According to the Wall Street Journal, the current market slump, which has seen auction sales fall substantially from 2015 to 2016, was caused by the garden leaves of so many departed auction house specialists last year from both Sotheby’s and Christie’s. Deprived of their big game hunters, the auction houses have had to “make do with smaller, less expensive offerings—and that haven’t generated much excitement among major collectors.”
The Journal neatly offers the evidence, above, showing the 28% decline in the number of lots over $1m even though the total number of lots only fell 2%. make do with smaller, less expensive offerings—and that haven’t generated much excitement among major collectors.
Christie’s lost about 28 business-getting experts over the past year—including the New York heads of its major impressionist, modern and contemporary art departments. Sotheby’s was hit just as hard, losing high-profile deal-makers like Cheyenne Westphal to Phillips and Alex Rotter to Christie’s. These salespeople have spent years nurturing ties to billionaire collectors, and while they sat on the sidelines, fewer $10 million-plus artworks filtered into the auction pipeline.
There’s another way to look at this phenomenon which we discuss in this post for AMMpro subscribers. But let’s follow the Journal’s logic to its conclusion. According to the business paper, the return of these specialists to active duty at their new firms, combined with what might be strong sales in London this week and next should lead us right back to art market nirvana:
If those sales go well, expect the market to start recouping its 2016 sales declines quickly—and begin cycling back to its 2014 peak of $15.1 billion in sales.
YouTube will soon offer a streaming TV service for people who don't want to pay for traditional cable.
Google(GOOG) launched YouTube TV on Tuesday, which will cost $35 a month and offer access to content from broadcast networks as well as YouTube.
YouTube CEO Susan Wojcicki said people around the world watch one billion hours of YouTube content each day, and younger generations don't want to consume television through traditional channels.
You'll now be able to watch shows from over 40 networks including ABC, CBS, FOX and NBC, as well as Bravo, FX, ESPN and Fox Sports.
Along with the cable channels, users can also watch shows previously only available on YouTube Red, the ad-free YouTube subscription service.
YouTube TV will work seamlessly on your TV, desktop, and your mobile device, the company said. It will also feature an unlimited DVR that never runs out of space.
The service will compete with other streaming TV services including Sling TV, AT&T's(T, Tech30) DirectTV Now, and Sony PlayStation Vue.
To use the service, you need a Google Chromecast (or a TV with Chromecast built in). The YouTube TV app functions as the remote, and you can search by show or by topic. For instance, searching for "geeks" will turn up CBS' "The Big Bang Theory."
Even as more companies start to offer streaming options for stream cable TV, consumers are increasingly turning to online services that produce original programming and distribute older TV shows and movies.
Original TV and film has proven successful for internet giants. Amazon(AMZN, Tech30) and Netflix(NFLX, Tech30) invest heavily in their own content, and films from both companies won Oscars on Sunday. Netflix says it will spend $6 billion on original programming this year.
YouTube Red also features original programming. Many of the celebrities on YouTube Red originals became viral sensations on the platform before snagging contracts with the company.
But YouTube's original programming is still far from the Academy Award-level content on Netflix and Amazon.
TASCHEN Gallery is pleased to announce the opening of Heimat, an exhibition of new photographs byEllen von Unwerth.
A possibly untranslatable German word, Heimat expresses a deep feeling of belonging and connection to one’s homeland. Revisiting her home state of Bavaria in southern Germany on and off over a year long period, von Unwerth’s enchanted new series captures a squad of local girls getting back to nature in every sense. Amid the region’s undulating fields, age-old traditions, and deep, mysterious forests, the girls happily discard their dirndls and run riot across the Alpine countryside. Von Unwerth’s heroines demonstrate the attributes and attractions of the Bavarian region, whether indulging in local delicacies, striding out across pristine pastures, or seducing lederhosen-clad farmhands and each other.
Blending old-world charm with a rebellious edge and a sly subversion of traditional gender roles, the photographs burst with fresh, provocative eroticism, tied up with wit, and laced with an abiding love for a proud and beautiful land. The exhibition is accompanied by a 454-page signed and limited TASCHEN Collector’s Edition book of the same name.
The exhibition also showcases a curated selection of iconic Ellen von Unwerth photographic prints from throughout her career in collaboration with the Fahey/Klein Gallery.
TASCHEN Gallery 8070 Beverly Blvd. Los Angeles, CA 90048 Tue-Sat: 11am to 7pm, Sunday: Noon to 6pm, Monday: Closed
Ellen von Unwerth worked as a top fashion model before becoming one of the world’s most in-demand fashion photographers and directors. Her editorial work has been featured in publications such as VOGUE, Interview, and Vanity Fair and in major advertising campaigns for Chanel, Dior, John Galliano, Ralph Lauren, Victoria’s Secret, Agent Provocateur, and Diesel. Her erotically charged images of supermodels and female musical artists play on the genres of revenge photos and glamour shots, producing work that is decadent yet kitsch, romantic but sexy, and always filled with joie de vivre. TASCHEN books on Ellen von Unwerth include the forthcoming publication Heimat, Fräulein and The Story of Olga.