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Individual Contributions
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Vincent Anthony Falkiewicz Even though the price fixing scandal of the early 2000's was damaging to not only the players involved, but also the market in general, it still has not changed the perception of the auction house in the art market. Under the economic conditions of the price-fixing period, the market would have slowed anyway. This explains the slowing production of the time. One way it is shown this has not affected the perception of the auction house is, as have seen in recent readings, the auction house's increasing popularity. More than its increasing popularity is its increasing success. The auction house continues to succeed in properly connecting buyers and sellers. More and more buyers are entering the market with the bettering market conditions, and no complaints about overpriced art have been made in recent years. Additionally, the way the situation was handled by not only the law enforcers, but by others in the art community, shows how serious of an offense this way. More specifically, it displays how serious everyone takes events like this in the art world, and how it was only a few bad people, not the whole scene. It is even showed where Taubman tells how sick he felt for letting the whole community down. The auction house in general has definitely not been affected by this small yet serious event. It even opened the opportunity for new smaller auction houses to enter the market. http://www.nytimes.com/2000/11/07/business/worldbusiness/07iht-alice.2.t.html http://www.independent.co.uk/news/world/americas/jury-begins-its-deliberations-in-sothebys-pricefixing-trial-619075.html |
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Erica Gilbert-Levin
References: http://www.economist.com/research/articlesBySubject/PrinterFriendly.cfm?story_id=15522452 http://www.artnews.com/issues/article.asp?art_id=1890 http://www.artmarketmonitor.com/2009/10/01/how-big-is-the-art-market/ http://nymag.com/arts/art/features/30620/ http://topics.nytimes.com/topics/reference/timestopics/people/b/diana_d_brooks/index.html |
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Kimberly Ann Phoenix It does not seem like the scandal have had a negative affect on the art auction. In November 2010 during the evening sale at Sotheby's the 49 lots sold for a total value of $222,454,500 (Ferreira). The evening sale at Christie's of 70 lots had a value of $272,873,000. The auction attracts big money and a group of buyers who like the thrill of the win. In the art world the auctions at Sotheby's and Christie's are the place to be, as pointed out in the reading from Monday a good seat is a coveted thing, this has not changed since the scandal. The major players in the scandal have all moved on and not into hiding, Alfred Taubman has written his memoir. At the book signing release he was surrounded by powerful people (Peers). Patricia Hambrecht is a mover and shaker in the jewelry world (Peers). DeDe Brooks retired to her Florida home but had recently been spotted at art auctions (Peers). Christopher Davidge is living well partly because of the severance package he received and moved on to speculating in contemporary Asian painting (Peers). The auction house is just one more way that people with money can purchase contemporary art work. Those with connection and relationship with dealers can purchase from the galleries other prefer the auction. The Auction houses have been around for over 200 years and if the resent sales are any indication they will still be around for a long time. http://findarticles.com/p/articles/mi_qa5377/is_201103/ai_n57241264/ |
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Consider & comment:
What did you think of today's readings and wiki features? What issues if any did they raise for you? How did the audio visual material provided support your understanding of this topic? Comment on your classmates' posts. Leave your comments in the box below.