Art finance

Financial arrangements regarding the buying and selling of art have their roots in old-school pawnbrokers. Practices have greatly developed over the years and now encompass art loans and guarantees underwritten by auctioneers or third parties.


Increasingly bankable Banksy

26 February 2007

Anonymous artist’s contempt for art market does nothing to dampen demand

Gold price leaps to six-month high

26 February 2007

Late trading in New York on February 21 saw the price of gold rocket $23.50 (£16.50) to $680.50 (£482.50) an ounce, its highest close since July 7 last year. The leap followed publication of the US Department of Labour’s Consumer Price Index (CPI) report showing inflation had risen faster than expected in January.


Global buyers raise the bar in London market

12 February 2007

Auction series takes art sales to new level

Chinese artists now lead Contemporary art top 100

05 February 2007

Share of places has risen to a quarter as prices have soared, say Artprice


Year of the dealer’s stock sale continues

15 January 2007

Already 2007 looks set to follow 2006 as the year of the dealer’s stock sale. As reported last week, renowned international style guru and interior decorator Keith Skeel is to follow in the footsteps of Partridge, Dick Turpin, and John Jesse by selling his collection of ‘antiques and eccentricities’ at auction.

Christie’s total – the highest in history

15 January 2007

Helped by their stunning November series of New York art sales, Christie’s announced 2006 sales of £2.51bn including auction premiums. The figure – that includes more than £137m in private sales – is the highest in art auction history.


Celtic auction bonanza

08 January 2007

Dublin and Edinburgh rooms all but double sales totals as Bonhams raise stakes in Scotland

Christie’s secure big lead in Paris

08 January 2007

Christie’s confirmed their Paris dominance in 2006 by posting sales of €200.8m (£135m), up 74 per cent on the previous year.

Droit de Suite nets £1m in its first year

03 January 2007

THE British art trade has paid out over £1m since Droit de Suite came into force at the start of the year. Despite some initial bureaucratic difficulties, the Artists’ Resale Right appears to have been implemented more smoothly in Britain than in other European countries.

Sotheby’s hit back over share price claims

03 May 2006

SOTHEBY’s have hit back at claims that investors are losing confidence in the art market despite the company’s biggest shareholder selling their entire stake.

Chancellor scraps all plans for art SIPPs

06 December 2005

Art, antiques, wine, classic cars – pension hopes disappear

Sotheby’s up the stakes as they extend credit facility by $50m

05 December 2005

Sotheby’s have extended their credit facility by $50m to $250m, bringing them greater room for manoeuvre in competing for business.

Don’t pin hopes on SIPPs for sales boom

05 December 2005

But they will bring benefits for the industry, expert advises

Russians’ bid to double reserves sends gold price to 18-year high

26 November 2005

THE price of gold reached an 18-year high last week, after speculative buying surged with the news that the Russian central bank is planning to double its gold reserves.

Contemporary still booming

19 November 2005

Christie’s return higher total for a single sale, but Sotheby’s secure top price of series


Not big money but it’s still a model market

22 October 2005

THE 20th century fashion and accessories sales at Christie’s South Kensington (20/12% buyer’s premium) are not the firm’s biggest money-spinners.

Now there’s another delay in collusion payments Red tape means a further two or three months’ wait

18 October 2005

Red tape continues to delay compensation payments in the Sotheby’s/Christie’s collusion case, despite assurances that they would be made by the end of September.

Gold hits a 17-year high as precious metals rise

18 October 2005

GOLD hit a 17-year high of £268.81 per 24 carat troy ounce as ATG went to press, Michael Bloomstein of Brighton reported.

Partridge devalue by £10m in bid period

23 August 2005

A much-publicised decision to devalue their stock by £10m, is the headline figure of the six-monthly accounts published by Partridge Fine Arts.

Bloomsbury ‘turnover up 60 per cent’

10 August 2005

Bloomsbury Auctions report that their new departments have helped them achieve a 60 per cent rise in turnover year on year for the first half of 2005.



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