Full Story
In the battle for business between auction houses and the art trade, both dependent on dwindling supplies, some dealers are exploiting art fairs with extraordinary effect. Strengthened by selling shows in galleries and prolonged by the activity they later generate, the best art fairs far outshine what auction houses offer.

During last month’s Asian Week in New York, Chinese art offered at Christie’s on March 29 and Sotheby’s a day later compared well with what was on view at the Asian Art Fair, held in the Seventh Regiment Armory on Park Avenue. Selling shows organized across town by American and European dealers, however, tipped the scales heavily in favor of the art trade.

A few magnificent lots at the two auction houses were not enough to restore the balance. At Christie’s, a mid- 14th-century blue and white bottle in the shape of a double gourd, one of only two known such pieces, shot up to just over $2 million. At Sotheby’s, a squat blue and white jar, early 15th century, brought $4.72 million.

Posted: 04|22|06 at 10:09 am. Filed under: Auction News.