Tuesday, October 29, 2013

Saatchi's Thinking BIg auction fails to fire

In a report on Charles Saatchi's Thinking Big auction staged by Christie's, the Financial Times says the collector "took a sledgehammer to prevailing notions of how to sell work by emerging artists." The no-estimates, no-reserve approach to the auction of 50 large works from his collection delivered poor results for many artists and dealers were appalled by the everything-must-go strategy. It was a "strong-arm tactic" says Simon Lee whose gallery represents one of the artists in the sale, a tactic designed to force dealers into bidding to support their artists' prices. Read more...
Image: Charles Saatchi