This second artnet Intelligence Report drills down into the fact that art is never divorced from commerce, politics, or economics—much as we might like to think otherwise. In this issue, we explore the effects of China’s economic quake on the art market and uncover the powerful forces behind the craze for street artist-turned-global phenomenon KAWS. We also offer advice on how to best leverage your art collection during a recession, and how to collect the rising stars participating in this year’s Venice Biennale.
Above all, this report explores how data—compiled here in close and creative partnership with the indispensable artnet Price Database team—can offer valuable insights to help us better understand the past, prepare for the future, and appreciate the art of our time along the way.
In December 2016, Brett Gorvy, then Christie’s top dealmaker, made headlines after selling a 1982 Jean-Michel Basquiat painting for more than triple its previous auction record, after casually posting a picture of the work on Instagram. According to reports, Gorvy uploaded the image on Instagram shortly before his plane took off from New York. 16 hours later when he landed in Hong Kong, he’d received messages from three clients with offers to buy the painting.
Written by Helen Ho Contemporary Art Specialist
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