Miami New Times’ Post

Creating an effective (and attractive) marketplace for secondhand art puts power back in the hands of art collectors. With a marketplace model, sellers choose the terms and control the sale - this proposition is a competitive advantage in an industry suffering from little innovation. Big questions remain: how can we tackle the stigma surrounding secondhand marketplaces? Can we establish ourselves as fixtures in the art trade comparable to secondhand platforms in adjacent markets, like luxury? - In this feature we talk about the measurability of personal taste in art consumer behaviour, trend forecasting among Singaporean collectors, and our community-building efforts. Thank you Carlos Yang Shuen Keng for the lovely interview. Cover image artwork: https://lnkd.in/gJYidHfK

🅾️ Art & Algorithms: From Glitter to Glitches - Unmasking the Stark Reality Behind NY's $1.4 Billion Art Extravaganza! Fresh off the vibrant spring art auctions in New York, where a whopping $1.4 billion exchanged hands amidst glittering receptions and fierce bidding wars, it's evident that the art world isn't just about aesthetics; it's increasingly about adapting to new digital realities Amid this glamor, Christie's faced a formidable challenge: a major cyberattack, proving that today's art market battles are fought just as much in the digital realm as in the hallowed auction halls The raw and riveting lessons from this saga? 1 The art world is a risky venture without a savvy advisor by your side.While the ultra-rich may set the pace, a hacker's whim can also sway the rhythm 2 Digital transformation is a double-edged sword, shattering traditional secrecy. Our forays into the virtual come with risks as great as the opportunities 3 The market is volatile, driven by emotion, steeped in caution, and ripe for cautious speculation. Now is the time to bet on hidden treasures 4 The fate of each masterpiece auctioned reflects the overall mood of the market—both tense and calculated As we approach another major auction season amid political uncertainties, how should we recalibrate our strategies in this ever-evolving landscape? #ArtMarket #EconomicDrama #LuxuryAuctions #sotheby #christies #nyartweek https://lnkd.in/g5Dv4K4s

Here's the punchline... Harry Potter & The Philosopher's Stone original cover art just sold for $1,920,000! 19 times return for the previous owner. As a collector, I focus on emerging markets - brands and categories born in the last 25 years, originally targeting younger people who are now adults with access, proximity and influence over money. My collecting objective is a 10X return over a 10 year investment time horizon. Harry Potter is a great example of an emerging collectible brand. First published in 1997 (UK) as a children's book series, the intended consumer was 8-13 years old... Today that same human is age 35-40 with access, proximity, influence over capital, extreme fandom, a deep belief in alternative investments (collectibles) as a means of further portfolio diversification (from traditional investments). As a Potter collector, I watched this Sotheby's auction closely. In 2021, I purchased the most pristine known copy of the Harry Potter Philosopher's Stone 1st edition, 1st print UK edition (1997). There were only 500 hardcover copies ever printed, and most went to UK libraries. Maybe 100 copies weren't thrashed. Of those 100, most went to avid readers and kids - which is exactly what should have happened! In vintage collectibles, condition matters more than anything, even in extreme scarcity, as a further measure to stratify valuation. So what's the punchline. 1) Collectibles as alternative assets are real. 2) There is a collecting strategy for emerging markets. It takes a keen eye. If you see meaningful pricing movement on a 10-15 year old brand, you could see 25-1000X return from that point. 3) I encourage you to take the adult collector seriously, and to recognize that the now largest segment in the toy industry will only increase in influence over time. 4) Study, study, study, study and focus on areas where you have a specific passion. If you love music, historically relevant instruments, sheet music, original handwritten works. Start by studying the most valuable items (grails) in those categories - and work your way down. If you love something, you'll inherently understand the collectible market around that category. 5) This is my opinion, not a promise. One last note. Is 1000X on a collectible asset possible? In 1999, a Topps 1952 Mickey Mantle PSA 10 (pop 3) rookie card sold for $125,000. In 2024, that same card would sell for $50 million. 500X. And, yes, it's unusual. What other areas of emerging collectibles am I investing? Original sealed Apple product, PSA 10 vintage TCG, original comic artwork, and don't underestimate brands like Hunger Games, Twilight, Roblox and more. These brands changed the world for your kids. Here's to collecting... and here's to understanding and respecting the minds of collectors. ❤️

