All art fairs having been canceled or postponed and those that have opened have done so under challenging constraints. Thus, the art-market that existed before the pandemic is at a global standstill.
LOT 20
Manolo Valdes (b. 1942) Retrato I
Estimate: USD 120,000 - USD 180,000
Price Realised: USD 375,000
signed, titled and dated ‘Manolo Valdes Retrato I 2018’
(on the reverse) oil, mirror and fabric collage on burlap
56 x 37 in. (142 x 94 cm.)
Executed in 2018.
Christie's. SALE 19575
Virtue Online | 29 May - 12 June 2020
There is, however, one sector of the art market that is flourishing. Online sales (like much of retail in general) has picked up the pace and changing positively with the times.
As the pandemic crisis persists, art collectors, (as well as just about everyone) have been spending increasing amounts of time browsing online for all sorts of information, entertainment, and yes, acquisitions.
While it is too early for real data on online art transactions, news that auction houses have been experiencing successful online sales is encouraging.
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