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Global Art Auction Sales Hit a Record $6.5 Billion in 2021 – Barron's

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Global art auction sales reached a record US$6.5 billion in 2021.


Alive Coverage/Sotheby’s

Auction sales of fine art have totaled US$6.5 billion in 2021, surpassing the previous peak in 2018, according to a report from ArtTactic, a London-based art market research firm, on Wednesday.

The figure was up 21.7% from 2019 and 74% from 2020, when art markets were interrupted by the Covid-19 pandemic, according to the annual art market review, in which ArtTactic tracks sales by
Christies
’, Sotheby’s, and
Phillips
auction houses.

The fastest-growing category was what ArtTactic called Young Contemporary art, which includes works by artists under 45 such as
Adrian Ghenie,

Matthew Wong,
and Nicolas Party, as well as digital artists such as
Mike Winkelmann,
professionally known as Beeple, whose Everydays: The First 5000 Days NFT sold for over US$69 million in March at Christie’s.

Auction sales of this category soared to a record high US$395 million, up 201% from 2020. Hong Kong accounted for US$142 million, further establishing itself as the auction hub for a generation of younger artists, according to the report.

The art market “is experiencing a generational shift towards younger collectors, many emerging from Asia, and who are increasingly backed by wealth derived from the booming tech and crypto markets,”
Anders Petterson,
founder of ArtTactic, said in the report. “Their motivations, tastes and behaviors are now driving the market for young artists.”

However, Post-War and Contemporary art remained the predominant collecting categories in 2021, accounting for a combined 53.8% of market share with a record US$3.53 billion in sales, the report said.

Auction sales of Old Masters realized U$279 million in 2021, up 32.1% from 2020 and up 16.4% from 2019. Impressionist art auction sales amounted to US$963 million, up from US$278 million last year. 

After a three-year decline, Modern art rebounded with a total of US$1.28 billion in auction sales.Two single-owner collections, The Macklowe Collection and the MGM Collection, accounted for 17.4% of total auction sales of Modern art this year. Both collections were auctioned through Sotheby’s during the second half of 2021. 

Sotheby’s top lot in 2021 was Sandro Botticelli’s ‘Young Man Holding a Roundel’, which sold for US$92.2 million.


Courtesy of Sotheby’s

Sotheby’s Consolidated Sales Amounted to US$7.3 Billion Year to Date

Boosted by these two collections, as well as strong performance across other categories, Sotheby’s auction sales, including fine art and luxury collectibles, reached US$6 billion, the auction house said Wednesday.

The auction sales were up 26% from the comparable 2019 and up 71% from 2020.

“Our unparalleled expertise and innovation mindset led to extraordinary results across categories and regions and set new benchmarks for selling art and luxury,”
Charles F. Stewart,
Sotheby’s CEO, said in a news release.

Including private sales channels, Sotheby’s consolidated sales totaled US$7.3 billion year to date, the highest in its 277-year history. The company still has 20 auctions scheduled before the end of the year.

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40 Random Bits of Trivia About Artists and the Artsy Art That They Articulate – Cracked.com

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40 Random Bits of Trivia About Artists and the Artsy Art That They Articulate  Cracked.com

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John Little, whose paintings showed the raw side of Montreal, dies at 96 – CBC.ca

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John Little, whose paintings showed the raw side of Montreal, dies at 96  CBC.ca

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A misspelled memorial to the Brontë sisters gets its dots back at last

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LONDON (AP) — With a few daubs of a paintbrush, the Brontë sisters have got their dots back.

More than eight decades after it was installed, a memorial to the three 19th-century sibling novelists in London’s Westminster Abbey was amended Thursday to restore the diaereses – the two dots over the e in their surname.

The dots — which indicate that the name is pronounced “brontay” rather than “bront” — were omitted when the stone tablet commemorating Charlotte, Emily and Anne was erected in the abbey’s Poets’ Corner in October 1939, just after the outbreak of World War II.

They were restored after Brontë historian Sharon Wright, editor of the Brontë Society Gazette, raised the issue with Dean of Westminster David Hoyle. The abbey asked its stonemason to tap in the dots and its conservator to paint them.

“There’s no paper record for anyone complaining about this or mentioning this, so I just wanted to put it right, really,” Wright said. “These three Yorkshire women deserve their place here, but they also deserve to have their name spelled correctly.”

It’s believed the writers’ Irish father Patrick changed the spelling of his surname from Brunty or Prunty when he went to university in England.

Raised on the wild Yorkshire moors, all three sisters died before they were 40, leaving enduring novels including Charlotte’s “Jane Eyre,” Emily’s “Wuthering Heights” and Anne’s “The Tenant of Wildfell Hall.”

Rebecca Yorke, director of the Brontë Society, welcomed the restoration.

“As the Brontës and their work are loved and respected all over the world, it’s entirely appropriate that their name is spelled correctly on their memorial,” she said.

The Canadian Press. All rights reserved.

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