Top auction houses to put art market rally to test

LONDON (Reuters) Auction houses pinching themselves after bumper 2011 sales are now turning their attention to 2012, canada goose amid cautious optimism that the two year bull run for top works of art will continue.

Sotheby’s employees move Jean Michel Basquiat’s “Orange Canada Goose Outlet Sports Figure”, canada goose uk outlet past Takashi Murakami’s “open Your Hands Wide, Embrace Happiness!” (L) Canada Goose online and Cindy Sherman’s “Unititled 421” at Sotheby’s auction house in London February 1, 2012. REUTERS/Luke MacGregor

Sotheby and Christie the world leading auctioneers, hold a Canada Goose Jackets series of big sales in canada goose factory sale London over the next two weeks at Canada Goose Coats On Sale which the old rivals expect to raise more than 500 million pounds.

This time last canada goose black friday sale year the equivalent auctions fetched a combined total of around 425 million pounds, although that was inflated by Sotheby one off Closely sale that took in a hefty Canada Goose sale 93.5 million.

Anders Petterson, managing director canada goose clearance of the ArtTactic analytical group, said there was quiet confidence that the art market could shake off broader economic blues in 2012.

the tone is neutral with a positive bias, he told Reuters, summing up the findings of ArtTactic Market Outlook 2012 report released last week.

something really major happens in the (financial) markets then all bets are off, but if canadian goose jacket things stay uk canada goose outlet as they are we are likely to see a continuation of current levels.

auction houses will focus on the very top end and the very rare works of art for which there will be people with the money to buy no matter what cheap canada goose uk happening on the markets.

After a sharp contraction in late 2008 and throughout 2009 in the wake of the financial crisis, canada goose uk black friday art sales have soared in 2010 and 2011.

Christie the world largest auctioneer, sold art worth 3.6 billion pounds last year, a record in Canada Goose Online sterling terms. The figure was nine percent higher than 2011, and up 14 percent in dollar terms to $5.7 billion.

Super wealthy collectors from China have joined the art elite, which now unites established markets like the United States and Europe with relative newcomers from Russia, India, my website the Middle East and beyond.

Auction houses have tried to focus on high quality paintings and sculptures that rarely, if ever, come to market, and the policy canada goose coats has paid off in recent years.

Although the performance of artists and cheap Canada Goose ultra rare works distorts the overall picture of the art canada goose clearance sale market, there is some down effect to lower priced works, experts say.

And with uncertainty surrounding bonds, currencies and stocks, headline grabbing sums for art are making investors think hard about alternatives.

Booming art demand buy canada goose jacket from China may cool off, however, with recent rapid growth seen as unsustainable in the short term.

Among the London highlights is Christie of Henrietta Moraes a female nude by Francis Bacon, which is expected to fetch around 18 million pounds on February 14.

The record for canada goose uk shop the artist stands at $86.3 million set by Sotheby in New York in 2008 for a triptych.

A week earlier, at its main impressionist, modern and surrealist auction, Christie hopes to Canada Goose Parka raise between 12 and 18 million pounds for Juan Gris Cubist still life Livre and 6 9 million for Joan Miro

On February 8 at Sotheby another important Miro goes under the hammer, estimated to be worth 7 10 million pounds and not far off the artist auction record of $17.1 million buy canada goose jacket cheap set canada goose store at Christie in New York in May, canada goose coats on sale 2008.

Several works by Gerhard Richter, both abstract and figurative, feature at Sotheby contemporary art sale alongside Jean Michel Basquiat Sports Figure valued at uk canada goose 3 4 million pounds.