From crypto to COVID: Why auction prices are rocketing

from crypto to covid why auction prices are rocketing 1

Sumary of From crypto to COVID: Why auction prices are rocketing:

  • By Hugues Hnore and Eric Randolph PARIS, France—From Albert Einstein’s notes to a record-breaking Frida Kahlo to a 6.6-million-euro triceratops—auction houses have lately seen a string of record-breaking items going under the hammer and through the roof.
  • That came just days after a storyboard for the failed 1970s film version of “Dune” sparked a bidding war that pushed the price 100 times above the valuation to 2.7 million euros.
  • AFP Market watcher Artprice credits a transition to online sales for sparking new levels of interest, particularly in the US and Asia.
  • But COVID forced them to modernize and the result is that online sales have been spectacular and have attracted a new audience,” said Artprice founder Thierry Ehrmann.
  • With stock markets soaring in the pandemic, the rich got significantly richer, while struggling to find ways to spend it.
  • “At a time when many art fairs can’t happen in person and online viewing rooms are awful, auctions have become a predominant form of selling,” Anna Brady, art markets reporter for The Arts Newspaper, said on its podcast.
  • Sun then triggered a lot of harrumphing among stuffed shirts of the art world by boasting about his purchase on Twitter—breaching their traditional codes of secrecy and discretion in a way that suggests an even more competitive market to come.
  • It’s a question that’s been raised before, especially in the 1980s when the art market looked in danger of overheating under the pressure of a new generation of yuppies trying to flash their cash.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.