The Palette Times

1. Auction Houses Diversify Offerings and Achieve Record Sales in 2022 In 2022, the top auction houses made significant efforts to diversify their evening sales and offered high-profile collections from top collectors, which contributed to record annual sales. The auction houses made headlines by breaking records for both well-known and emerging artists during the fall and spring seasons. One no..

1. A.R. Penck's Work Sees Global Demand and Record-Breaking Prices In May of this year, Christie’s sold a 1981 work by A.R. Penck for $567,000 during the New York sales cycle, the second highest price ever achieved for the artist’s work. This sale is significant because it marks a shift in demand for Penck's work, which has historically been concentrated in Europe. The artist, born Ralf Winkler ..

1. Art sales at Christie's, Phillips, and Poly Auction HK have been strong, despite declines in other asset categories. Auction houses around the world are experiencing record financial success even as the global economy struggles and other asset classes underperform. Last week, Christie's reported that it brought in $4.1 billion in the first half of 2022, an 18% increase from the previous year ..