Author Archives
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Sotheby’s and Third Point reach agreement
Sotheby’s and Third Point LLC today announced that they have reached an agreement, putting an end to the increasingly bitter conflict that has waged in recent weeks. Pursuant to the agreement, the Sotheby’s board of directors has been expanded, and… Read More ›
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Christie’s pledges $20 million for digital engagement
Christie’s is to invest in the region of $20 million in its technological and digital advancement including infrastructure improvements, enhanced client-service experience and creative-content and media-driven endeavours. The move was announced by Christie’s chief executive officer, Steven Murphy, during a… Read More ›
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UK sales lead soaring global art market
In the first quarter of this year, the global fine art market increased 37% by value sold, jumping from US$1.6 billion in Q1 2013 to reach over US$2.2 billion this year. This increase was in large part due to an… Read More ›
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Is your collection at risk from flood damage?
The insurance market used to provide broad coverage for the peril of flood with little to no deductibles. However, after seeing losses from Superstorm Sandy and other storms, flood coverage is much more restricted in fine art and other policies,… Read More ›
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The legalities of art investment: do your homework
Art investors should exercise the same level of caution and attention to detail when negotiating an art purchase that they would put into buying real estate – yet often they fail to put all the necessary safeguards in place. That… Read More ›
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Loeb and Sotheby’s prepare for final showdown
In the latest development in the hostilities between Sotheby’s board and hedge fund manager Daniel Loeb, who nominated himself and two colleagues for Sotheby’s board at a vote due to take place on May 6, two independent proxy advisory firms… Read More ›
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Auctionata online auction house plans New York expansion
Berlin-based online art and auction house Auctionata (www.auctionata.com) aims to expand its operations to New York this autumn now that it has secured €21.5 million (US $30 million) in the course of a second funding round from the existing investors,… Read More ›
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Healthy Impressionist and Contemporary sales boost Sotheby’s results
Net auction sales have increased by 40% from the prior year to approximately $730 million according to Sotheby’s preliminary, unaudited financial results for the first quarter ended March 31 2014. This substantial improvement is primarily due to a $113 million,… Read More ›
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Christie’s hones Japan and Korea strategy
After the successful sales of Japanese and Korean art during Asian Art Week this March, Christie’s has announced that its Japanese and Korean art department will focus on tightly curated theme sales, both online and at auction in New York… Read More ›