Nice interview on NPR this morning with collector Aaron Levine. (wife Barbara is not in the interview but I wanted to mention her because she’s very knowledgeable – and charming).
A good point to develop on was the lack of Americans at Basel this year. The art market as a whole (from collectors of objets d’art at regional auctions to those picking up an $80 million Monet) is 50% American, but that is not where half of the money is coming from. It’s the money from Russia and China (secondarily, UAE and India, too) flowing through the UK and the rest of Europe that’s feeding us.
I’ll say it again, we will all be alive to see the center of the art market pass from New York to London.
Tags: $80 million Monet, Aaron Levine art collector, Americans at Art Basel, Art Market China Russian UAE India, Barbara and Aaron Levine, Claude Monet Le bassin aux nympheas, global art market, International art market, Lauren Gentile, NPR art market
August 14, 2008 at 4:02 pm |
Or from London to Hong Kong!
International collectors are definitely buying more and more artwork. There’s so much oil, natural gas, and mining money in places like Russia and the Middle East, so investors are now looking toward art. And did you know that every new high end real estate complex in China will feature an art museum? And now that the Guggenheim and Louvre are planned for Abu Dhabi, we’ll surely see a spike in Middle Eastern art at auctions. To read more about art markets in more than 40 countries, read The International Art Markets edited by James Goodwin. http://theinternationalartmarkets.blogspot.com