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What a $32m dinosaur can tell us about this year's art auctions


MONEYWEB
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What a $32m dinosaur can tell us about this year’s art auctions
Although the top of the auction market is never a great indicator of how the art market is doing.
By James Tarmy, Bloomberg
20 Dec 2020 
00:38 
A Tyrannosaurus Rex dinosaur fossil know as Stan is displayed in a gallery at Christie s auction house in New York on September 17, 2020. Image: Spencer Platt/Getty Images
During a lovely spring week in May 2019, in what now feels like the halcyon days of pre-Covid life, seven paintings and three sculptures sold for a brisk $605 million.
Flash forward to this year, when it took 12 months and a 67-million-year-old dinosaur to amass top 10 results that still only managed to total $408 million. ....

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Auction houses embrace new era of digital platforms


By BO LEUNG in London |
China Daily Global |
Updated: 2020-12-18 09:41
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An employee looks at a painting by David Hockney entitled Nichols Canyon which has an estimated value of $35 million at Phillips auction house in London, Oct 29, 2020. [Photo/Agencies]
Auction houses have been forced to rethink their strategies with the novel coronavirus pandemic lockdowns causing postponement of sales events and clients no longer allowed inside bidding rooms due to social distancing measures.
Companies worldwide have turned to technology and online sales to help maintain contact with customers and to endure the unusual period.
Leading auction house Bonhams quickly implemented and adapted to new technologies. ....

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