Gladstone & Luxembourg Art Collections at Sotheby’s Auction
Sotheby's to auction art collections from Gladstone and Luxembourg, featuring Warhol, Prince, Fontana and Pistoletto. Sales reflect confidence amidst economic uncertainty.
Basquiat’s ‘Baby Boom’ at Christie’s: $20M-$30M Estimate
Jean-Michel Basquiat's 'Baby Boom' (1982), a stylized family picture painting, heads Christie's 21st-century sale with a $20M-$30M estimate. Formerly owned by Peter Brant, it references post-WWII birthrates.
âOne auction house will fold, as will more fairsâ: experts give their art market 2025 predictions
Where there will be room for improvement is in the middle market, where current geo-political issues, the slowing down of Asian engagement and the tightening of belts in Europe has led to a softening of prices and lower sell-through rates of the day sales at the major auction houses.
Gen X are the biggest spenders on art as ‘speculative’ millennials drop back, latest UBS/Art Basel survey finds
She identifies the high end of the market, "which was so pivotal in driving sales out of contraction in 2020", as thinning out considerably, "creating a drag on growth despite more positive performance in some other lower-priced segments."
Pricking the art market bubble?
However, Michael Macauley, Sotheby's head of contemporary art in Europe, says: âWatch this space, we are expecting more to come in before the sale.â The top lot is David Hockneyâs 1968 painting from the south of France, LâArbois, Sainte-Maxime (1968) with an almost Ruscha-esque vibe to the depiction of a building with large umbrella pines in the foreground.