"Chief among them is Frieze New York, which opens to VIPs at the Shed on Wednesday, May 13, with 68 galleries, around half of which are New York-based. Meanwhile, more than $1.8 billion worth of art is set to go under the hammer across the major auction houses, starting at Sotheby's on May 14, where Robert Mnuchin's monumental Rothko is poised to bring in $70 million to $100 million. The house's total low estimate of $690.4 million for the week is roughly 70 percent higher than the total hammer price achieved in the same auctions last year."
"The amount of high-value material coming to auction suggests confidence in the market right now, New York-based advisor Megan Fox Kelly told me over the phone, adding that there's plenty of "appetite" among collectors to digest it all. That's great news for an industry still trying to shake off three lean years. Beyond the very top end, a rebalancing act continues. Sales may be steadying, but they are "measured," said dealer Margot Samel, who is prepping for the third-and final-edition of Esther, the fun and frisky alternative fair that she and Tallinn-based gallerist Olga Temnikova launched in 2024."
"Opening May 12, it's the de facto kick-off event for the week. "I've had sold-out exhibitions where the last work sells on the last day," Samel said, noting that such a long sales timeline would have been unheard of three or four years ago. "There's less impulse buying now." That seems to be the ca"
Frieze New York opens to VIPs at The Shed on May 13 with 68 galleries, about half based in New York. Major auction houses in New York are set to sell more than $1.8 billion worth of art starting May 14, including Sotheby’s sale of Robert Mnuchin’s Rothko expected to bring $70 million to $100 million. Sotheby’s total low estimate for the week is $690.4 million, about 70% higher than last year’s hammer totals in comparable auctions. Advisors and dealers describe renewed confidence and collector appetite, but sales remain measured beyond the top end. Esther, an alternative fair opening May 12, is positioned as the week’s kickoff event, with longer sales timelines and less impulse buying than in prior years.
Read at Artnet News
Unable to calculate read time
Collection
[
|
...
]