Sothebys Is Shaping Up For A Strong Autumn, Get Ready For The Taubman Collection

According to a recent Barrington Research note, the U.S. high‐end art market seems to be holding up well, despite the recent volatility seen in financial markets.

Moreover, concerns about Hong Kong auctions, scheduled to kick off on October 3, were somewhat soothed by the results seen in last week’s Asian auctions in New York City, where Sothebys managed to sell $27.4 million in items, getting close to the higher end of its guidance.

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Bright Outlook

While the current economic situation in China and the devaluation of the yuan cannot be completely disregarded, Barrington highlighted that this year’s Hong Kong auction supply widely surpasses last year’s levels.

In addition, Koerber noted, the fall auction supply also looks quite strong. The auctioneer won a few major consignments for the period, including the A. Alfred Taubman collection, which comprises more than 500 pieces of work from renowned artists like Willem de Kooning and Amedeo Modigliani and is valued above $500 million.

Disclosure: Javier Hasse holds no stakes in any of the securities mentioned above.

Image Credit: Public Domain