The Race to Find New Art Collectors
THE WALL STREET JOURNAL
By Kelly Crow
In early May, Christie's invited a group of 18 new collectors from China to visit New York. The auction house threw the guests a lavish dinner at its Rockefeller Center ballroom, escorted them on guided tours through the Museum of Moden Art and arranged VIP tickets to a local art fair. Christie's efforts paid off: During its May 13 contemporary art ales, members of the grip placed bids on at least half the top 10 priciest pieces in what became a historic $745 million auction. [link]
A quarter of all art-auction sales were made to first-time buyers this year. An inside look at Sotheby's and Christie's global quest to identify and recruit them.
By Kelly Crow
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| Korean collector Hong-gyu Shin bid on a $142 million Francis Bacon, but lost Nicholas Hunt/Patrick McMullan |
A quarter of all art-auction sales were made to first-time buyers this year. An inside look at Sotheby's and Christie's global quest to identify and recruit them.