Strategic assembly of artworks, when done meticulously, transcends the value of individual pieces. #art #artcollecting #artinvesting https://lnkd.in/ej_ZNQwq

Galleries reconnect with established artists as ultra-contemporary declines. Two years ago, ultra-contemporary art, created by artists under 40, dominated the market, with high demand at Frieze for emerging names like Flora Yukhnovich. However, in 2023, auction sales for many of these artists plummeted—Yukhnovich’s dropped 88%, and overall sales for ultra-contemporary artists fell by 43%. This downward trend continued in 2024, with a 53% decline in the first half of the year. As ultra-contemporary art struggles, established artists have returned to the spotlight. At Frieze Masters 2024, historical pieces saw strong sales, with Hauser & Wirth moving works on paper by Charles Gaines for $175,000 to $195,000 each. At Gagosian, nine sculptures by Carol Bove sold for $850,000 apiece within hours of the fair opening, while David Zwirner reported total sales of $4.6 million on the first day, including a Lisa Yuskavage painting that sold for $2.2 million. Larger galleries have shifted focus toward tried-and-tested names, with more established artists commanding higher prices amid a market adjusting to more cautious buying trends. As buyers shift focus, the influence of Paris and economic factors like Brexit are also reshaping the art market landscape. Some American collectors opt for fairs in Paris over London, underscoring the shifting dynamics in the art world. #artcollecting #artexhibition #artmuseum #artinvesting #artinvestment #artcollector #artnews #artworld #artmarket #artmarketnews #artauction #arthistory #worldrecord #modernart #impressionism #postwar #frieze #artbasel #london #paris https://lnkd.in/erTxfdtY

Some may rightfully be confused by the variation in notation of auction prices. Auction houses, on their websites, publish prices that include the buyer’s premium, though their pre-sale estimates do not account for the buyer’s premium. The art press usually refers to premium prices, and appropriately specifies them as such. Artnet, one of the major databases for recording auction prices, only publishes the price including buyer’s premium, unless (typically for smaller auction houses and/or older sales) they publish only the hammer price — in either case specified accordingly. Another major auction price database, Artprice, typically publishes both the hammer price and the price including buyer’s premium, respectively specified as such. This may be most instructive to many, myself included. Read the rest of the blog post here:

artnet’s Intelligence Report is out. Fascinating findings on last year’s art market performance and trends. https://bit.ly/3JkeoPF #FineArtMarket #ArtMarket #FineArt 

Collectors may choose to buy artwork at auctions for several compelling reasons: Unique Opportunities: Auctions provide a platform for acquiring unique and rare pieces that may not be readily available through traditional channels. The competitive bidding environment can lead to discovering hidden gems in the art market. Diverse Selection: Auctions feature a diverse range of artworks, spanning various styles, genres, and artists. This diversity allows collectors to explore a broad spectrum of artistic expressions and find pieces that resonate with their tastes and preferences. Market Transparency: Auctions offer transparency in pricing as artworks are sold based on competitive bids. This transparency can provide insights into current market values and trends, helping collectors make informed decisions about their purchases. Established Provenance: Artworks sold at reputable auction houses often come with well-documented provenance, detailing the history of ownership and the authenticity of the piece. This can enhance the collector's confidence in the legitimacy and quality of the artwork. Access to Investment-Grade Art: Auctions frequently feature works by established and emerging artists with investment potential. Collectors seeking art as an investment may find auctions to be a strategic platform for acquiring pieces that could appreciate in value over time. Networking Opportunities: Attending auctions provides collectors with opportunities to connect with other art enthusiasts, dealers, and experts in the field. Networking can lead to valuable insights, collaborations, and access to additional art-related events. Curated Auction Themes: Some auctions are organized around specific themes, periods, or movements, offering collectors a curated selection that aligns with their interests. This thematic approach can make the auction experience more tailored and enjoyable for buyers. Established Reputation of Auction Houses: Reputable auction houses have a long history of expertise, trust, and credibility in the art market. Collectors may feel more secure purchasing from established auction houses with a track record of handling valuable artworks. The competitive and dynamic nature of the bidding process can add excitement to the acquisition of art. Collectors may appreciate the thrill of participating in live or online auctions and securing a coveted piece through strategic bidding. Supporting Artists: Purchasing artwork at auctions contributes to the support of artists and the arts ecosystem. Collectors play a role in sustaining the creative community by investing in and appreciating the work of talented individuals. #ArtAuction #CollectibleArt #AuctionHouseFinds #InvestingInArt #BidForArt #ArtMarketInsights #AuctionDiscoveries #ArtInvestment #BidAndCollect #ArtMarketTrends

