Updated

Updated · artnet News · May 11

New York Art Market Faces $1.8 Billion Auctions as Frieze Opens With 68 Galleries

Updated

Updated · artnet News · May 11

New York Art Market Faces $1.8 Billion Auctions as Frieze Opens With 68 Galleries

1 articles · Updated · artnet News · May 11

$1.8 billion of art is headed to auction in New York this week as Frieze New York opens to VIPs on Wednesday at the Shed.
Sotheby’s starts the major sales on May 14, led by Robert Mnuchin’s monumental Rothko, which carries a $70 million to $100 million estimate.
May’s auctions are set up as a test of whether the market momentum seen in November can hold through a heavier spring selling season.
Banksy will also hit the block with one of the highest estimates ever attached to the street artist, while Robert Therrien’s estate has left Gagosian after nearly 30 years for David Zwirner.

Sources

A Rothko may fetch $100 million. What truly determines a painting's astronomical value?

As trophy art prices hit new highs, is the broader art market facing a silent crisis?

With billions chasing masterpieces, where can collectors find the art world's next big names?

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