The art-auction calendar in the Middle East continues to get busier, with Christie’s announcing that it will add a second day to its October sales of modern and contemporary Arab, Iranian and Turkish Art in Dubai. Read More
The rapid ascent of the Chinese art market and auction business is far from a secret at this point, but an article in the The New York Times about the phenomenon makes a few key points about developments in that field, including the fact that, according to art-market research company Artprice, Chinese auction houses may now be the world leader in sales, moving $8.3 billion of goods a year. Read More
With the season’s first major art auctions still more than a month away, The Observer has been looking for hints about the state of demand in the art market. At the Art Basel art fair in June, dealers reported that clients were spending freely, but we wanted to know just how intensely they are doing so.
And so this news caught our eye: high-end Parisian fashion house Hermès announced that its profits for the first half of the year jumped a jaw-dropping 50 percent over the previous year, with revenues climbing an astounding 21.5 percent, to €1.31 billion ($1.89). Read More
