Traditionally, fall is the season of the major Contemporary Art fairs in Europe: the Frieze will open in the next few days, and the Fiac will follow in its footsteps a couple of weeks later. Paris’s and London’s cultural agenda perfectly coincide with the two fairs during this time when international art market players will come together, there will be a flurry of events at galleries and museums, in the streets and public squares.
Paris and London are getting ready to take turns at hosting the crowds and Artprice compared the auction performances on both sides of the Channel to examine the competition between the two cities.
The number of Fine Art works auctioned in Paris in the first six months of 2016. There were only 10,700 pieced on offer in London.
The size of the Paris market compared with London. Although the number of transactions remains higher in Paris, the finest items are sold in British salerooms.
The record hammer price listed in Paris, when auction house Binoche-Godeau sold the Noces de Pierrette (1905) by Pablo Picasso, in November 1989. The record was almost beaten in 2010, by Modigliani’s Tête.
The record hammer price listed in London. On 3 February 2010, Sotheby’s sold one of the six copies of Alberto Giacometti’s 1960 L’homme qui marche, well above the US$20 million US$30 million estimates.
— Artprice.com (@artpricedotcom) 28 février 2016
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