Life as a Fourth-Generation Art Dealer: Navigating Today's Sales – Buying Tips for New Collectors As a fourth-generation art dealer, auction days are always exciting, especially for new collectors or those exploring new areas of interest. Today, I’m focusing on Bonhams London’s Modern British Art sale—a lineup of 70 wonderful lots showcasing a diverse array of talent. Date: November 20, 2024
Time: 3:00 PM GMT (10:00 AM EST)
Location: London, New Bond Street Art of Collecting: Key Rules Art collecting blends passion and strategy. Keep these rules in mind: 1. Love the Work: Choose pieces that truly resonate with you. 3. Prioritize Quality: Opt for works by talented artists and buy the best quality you can afford with your budget 4. Resale Potential: Select pieces with enduring desirability and market appeal. My Top 5 Picks 1. Lot 39 - Laurence Stephen Lowry, “A Ferry” (£200k–£300k)
A standout Lowry with bold composition and fascinating provenance. A similar work resides at MoMA, and this piece is returning to the market for the first time in nearly 40 years. 2. Lot 56 - Dame Barbara Hepworth, “Miniature Divided Circle” Sculpture (£80k–£120k)
Hepworth’s mastery of bronze is evident in this 1971 piece. Her work remains highly sought-after, blending artistic vision with material innovation. 3. Lot 37 - Laurence Stephen Lowry, “Church, Newcastle” (Drawing, £25k–£35k)
A beautifully composed pencil drawing that resonates personally, as Newcastle holds a special place in my heart. It also reflects Lowry’s deep connection to the northeast. 4. Lot 23 - Duncan Grant, “Still Life with Dahlias” (£15k–£20k)
A radiant example of Bloomsbury Group artistry, this double-sided work is rich with history and charm, featuring a portrait on the reverse and a vase still displayed at Charleston Farmhouse. 6. Lot 27 - Augustus John, “Magnolias in a Vase” (£10k–£15k)
A personal favorite, Augustus John’s elegant floral painting, while it is a large work, its serene palette offers both charm and versatility, appealing to a wide range of collectors. Buying Tips for Collectors Whether your budget is modest or expansive, exceptional works by top talents are within reach. Decide if your goal is personal or commercial collecting: * Personal: Follow your heart and choose pieces you love. * Commercial: Stay focused and stick to your budget. A tip from my grandfather: Write down your final bid and resist getting swept up in the auction moment! Why It Matters Art collecting is about more than acquisitions—it’s about curating a collection that reflects your vision, passion, and strategy. Which pieces resonate with you? Let me know in the comments! 👇 If you want to see more content like this, why not check out our blog on our website and our facebook page. #artcollector #modernbritishart #artauction #duncangrant #laurencestephenlowry #barbarahepworth #augustusjohn #artadvisory #collectorsclub #artlegacy #fineart

So it turns out that not only Sotheby's is showing up but also Christie's is putting together a show room. And I am pretty interested in art because there is a link between the world of art and the world of moving money. So when I worked at the big bank, there were some incredible pieces of art at the corporate headquarters and the bank turns out to hire a full time staff of art experts to care for the paintings and sculpture. However, one day at one of the training seminars, the people responsible for the art explains that one of the businesses of the bank was to provide art-back loans, and I realized that I was basically at a very, very high class pawn shop, and all of the art staff and paintings weren't there out of philantropy. The thing is that art is a very useful way of moving money. You buy a painting and then move it somewhere else and sell it. Or else you put it into a warehouse in a free trade zone, and no one knows about it. One nice thing about art is that unlike gold, the value of art can be disputed. Did I pay $1 million for the painting or $1.5 million, I forget, and this makes life more difficult to anyone that wants to know how much I am worth. Also fine art just makes things nicer. So if you go into a currency shop, everything looks run down, and the reason for this is that you are dealing with very low margin stuff, and your customers are just interested in the best deal. So you have the cleaning lady come in once a month rather than once a week, and so things will get run down quickly. But if you have good art nearby it refreshes the soul (at least until you get pulled into some of the less idealistic parts of the business.) https://lnkd.in/gtDstNpy