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Sotheby’s Faces 88% Earnings Decline Amid Art Market Slowdown

Sotheby’s Faces 88% Earnings Decline Amid Art Market Slowdown

by News Desk | Sep 2, 2024 | Art market news

Sotheby’s, one of the most prestigious auctioneers globally, is suffering from poor financial results down by 88% due to the slowing art market internationally. This result follows the announcement that core earnings have fallen 88%, and sales at auction have...
£6m Watteau Painting Once Owned By Walpole Receives Export Ban

£6m Watteau Painting Once Owned By Walpole Receives Export Ban

by News Desk | Sep 2, 2024 | News

A temporary export bar has been placed on Le Rêve de L’Artiste by Jean-Antoine Watteau. The historic painting once belonged to Britain’s first Prime Minister, Sir Robert Walpole. The masterpiece, valued at £6m, is a fine example of the Baroque style. The...
Peter Doig Calls For Art Market Transparency Criticising Secondary Market Profits

Peter Doig Calls For Art Market Transparency Criticising Secondary Market Profits

by News Desk | Sep 1, 2024 | News

The Scottish artist Peter Doig, whose works have sold for vast amounts at auction, shared his anger over the lack of transparency in the art market (in particular, the secondary market). In 2007, when his painting “White Canoe” sold for £5.7 million, Doig...
WASPS Studios From Idealism To Big Business – Clare Henry

WASPS Studios From Idealism To Big Business – Clare Henry

by News Desk | Sep 1, 2024 | News

Scotland’s hot topic is the hike in the cost of WASPS STUDIOS. Set up in 1977 by artists for artists, for almost 50 years, WASPS (short for Workshop & Artists Studio Provision Scotland) helped provide tenants with subsidised studios. Now, with studio rent...
Bankrupt Boy Scouts of America Art Collection To Be Auctioned Off

Bankrupt Boy Scouts of America Art Collection To Be Auctioned Off

by News Desk | Aug 30, 2024 | News

Heritage has announced that it will auction off a collection of iconic paintings and illustrations belonging to the Boy Scouts of America (BSA). The collection has been valued at $59 million, with the proceeds going towards compensating survivors of childhood sexual...
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