Best article i have read in a long time, check out the link below!
Wynn Some, Lose Some: Kenny Schachter on the Parade of Art and Depravity at New York’s May Auctions
Following a $3 billion spree of art auctions, artnet News’s columnist shares his stories from the sales floors—and it’s not (all) pretty.
By: Kenny Schachter, May 23, 2018
" think what freaks people out is when a supposedly un-choreographed auction turns into a prearranged marriage via an endless stream of guarantees. And the air is thin at that altitude, though perfectly pleasant for the likes of Yusaku Maezawa, who dropped $18,856,500 on a Rothko work on paper (no less) against an estimate of $7 million to $10 million."
" There is so much art I can fall in love with, even at Phillips, that I let myself off easy by not buying anything (if I did at this stage, I’d need terms… for life). When I arrived back in London, there was a lone sneaker circulating on the baggage conveyor belt. Though I didn’t lose an arm or leg, I was lucky to get out with my shirt on. Don’t get me wrong, even without art-world Viagra (crime and guarantees) the art market would be as firm as Tom Wesselmann’s forever-erect penis (sold at Christies for $93,750, est. $40,000-$60,000), and it won’t subside anytime soon."