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Jittery art market calms from successful sales

Posted on February 7, 2009 at 3:37 PM.

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Saturday, 7th February 2009

 

Plenty of Praise for Revamped Palm Beach Fair (Palm Beach, Miami, Artinfo)
The Lesters' success this year appears to be the result of aggressive promotion and bolstering of confidence among the fair's 80-odd participating dealers, some of whom were convinced to return to the fair after dropping out during the DMG years.  The Lesters arranged for a full-color advertising supplement in last Friday's New York Times, local TV spots, and buses to import collectors from Naples, Florida. They shortened the fair from 11 days to five -- it now runs February 4 to 8.
ARTINFO - New York,NY,USA

 

Paper trail into the artist's inner being (London, Times Online)
On Wednesday, when the Watercolours & Drawings Fair opened in London, its organisers must have been hoping that history would repeat itself. Now in a new venue, the Flower Cellars, Covent Garden -- formerly the Theatre Museum -- the fair is a descendant of a series that began at the Park Lane Hotel in January 1986.

Times Online - UK

 

Art Rotterdam: Everything in Moderation (Rotterdam, The Netherlands, Artinfo)
ROTTERDAM, The Netherlands--"The Dutch are a moderate people. Our economy grew in a moderate way, and it will fall in a moderate way: We are not worried -- so far," said a gallerist from Amsterdam's Willem Baars Art Projects. This rosy (and refreshing) outlook reverberated throughout the 75 booths at Art Rotterdam, which celebrates its 10th edition this year, running February 5 to 8.

ARTINFO - New York,NY,USA

 

A Gallery Goes Out in a Burst of Energy (New York, New York Times)
New York's increasing gallery closings may be cause for distress, especially for artists who suddenly find themselves without dealers. But you might consider these closings not as a loss of energy but as energy transformed, moving from one dimension to another. Cohan & Leslie, a Chelsea gallery that closed last month, implied as much in its farewell e-mail message: a post-election, pre-inauguration photograph of Barack Obama, casually dressed in a gray T-shirt and giving a smile and a wave from the back seat of a sleek automobile.
New York Times - United States

Successful sales calm jittery art market (London, Financial Times)
Predictions of an art market meltdown were confounded in London this week as six sales of impressionist, modern and contemporary art at Christie's and Sotheby's turned in solid results.  The auction houses managed to restore confidence to a jittery market with successful sales by radically shrinking the size of the catalogue and lowering estimates compared with last year. Some distress selling is, however, beginning to filter through.
Financial Times - London,England,UK

Brandeis' Attempt to Turn Art into Assets (Boston, US, TIME)
There's a Stephen Sondheim lyric that says it all: "Art isn't easy." Last week Brandeis University in Waltham, Mass., stunned both the academic and art worlds when it announced that it would shut down its Rose Art Museum and sell the collection. The reason was an institutional budget crisis -- not at the museum, which is largely self-sufficient, but at the university.
TIME - USA

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