Although NY is without doubt the world’s leading art auction place, it hardly finds a top ranking art fair it deserves. The Armory Show that will run its 22nd edition next week ( March 3-6) still has to struggle to be considered as a must-attend fair, even now remaining a bit behind its young rival Art Basel Miami Beach.
Here are some hints on the Big Apple auction market.
of the year total auction turnover is recorded in May (49%) and November (43%). But outside these two months, great art collectors obviously do not stay in New York.
important auction houses operate in New York, Christie’s (53 %), Sotheby’s (41 %) and Phillips (4 %) generating 98 % of New York auction turnover.
fine art lots were listed for auction in NY last year, with an unsold rate of 30 %, one of the lowest rate of the market.
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