Artmarket.com: auctions provide buoyancy for arts and culture industry disrupted by pandemic
January... Old Masters month
With a 10% fall in turnover in 2020, the Old Masters (artists born before 1760) segment appears to have better withstood the impacts of the pandemic than other segments. This is probably due to the fact that a substantial proportion of the year's sales the Old Masters segment represents a remarkably solid market.
"Old Master collectors are looking for the 'right piece' rather than the thrill of the moment," observes thierry Ehrmann, President and Founder of
The battle to acquire the Portrait of a young man holding a roundel, attributed to Botticelli, ultimately brought together just two collectors. But these two determined bidders raised the price of the work to Sotheby's very audacious estimate in the midst of a global pandemic. Announced in
The British capital usually hosts the year's second round of major sales. In
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The Splash (1966) by
David Hockney -
A la rencontre du plaisir (1962) by
René Magritte -
Portrait of
Marjorie Ferry (1932) byTamara De Lempicka
But the health crisis has led to the postponement of
The French capital is also continuing to attract more and more top talent from the Art Market. Since the beginning of the year, two of
The next few weeks promise to be exciting on the art market, both at auctions and in art galleries... some reassuring news ahead of the reopening of museums in
1 Julia Jacobs, Is Seeing That Renoir Essential? In the Pandemic, Cities Differ, The New York Times,
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