Fine Art Fund Group will cash in on falling art prices (Art Market)
Evidence is mounting that after years of spectacular growth, art prices are falling. The Mei Moses index, which tracks auctions, suggests prices fell by 4.5% last year, after five years of growth averaging 20% a year. Artprice.com, which also tracks auctions, said that the proportion of works worth more than €1m (£882,000) left unsold increased sharply in the second half of last year.
Times Online - UK
Credit crunch draws masterpieces on to the market (London)
Masterpieces by some of the world's most famous artists are to be sold next month as the credit crunch starts to takes its toll on art collectors. Works by artists including Amedeo Modigliani, Camille Pissarro, Oskar Kokoschka, Piet Mondrian and Edouard Vuillard - some of which have never before been seen at auction - are to be sold after many years in the hands of private collectors.
Telegraph.co.uk - United Kingdom
LA art shows must go on (Los Angeles, US)
As conceived when the financial outlook was rosier, photo.l.a., an annual marketplace for a kaleidoscopic range of photography, is winding up today at Santa Monica Airport's Barker Hangar. Art LA, a showcase and sales venue for edgy new work, is gearing up for its Jan. 23 to 25 gig, also at Barker Hangar. And the Los Angeles Art Show, offering an eclectic survey of art from the last two centuries, is sticking with its plan to leave Barker for the much larger L.A. Convention Center, where it will appear Jan. 22 to 25.
Los Angeles Times - CA,USA
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