen: If you want to see the new Banksy street art in East New York (part of the …

The €100 Picasso: Paris auction house raffles artwork for charity

Pablo Picasso's masterpieces can fetch millions. On Wednesday night, however, one lucky art lover took possession of an original work – conservatively valued at €1m (£845,000) – for a comparatively modest outlay of €100.<p>L'Homme au Gibus (Man with Opera Hat), a gouache on paper work measuring 30.5cm …

When the bottom fell out of the art market

Ancient and Modern is a tiny contemporary art gallery in east London, on the kind of street where the rows of betting shops and scruffy caffs might blind the uninitiated to its aching trendiness. Three years ago, when the art market was booming, I visited the gallery on the eve of its opening. One …

Qatar Purchases Cézanne’s The Card Players for More Than $250 Million, Highest Price Ever for a Work of Art

With this landmark score, the tiny, oil-rich nation joins a massively exclusive club: only five Card Players exist, and the other four are in world-class collections such as the Musée d’Orsay and the Metropolitan Museum of Art. The purchase is just the latest bid in Qatar’s effort to become an …

'New Era' For Art Markets As Collectors Drop Half A Billion At Christie's Contemporary Sale

It seems that it’s not just the stock market that is firing on all cylinders, breaking record after record. Last week, Christie’s marquee post-War and contemporary art sale fetched a record $495 million, with more than nine works selling for over $10 million. Amid a stagnating global economy and …

Asia Pacific's art market comes of age

This year the Hong Kong International Art Fair was held under the Art Basel brand name for the first time, sending an important message to the art world. After Basel and Miami, the leading western art show has invested in the former British colony. Art dealers, collectors and the merely curious …

Bloomberg Markets - Bloomberg

StanChart's Brice Says Still Risk-On for Asset Markets<p>Steve Brice, chief investment strategist at Standard Chartered Bank, discusses geopolitical …

World record art sales as super-rich snap up Freuds, Koons, and Warhols

Half the world may still be racked by recession and austerity, but nobody told the art collectors. At two sales in New York, buyers have spent more than $1bn (£620m) on postwar and contemporary paintings and sculptures, setting new world records for the most valuable work of art ever sold at …

Art Auctions Are Transparent Markets, In Theory

The obscure and opaque way in which big art galleries set prices is one of the topics tackled this week in Nick Paumgarten’s excellent profile of David Zwirner in The New Yorker. As Paumgarten says:<p>“Auctions, in theory anyway, determine price and possession in accordance with the laws of supply and …

Why Anyone In Their Right Mind Would Pay $142 Million For A Piece Of Art, In One Great Paragraph

We offered up an explanation of how that painting in particular ended up as the new global benchmark.<p>There may be an even simpler explanation: We are now in an era where someone will drop a hundred-million-plus for a painting in general, without much hesitation.<p>In his profile for this week's New …

Art Basel Miami Beach set to capitalise on boom in contemporary art market

It is one of the world’s biggest and most significant art festivals in a city renowned for sun, style and celebrity. Yet when Art Basel Miami Beach opens to the public on Thursday, the popular annual gathering of artists, gallery owners, collectors and dealers will take on an additional role – as a …

How Large Is the Market for a $30m Work of Art? 180 Potential Buyers

While in Miami for Art Basel, the man who runs the Contemporary art department for Christie’s did more than take a victory lap for last month’s …

Selling art online and reaching new markets: 5 tips for artists

The internet offers the visual art market great potential for growth and change. Currently, online sales make up just 1.6% of total global sales, but this is set to change. In the past couple of years millions of dollars have been invested in online sales platforms. In 2013 Artspace received $8.5m …

Budget cuts easing the export of art

You report (The works of art that could not be saved for British collections, 31 January) the "loss" abroad last year of 33,000 works of art and other items of cultural value. This is less serious than it sounds. Most were everyday sales from private collections here to private collections …

What the €100 Picasso raffle teaches us about endangered art all over the world

Congratulations to Jeffrey Gonano, who has won a Picasso valued at €1m for the cost of a €100 raffle ticket. But while the inclusion of a work by the the modern world's greatest artist has drawn attention to a charity auction in aid of the ancient city of Tyre in southern Lebanon, the publicity has …

Book Review Art & Fear - Every Artist Should Read It

The little 134-page book <i>Art & Fear: Observations on the Perils (and Rewards) of Artmaking,</i> written by David Bayles and Ted Orland, is one of those …

Detroit Institute of Arts pieces valued as high as $867 million

Works of art at the Detroit Institute of Art have been valued as high as $867 million in a report from the auction house Christie's that was officially delivered to the city Thursday.<p>The valuation only covers those pieces that were purchased by the city, or roughly 5% of the museum's collection of …

Fine Art

Associated Press News

Foundations pledge $330 million to prevent sale of Detroit museum art

In an attempt to save the Detroit Institute of Arts from being crippled or destroyed by its city's epic bankruptcy, nine local and national charitable foundations have pledged $330 million to spare the museum from having artworks sold to help prop up municipal pensions that are in danger of being …

Fine Art

Disrupting The World's Great Auction Houses

The word “auction” evokes the swift chatter of an auctioneer, the reserved murmurs of a live crowd of spectators and bidder and the smack of a gavel indicating a closed bid. At least it used to. Now, in an age of ecommerce, we tend to think of sites like eBay, with its long bid times and low …

Activist Investor Dan Loeb Tagets Auction House Sotheby’s

In another one of his now-famous “poison pen” letters, activist investor Dan Loeb aims to shake up storied auction house Sotheby’s<p>Most bigtime hedge …

Art at auction: What is in demand in the Russian market? - Russia Beyond

<b>RBTH: How did you get into the auction business?</b><p><b>Catherine McDougall:</b> In our previous lives, my husband and I were financiers. William McDougall led one of the largest investment funds, with about $4 billion in capital, and I worked on the strategy for Russia.<p>We were not dealers and did not sell …

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FORTUNE — Art auctions, the big ones, are like theater in the round, inverted. All the action plays out along the edges, in the phone banks, the players nearly all employees of one of two companies — Christie’s or Sotheby’s, which together control about 98% of the global auction market — …

Norman Rockwell painting bought for record $46m price at Sotheby's auction

A Norman Rockwell painting titled Saying Grace sold Wednesday at a New York City auction for $46m, the highest price ever paid at auction for an American painting, Sotheby's said.<p>The painting had a pre-sale estimate of $15-20m. The $46m price includes a premium. The buyer wasn't disclosed. In 2006, …

Christie's holds first art auction in India

Christie's is holding its first art auction in India on Thursday, aiming to tap into the budding market for prestige purchasing among the country's fast-growing ranks of millionaires.<p>The inaugural sale of 83 lots in Mumbai features paintings from the private collection of one of India's first …

How to spot fake art works: Telegraph goes undercover

Art dealer and historian Philip Mould shows how to detect a fake painting from a real work of art<p><i>The Sunday Telegraph</i> has carried out a special investigation to show how traders on antiques markets are harming the fine art market by selling fake pictures, which they claim are originals.<p>Art dealer …

Art