![]() ![]() 000000007% of the world’s population drive prices at the highest end of the market. For collectors, owning a celebrity work delivers a jolt of status.Ĭontemporary appeal is a function of whatever is in vogue among the world’s 50 largest collectors. Some celebrity works are also significant. Pictures like Andrew Wyeth’s Christina’s World (1948) at MoMA or Maxfield Parrish’s Daybreak (1922) attain a level of populist appeal that far outstrips their art historical influence. ![]() University of Chicago economist David Galenson, who studies the art market, told me that “pictures that have the greatest influence on the practice of other artists and the culture at large become canonized and sell for the highest prices.”Ĭelebrity is even simpler. Historical significance is really a matter of influence. The pictures that came up again and again shared three characteristics: historical significance, celebrity, and contemporary appeal. museums they most want to own, and how much they would pay to own them. So what are the masterpieces lining museums’ walls worth to the people who could actually afford them? As a thought experiment, I asked several of the world’s great collectors and dealers (our clients) which pictures in U.S. You’ll get either an unsatisfying “priceless” or “incalculable,” or a remember-the-good-old-days talk about how art has become commoditized. Don’t believe me? If you get a chance to meet a curator, ask how much one of her museum’s great pictures is worth. For them, art is supposed to exist beyond economics. ![]() But museum officials I know are still annoyed by the whole saga. The picture ultimately found its way to the Louvre Abu Dhabi after the Saudis reportedly flipped it for a mega-yacht, so I guess you can score one for the museum-going public. That a Russian oligarch had consigned the picture expecting to sell it at a loss (in order to bolster his court case against a Swiss freeport-owning art dealer), but unexpectedly reaped a $300 million gain, reveals an interesting truth: The highest segment of the market is often more about the rivalry and whims of a tiny group of billionaires than it is about the actual art. 1500), was due to a vanity war between the Saudi royal family and the de facto ruler of the United Arab Emirates, who both mistakenly thought they were bidding against their art-collecting Gulf rival, the Qatari royal family. Whether you are looking to sell one piece, an entire collection, or to make a private sale, Susanin's Auctioneers & Appraisers offers you superior service, careful attention, & candor.every time.It has been reported that the $450 million price of the rediscovered Leonardo da Vinci, Salvator Mundi (c. Holding over fourteen auctions a year in a 40,000 square foot gallery space, Susanin's accommodates both the consignors & the customers uniquely designed value propositions.Īuctions at Susanin's feature English, American, Continental, & Asian Furniture & Decorative Art, Fine Art (from paintings to prints to sculptures), Silver, Rugs, Fine Jewelry, Couture, Coins, Ephemera, Accessories, Collectibles, & more. Susanin's provides appraisal services, a dedicated, informed team of consignment specialists, & an unforgettable live auction experience. Based in Chicago, Illinois, Susanin's offers a number of transactional services to individuals, families, estate holders, wealth managers, art consultants, dealers, collectors, bankers, lawyers, numismatists, jewelers, & beyond. For over twenty-five years, Susanin's Auctioneers & Appraisers has been serving an international market of buyers & sellers.
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