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Sotheby's Record Jewelry Sale in Geneva, Lyon & Turnbull and Freeman's Inaugural Hong Kong Auction, and More

Art Market News and Analysis
Wednesday, May 25, 2016


Christie’s, Sotheby’s, Phillips See Definitive Shift in May Sales

by Meghana Reddy • A definitive shift in the auction market was obvious in the results of the May sales season in New York that ended on May 12. All three major players experienced contractions in sales across categories, and aggregate sales last week, which totaled over a billion dollars, were more than 50% down from the same period last year, and closer to the numbers from 2010-2011 (unadjusted for inflation).

Visual Arts

Artist Dossier: Gego

by Hilarie M. Sheets, Art+Auction • The Hamburg-born Venezuelan artist, Gertrud Goldschmidt, who was always known by her childhood nickname, Gego, pioneered an approach to drawing in space by connecting networks of metal rods and wires in precarious balance. Today, her works are finding a resonance with collectors who have been driving the prices for her sculptures into the upper six figures since they first crossed the $500,000 mark at auction in June 2010, when one of her 1969 Reticulárea works in stainless-steel wire sold for £337,250 ($507,831) at Sotheby’s London.


Lyon & Turnbull and Freeman’s Collaborate for Inaugural Hong Kong Auction

by Samuel Spencer • Auction houses Freeman’s and Lyon & Turnbull have teamed up to hold their inaugural Hong Kong auction of Chinese Works of Art on May 31 at Liang Yi Museum.


Pink Diamonds Push Sotheby’s to $175.1 Million Record for Any Jewelry Sale

by Mark Beech • Pink and colored diamonds sold for records as Sotheby’s latest Geneva sale on May 17 raised $175.1 million, the highest ever for a jewelry auction.

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