852 MILLION USD FOR 82 ARTWORKS AT CHRISTIE’S NY LAST WEEK.
This is amazing how Christie’s and Sotheby’s dominate the market alone nowadays. It is a phenomenon of power, branding and art business. Brett Gorvy, responsible for this extremely powerful selection for this season is the one behind those competitive pieces that forced international art collectors take their risks and fight with no fear for their small selection of desired artworks in New York.
Pop Art Pope Andy Warhol and his painting from 1963, showing music icon Elvis Presley and extracting the most influential themes of that time, was the most powerful piece achieving a price of 82 million dollars. The perfect casting with the perfect marketing strategy puts secondary market in leadership of contemporary art and the most powerful way of promoting art nowadays.
Although, It does not mean the end of primary market, on the contrary, many challenges presented to galleries, art dealers and art promoters putting them at the edge of art world. In order to be included to that selection it demands lots of work, promotion, collaborations with museums and many actions that are going to lead the artist to it.
Contemporary Art market is growing fast as a secure port of medium and long therm investments.