Are Art Auction Houses Mocking Art Buyers? – artmarketblog.com Not only does there seem to be the potential for art auction buyers to be influenced by incorrectly categorised and catalogued works, but apparently some auction houses now appear to conducting
are looking for something very specific to be offered a range of related objects is something that I have no problem with; Phillips often hold themed sales such as their music themed sales. I do, however, have issues with a blatant marketing tactic being masked as a cultural and curatorial exercise, which appears to be what has taken place with the Phillips De Pury “Carte Blanche” sale. Philippe Segalot, the so called “curator” of the sale, is quoted as saying in a Phillips De Pury press release that:
“I have always been interested in the concept of curated sales, where the artworks are selected not for their market value but for their artistic quality, historical importance and coherence within the group. Here, I tried to push this idea further by bringing together a small “collection” comprised of my favourite works by my favorite artists. The result is a true self-portrait, a close representation of my life as an art lover, an art collector and an art advisor.”
To begin with, I have a problem with the notion that such a wide range of Segalot’s favourite works from his favourite artists just happened to be available for sale at the right time. AmI really to believe that the owners of Segalot’s favourite works of art were for some reason willing to sell those works just because he asked nicely? Phillips De Pury mentioned in the same press release that I got the above quote from that “He (referring to Segalot) has developed the Carte Blanche sale with the same focus and attention to quality that a private collector would develop their own collection”. So, Segalot spent 50 years putting this sale together did he? Secondly, I have a problem with Segalot suggesting that the mechanics of the sale were not financially motivated – I mean why else would an auction house hold such a sale? It is not as though the sale had any art historical or cultural significance, yet Segalot seems to be suggesting that it does. Thirdly, and perhaps most importantly, I have a huge issue with Phillips De Pury suggesting, in my opinion, that buyers need someone like Segalot to tell them what they should be buying. Because the auction houses seem to be making such an effort to dictate buying trends, there is a huge risk of the works associated with these trends dropping in value significantly when the auction houses move onto promoting the next profitable trend. I believe that the more the decision of what to purchase is taken out of the hands of the collectors and investors, the less stable and sustainable the art market becomes. The reasoning behind this philosophy is that collectors (and even investors) create and strengthen long term trends whereas the market is interested in making as much money from whatever trend seems most profitable at the current time.
The reason that I have such a problem with the developing and strengthening trend of auction houses dictating what art people