Tag Archives: art market
A man wanders an empty art gallery.

The Art Market is Shrinking

Last year, sales at Sotheby’s and Christie’s were booming: combined, the two auction houses brought in over a billion dollars. This year, the two have only raised a total of $560.6 million, a far cry from where they stood last May. And the $78.1 million raised by Christie’s pales in comparison to the $705.9 million […]

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An auction gavel resting on a pile of American currency.

Auction Season Heating Up in New York

Some of the biggest auction houses are gearing up for tremendous sales. Both Sotheby’s and Christie’s auction houses have seen their stocks rise and rise; their total sales clocked in at about $7 billion each in 2014. Earlier this year, Christie’s auctioned off a Picasso piece for a record-breaking $179 million, the largest sale ever. […]

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