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State of the Art Market, Art to See in NYC & What I Am Still Thinking About
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The State of The Art Market
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The vibes are finally back for the art market. Having been in a lull since 2022, this past fall auction and art fair season has restored confidence. Over $2.2 billion was sold of art this past month, up almost 80% from last year’s equivalent sales.
There was depth of bidding across the board, with a pairing of big name collectors Edlis Neeson, Elaine Wynn, Leonard Lauder, Pritzker AND exceptional fresh works to market all priced conservatively. The opening of Sotheby’s at the Met Breuer (a line to get into the front door of an auction house, not just to see an individual masterwork, I have not yet seen!) added to the gravitas of the season.
Phillips got creative by including Cera the Triceratops (yes they should have sold shirts as one exec commented) in their evening sale and an auction of ancient geologic wonders. One sandstone formation millions of years old I overheard was mistaken for a Louise Bourgeois and given the estimate at $8-10K, it really looked like a steal. Phillips also debuted its “Priority Bidding” system, which opens up a guarantee-like process to all bidders. If they are willing to place bids 24 hours before the auction, they can receive a 4% discount off the buyer’s premium on any lot. The auction house received advance bids on over 70% of the works on offer, thereby reducing their overall risk and simultaneously making buyers feel like they got a deal.
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Top Things to See in NYC Now
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Art I Am Still Thinking About
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Studio visit with Ilana Sadvie.
Visited her Brooklyn studio with the ICA SF Patrons Group in September.
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"Through Dusk" featuring Lee Bontecou, Claire Falkenstein, Yayoi Kusama, Agnes Martin, Yoko Ono, Mira Schendel at Ortuzar Projects.
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Dyani White Hawk at The Walker in Minneapolis.
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I'm Amelia, Founding Partner at Legacy Art Partners, where I help collectors navigate every stage of their art journey—from strategic sales and acquisitions to market valuation and analysis. With over a decade in the art world, including leadership roles at Bonhams and Christie’s, I'm passionate about art both as a personal pursuit and an alternative asset class. I love sharing insights from my experience and am always excited to connect with fellow art enthusiasts and investors.
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Legacy Art Partners is a full service art advisory firm partnering with contemporary art collectors across the US. Wherever you are in your collecting journey, build your legacy with us.
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