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Welcome back to Wall Power, your twice-weekly temperature check on the art market. I’m your thermometer, Marion Maneker.
On Sunday, I’ll take a closer look at the mid-season contemporary art sales in New York, which begin next week. In the meantime, Christie’s has announced the sale of works from the collection of liquor heiress Laura Lee Brown and her husband, Steve Wilson, the Louisville couple also known for their chain of boutique “museum” hotels featuring contemporary art. Christie’s will be selling works from their collection by Nick Cave, Simone Leigh, Titus Kaphar, and Lynette Yiadom-Boakye, from its upcoming Post-War to Present sale, which begins October 1. (One of the couple’s works, a historic pair of François-Xavier Lalanne camel couches, will be reserved for the November sales.)
🍸P.S.: If you’ve received this email from a friend or colleague, get right with your higher power and take advantage of the 20 percent discount we’re currently offering on your first year of Puck, in honor of our third anniversary. (We offer special group rates, too.)
Tonight, I’ve got an update on the looming showdown between the Neuendorf family, which controls Artnet, and their fellow shareholders over the direction of the business. I’ll dive into the financials and the intrigue, below.
But first…
- Francis Newton Souza on fire: Tomorrow, Christie’s will hold its South Asian Modern and Contemporary Art sale as part of New York’s Asia Week. The market for Indian masters from the mid-20th century has seen its oscillations in recent years. But right now, we seem to be...
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| As you might have heard once or a thousand times, it’s been a humbling year or so in the art market. Naturally, that economic climate has had downstream consequences for the adjacent businesses that support the market and its actors, including Artnet, the German auction database, news site, and sales brokerage business. Within the art industry, the brand remains very powerful, possibly as esteemed among insiders as Sotheby’s and Christie’s are with the general public. But according to a newly released financial report, the company has struggled, losing about $1 million in 2023—a reversal from a small net profit the year before—due in part to declining revenue in its auction and private sales business. Also buried within the report, Artnet revealed it... |
