1. Sotheby's Reports Record Results for 2022, Despite Lower-Than-Projected Sales Figures.
Sotheby's has released annual figures claiming record results for 2022, with projected sales of $8 billion, the highest in the company's 278-year history. However, a closer look at the figures reveals that actual art and luxury sales as of December 14 were $6.4 billion, down 7% from the previous year. In order to reach its projected total, Sotheby's has inflated the figure by including revenue streams it did not have last year, including $2.3 billion from recently-acquired RM Sotheby's and Sotheby's Concierge Auctions, as well as an anticipated $120 million in luxury sales by the end of the year.
Despite the lower-than-projected sales figures, Sotheby's did have some successes this year. The company credited "fresh to market single-owner collections" with boosting results, with three collections achieving over $100 million each. Sotheby's also highlighted new sale formats that achieved 100% sold rates, or "white glove" auctions, including "The Now," featuring ultra-contemporary art, and Artists' Choice, a primary-market sale platform. The number of works by women artists selling for over $1 million each also increased by 70% since 2019. The two most valuable works sold by female artists at auction this year were Louise Bourgeois's Spider IV at $16.5 million and Tamara de Lempicka's Portrait De Romana de la Salle at $14.1 million.
In addition to its successes in the art market, Sotheby's also had a number of high-selling items in the luxury category, including the Williamson pink star diamond, which sold for $57.8 million in Hong Kong, and the sale of the largest residence in the US, titled The One in California, for more than $141 million. The RM Sotheby's sale of a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe for $142.8 million was also a notable success, making it the most valuable car ever sold.
Sotheby's has also announced ambitious expansion plans in Asia, including the opening of a new 24,000-square-foot location at Landmark Chater in Hong Kong in 2024, as well as new offices in Shanghai and Tokyo in the coming years. The company also held its first auction in Singapore in 15 years and its first major international exhibition in Vietnam. There have also been new staff appointments in mainland China, South Korea, and Thailand, as well as the expansion of Sotheby's Buy Now in Hong Kong. The expansion in Asia comes as the company sees rapid growth, with a record number of bidders and an increase in clients under 40 actively bidding. Asian collectors are reportedly spending more per person on average than collectors from any other region in the world.
2. The Armory Show in New York Announces Eva Respini, Candice Hopkins, and Adrienne Edwards as Curators for 2023 Edition.
The Armory Show in New York has announced the selection of three leading curators for its upcoming edition, set to take place in September 2023 at the Javits Center. Eva Respini, the deputy director for curatorial affairs and chief curator at the Institute of Contemporary Art, Boston, will curate the Platform section, which will feature large-scale installations and site-specific works. Candice Hopkins, the director and chief curator of Forge Project in Upstate New York, will curate the Focus section, which will showcase solo and two-artist presentations. Adrienne Edwards, the curator and director of curatorial affairs at the Whitney Museum in New York, will chair the fair's sixth annual Curatorial Leadership Summit (CLS).
The programming for the fair will have a thematic tie-in across all three projects, focusing on historical narratives. Respini's section will explore how artists have worked to challenge the canon, while Hopkins's section will examine how emerging and established artists have uncovered hidden histories. Edwards's CLS will tie these themes together and address relevant issues in curatorial practice.
Respini was the curator of this year's U.S. Pavilion at the Venice Biennale, which was dedicated to the work of Simone Leigh. She is also currently working on a survey of Leigh's work that will open at the ICA Boston in March. Respini has also curated exhibitions such as "Art in the Age of the Internet, 1989 to Today" and "When Home Won't Let You Stay: Migration through Contemporary Art," as well as solo shows for artists such as Deana Lawson, Firelei Báez, John Akomfrah, and Huma Bhabha.
Hopkins, a Carcross/Tagish First Nation citizen, was previously a senior curator for the first two editions of the Toronto Biennial of Art and served on curatorial teams for Documenta 14 and the Canadian Pavilion at the 2019 Venice Biennale. She has also co-curated exhibitions such as "Soundings: An Exhibition in Five Parts," "Art for a New Understanding: Native Voices, 1950s to Now," "Sakahàn: International Indigenous Art," and "Close Encounters: The Next 500 Years." Earlier this year, Hopkins was awarded the 2022 Leo Award from Independent Curators International.
Edwards was co-curator of this year's Whitney Biennial and the president of the international jury of the 2022 Venice Biennale. She has also curated solo shows for artists such as My Barbarian, Dave McKenzie, and Jason Moran, as well as a series of performances by Wu Tsang, boychild, and Fred Moten. Edwards was also part of the team that helped realize David Hammons' large-scale public artwork Day's End, which was installed on Pier 55 in New York in 2021.