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art market news

Rare M.F. Husain Paintings are back at Auction After Court Nod

Twenty-five rare paintings by legendary Indian artist Maqbool Fida Husain are set to go under the hammer on June 12, following approval from the Bombay High Court. The artworks, part of Husain’s ambitious but incomplete ‘Our Planet Called Earth’ (OPCE) series, have been locked away in bank vaults for years due to a complex financial

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Sotheby’s Hong Kong Just Sold a 700-Year-Old Handscroll for $32 Million

postscripts Courtesy - Hyperallergic

An Ancient Chinese Scroll Was the Star of Sotheby’s Hong Kong’s Recent Auction The recent Sotheby’s Hong Kong will go down in history! Why, you ask? It is because a rare, 700-year-old scroll by famous calligrapher Rao Jie sold for over $32 million following a 95-minute heated bidding war. The presale estimates suggested that the

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Here’s What Sold at Art Basel Hong Kong 2025—and for How Much

Art Basel Hong Kong Sales Report 2025 The much-awaited and delightfully disruptive Art Basel Hong Kong 2025 has finally wrapped up. While the event was indeed spectacular, it gave us a clearer understanding of the entire event, especially with its humungous sales records. Numerous galleries, museums, and collection houses have reported seven-figure sales according to

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Christie’s Experienced a 6% Decline in 2024’s Annual Sale

Paris Wrap report Oct 2023 3520

Christie’s Declining Annual Sales 2024 marks another year in a row for Christie’s declining annual sales, when the auction house announced its projected results on Tuesday, December 17. Since a few sales are yet to be final, all the totals shared are mere estimates. In total, Christie’s generated $5.7 billion this year from live, online,

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Art Market Sees Signs of Recovery in Final Quarter of 2024

Art Market

The global art market showed encouraging signs of recovery in the final quarter of 2024, following a turbulent year marked by economic uncertainty and reduced collector spending. According to data from major auction houses reported by the Financial Times, total sales for the year were down by 33%, reflecting a challenging environment for the industry.

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Reports Suggest: Visual Artists are Among the Lowest Earners of all Workers in the Creative Industries in the UK

A new report by the University of Glasgow has just revealed the financial plight of visual artists in the UK, with disturbing income disparities and systemic inequalities across demographics. The study, called the “UK Visual Artists’ Earnings and Contracts Report 2024,” found that the average annual earnings of artists have plummeted to just $15,600, a

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Trump’s Victory Casts Uncertainty Over Art Market Amid Buyer-Friendly Conditions: Bank of America Report

Introduction The global art market is seeing a shift towards favorable buying conditions, according to a new report by Bank of America. Titled “Art Market Update Fall 2024: Opportunity Knocks?”, the report suggests that collectors can expect improved opportunities thanks to factors such as reduced auction estimates, gallery discounts, and interest rate cuts. Upcoming events,

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