Chinese Art Prices Show Signs of Stabilizing - 10-06-2009

At the Christie’s Hong Kong spring auctions, also last month, 34 of 38 lots offered in an evening sale of Asian contemporary and Chinese 20th-century art sold for a total $19.9 million, more than double the low end of the pre-sale estimate — which was pitched conservatively to avoid scaring off possible bidders. New York Times

Hammer Horror - 01-06-2009

Art is in a pickle, and this time it’s not the latest Damien Hirst creation. The global art market, which includes auctions and private sales, grew 95% from 2002 to 2006, hitting a high of €48.1bn, according to Dublin-based researcher Art Economics. Last November it all tanked. At that month’s auctions in New York, Christie’s and Sotheby’s ran up $63m in losses from guarantees they had given on artworks that didn’t sell. CNBC Business

Record Attendance and Strong Sales Buck Recessionary Art Market Trends - 08-05-2009

The 16th annual International Fine Art Fair from 1st-5th May at the Park Avenue Armory, Park Avenue at 67th Street, New York City proved that while the world’s economy is in fragile shape, the art market remains remarkably resilient. Artdaily.org