In this context, Phillips is increasingly relying on this dynamic to incentivize its sales of Contemporary and Post-War art which, along with watchmaking, jewelry and design, have become its specialties. In parallel, Phillips has recently announced a partnership with Yongle to host sales in Hong Kong and Beijing, underscoring the enormous attraction of the Chinese art market. Already in 2021, Phillips partnered with Poly Auction to organize four sessions that totaled $176 million.
As the art market reconfigures…
For the time being, London retains an undeniable place in the triumvirate that dominates the global art market. The UK capital even seems to have found its way back to growth, although its auction turnover totals are still much lower than in 2008 or 2014. Moreover, while London outbid Hong Kong in H1 2022, that may not have been the case if China had not imposed a drastic zero-covid policy in H1. The Hong Kong market will most likely pick up again in the second half of this year.
Meanwhile… just a week after Frieze London, Paris will be hosting the prestigious Paris+ by Art Basel fair. A lot of questions and expectations surround this first edition of Paris+ (which replaces the FIAC).
As regards the digitalization of art and the art market, things are moving rapidly with the deployment of Christie’s 3.0: nft.christies.com.
London may be able to draw on its long history and strong reputation for Fine Art sales. But it cannot ignore the energy that is today emanating from the Ultra-Contemporary and art-NFT market.
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 793,000 artists.
Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world’s leading Fine Art NFT platform.
Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 5.4 million (‘members log in’+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).
Artmarket with its Artprice department, has been awarded the State label “Innovative Company” by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.