According to several artists and art dealers, the market for works of art is slowly picking back up after the lag during the economic recession. While business is nowhere near as good as it was before 2008, collectors are starting to buy again, even if it is after much more consideration than it used to be. This is a promising thought - with the economy (somewhat) on the rebound, artists will benefit along with everyone else. Join discussion...

This is an interesting New York Times opinion piece about current sales of conceptual art, but artist Damien Hirst, and it's "value". A good read. Join discussion...

The auctions of 2009 have prices that have dropped at auctions. The economic crisis has families reluctant to sell their valuable works at this year's falling prices. The auction houses find it difficult to get material, though pieces are definitely selling. "Man in Blue VI" by Bacon from 1954 is selling for an estimated 4 to 6 million pounds. Join discussion...

Following a record auction sale by Damion Hirst, now the art market sales are going down. According to Christie's, "masterpieces are seeing excellent prices, but sales will be more difficult for less exceptional works or those believed to be over-rated." Join discussion...

This article says that as the global markets fall, the pricing of some artworks is going up. This is especially obvious in the Southeast Asian countries. It goes futher to state the galleries and exhibitions open that are selling various artworks. Join discussion...

A man in Australia has been accused of auctioning works from his own collection and then buying them back. This is considered market manipulation. Mr. Menzies, the man accused, has made millions of dollars through his buisness. He denies everything, but has made a few changes to how he runs his buisness. Join discussion...

In India, contemporary art has experianced an increase in prices, while the modern art market is dropping. In fact, there is 32% more confidence in the contemporary art market than in modern. In the past, most auction houses in India have put the two kinds of art together as a single genre, but now, and the market growth is changing, they are divided into two groups. Indian comtemporary art has experianced a major growth spurt in past years. This growth shows how global contemporary Indian art is, while modern art is mostly only purchased locally. The business of modern art is not supposed to lag behind for long though. And there are many suspisions that the art market in India might lose some major points in upcoming months. Join discussion...

The article is about the fact that the recent art market boom has caused serious price manipulation for peices of art to the point that it is several years ahead of were it should be and that if it continues that the prices inthe art market will need to be rewound possibly causing artwork to be devalued in the process. Join discussion...

A faberge egg that was owned by the Rothschild banking family became the most expensive lot ever sold at Russian auction sold in London. The egg is gold and enameled and sold for about 8 million pounds or 16.5 million dollars. It was made in 1902 as an engagement present to Baron Edouard de Rothschild. The faberge egg has a clock and a diamond-set cockerel that pops up every hour and flaps its wings. Alexander Ivanhov, the director of the Russian National Museum, who bought the egg said that it is returning back to Russia to put in his wonderful faberge egg collection. Join discussion...

Sotheby's Inc., an art and antique auction house in New York, lost money last week in an Impressionist and Modern Art auction. The company's estimate of the profits was $355.6 million to $494.2 million, but the auction only yielded $269.7. The company lost money because the auction house often promises to buy a painting if no one else will and was forced to pay $14.6 million buying works that did not sell. This was a result of failing to command any bids for a van Gogh, four Picassos, a Renoir and a Gauguin. Bank of America Securities Analyst Dana Cohen said that she knew the high flying art market would have to fall back to earth eventually. The Contemporary Art Auction this week fared far better than the Impressionist and Modern Art Auction. The Contemporary Art Auction ringed up $316 million in profits, exceeding expectations. Join discussion...