New Zealand Shelves Artist Resale Royalty Plans

News came in this week that the New Zealand government has shelved plans to introduce a resale royalty similar to the scheme which looks set to be introduced in Australia on the 1st of July this year. According to the New Zealand government website “In March 2009 the...

Single Owner Art Auctions Defy Downturn

Over the last few months I have noticed a particularly interesting trend emerge that says a lot about the way people perceive, and are approaching, the art market. There have been quite a few auctions of single owner collections in recent months most of which have achieved...

Rarity is Driving the Art Market

One of the trends that has emerged since the art market began to soften is the increased desirability of works of art that that have not appeared at auction for a long period of time or have never appeared at auction. Such works are usually given the term “fresh to...

Mei Moses Art Market Index Update

A tracking report on the year-to-date value of the Mei Moses All Art Index has been issued by Beautiful Asset Advisors. According to the fall art market insight report, as of 10/31/2008, the value of the index was 270.58** which, as one would expect, is down on the 2007 year...

Milan Contemporary Art Sale Success

In a market where a majority of the major art auctions being held since the beginning of the financial crisis are experiencing far from positive results it is important to be aware that there are still many promising signs of art market resilience. One such sign is the Milan...

Next Star Artist Update

Next Star Artist Update It’s been a while since I posted an update on Herb Williams who won the inaugural Next Star Artist competition so here’s the latest goss. The most exciting news is that Herb was chosen to create the album cover for the mega popular rock band The...

The Price and Value of Contemporary Art

The problem with the market for contemporary art is that the perceived value of the work by a contemporary artist (especially emerging artists) is often reliant on someone taking the risk of backing that artist which then adds credibility to their work thus prompting other...

Defining Art Market Movements

Regardless of whether you hear that the art market is just undergoing a correction or is experiencing a full blown crash you can take comfort in the fact that the terminology used to describe the current state of the art market really makes no difference. For starters, there...