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Jasper-Francis-Cropsey

The Heart of the Market

Published on December 15th, 2011 by Lou Salerno

Comments on the American Paintings Sales: December 2011

There is only one way to arrive at the “heart of the market”, to gain a genuine understanding of its nature and likely course. Many will doubt the credibility of the approach I advocate but the success of this gallery depends on it. I place my trust and faith in instinct, which I define as the summation of all the varied intellectual, psychological, and emotional indicators which inform a reliable understanding of that mystical entity we call, “the market”.  The use of traditional tools and methods such as buy-in rates, gross sales, averages, and medians, provide insight into a specific sale but are of little value in interpreting the greater and ever evolving overall market. …continue reading or post a comment

George Inness, The Sun

The Good, the Bad, and the Ugly: A Review of the Major American Paintings Auctions, May 2011

Published on May 26th, 2011 by Lou Salerno

American Art Auction Week showed improvements, records, and some downright disappointments.

The Westervelt Company (formerly the Gulf States Paper Corporation) sale of paintings generated considerable buzz in the weeks before Christie’s auction. Originally known as the Warner Collection, named after Jonathan Westervelt Warner—former chief executive of the company—included spectacular works by Frederic Church, Thomas Cole, Asher B. Durand, William Merritt Chase, and many other American superstars. Speculation escalated in the days prior to the Christie’s auction catalogue release with the question “Would Christie’s offer the Warner masterpieces?” on everyone’s mind.  …continue reading or post a comment

All In 2

Auction Action December 2010: Through the Eyes of a Dealer

Published on December 17th, 2010 by Lou Salerno

I eagerly awaited the December auction catalogues steadfast in the belief that great buying opportunities would exist as a result of the economic contraction. Auctions in the recent past offered little quality as collectors were reluctant to offer prized paintings in the heart of the recession, but this round had far superior selections––yet another indication that we are in the early stages of recovery. …continue reading or post a comment

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THE EIGHT DIGIT MASTERPIECE!

Published on May 27th, 2010 by Lou Salerno

Contemporary collectors voraciously bid for works offered at both Sotheby’s and Christie’s auctions this week, establishing a multitude of world records. The sales were just a fraction shy of perfection, with the sold rate exceeding 97 percent. Bids burst from every quadrant of the sales room as multimillion dollar results established the norm. …continue reading or post a comment