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Monet's US$24 million oil painting sets new Western art auction record in mainland China | Auctions News | THE VALUE

In the Asian Art market, the appetite for Western Modern and Contemporary Art masterpieces in recent years have proliferated in Hong Kong – setting record prices in auction sales. This trend has spread northwards into mainland China. ....

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Picasso and Van Gogh breaks Asia record, despite unsatisfactory results at Sotheby's evening sale | Auctions News | THE VALUE

A powerful tropical cyclone swept over southern China, but it did not deter an international auction house to continue with its sale on 9 October. Sotheby's Hong Kong Modern Art Evening Sale performed much lower than expected, with a total hammer price of HK$485 million (around US$61.7 million) dollars – less than the HK$648 million (US$83.2 million) dollar total estimated price. ....

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In the 1970s, an American Curator Moved to Tehran to Advise the Empress on Her Art Collection. Here's What They Bought

Read an excerpt from Donna Stein's new memoir, "The Empress and I: How an Ancient Empire Collected, Rejected and Rediscovered Modern Art." ....

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Tech-savvy Sotheby's $5bn global sales beat Christie's $4.4bn in 2020

Specialists bidding in New York during Sotheby s Contemporary evening sale in June
© Julian Cassady Photography LTD
Sotheby’s year end revenue has edged ahead of Christie s, reporting total global sales of over $5bn compared to Christie s $4.4bn (£3.4bn). But as both auction houses are now private companies, their profit margins are not known.
Somewhat remarkably for a year ruptured by a global pandemic, Sotheby s total sales are up from $4.8bn in 2019, (though likely still lower than its $5.3bn tally in 2018). Meanwhile, Christie’s turnover is $600m lower than its rival at $4.4bn, 25% lower than last year, which it attributes to a drop in live auction sales. Christie’s chief executive Guillaume Cerutti has described 2020 as “a shock and a catalyst”. ....

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