Art Market Sees Record Sales and Controversy in 2023
• The Fineberg auction flop at Christie’s signaled the depth of the art market correction, with unsold works and firesale prices even for typically strong performers.
• Sotheby's purchased the iconic Marcel Breuer-designed building that housed 3 major NYC museums for over $100 million, planning to move its galleries there in 2025.
• The record $202 million Christie's auction of the Heidi Horten jewelry collection sparked outrage when the Nazi roots of the fortune used to acquire it were revealed.
• Christie's November sale marked the retirement of star auctioneer Jussi Pylkkänen after 38 years, while Sotheby's introduced the charismatic Phyllis Kao as an evening sale auctioneer.
• Two of the world's most expensive painters, Peter Doig and Gerhard Richter, made high-profile gallery splits from longtime dealers in moves suggesting artists are increasingly calling the shots.