Art24seven.com

[Jun 2008]	Source: Art Market Insight	Art investment
Raining records in London [Jun 08] In London, the European capital of the art market, Sotheby's and Christie's have once again confirmed the good health of the top end of the market. The Impressionist and Modern Art Evening Sale of 24 June at Christie's generated £144 million ($284 million), the largest sales volume ever posted by a European auction. The following day, Sotheby's took £102 million, exceeding its aggregate high estimates by 7 million. Both houses posted a host of new records. 8 at Christie'! The one that attracted most attention was Christie's sale of La Bassin aux Nymphéas by Claude Monet. Dating from 1919, this giant format painting is one of only four comparable works by the artist, one of which belongs to the Metropolitan Museum of Art in New York. Acting on behalf of an anonymous client, Arts and Management International put in the final bid at £36.5 million ($71.8 million). The painting, considered one of the most important of Monet's later works, came from the collection J. Irwin and Xenia S. Miller. This new auction record for Claude Monet is also a new record for the entire Impressionist category which had been held by Auguste Renoir since May 1990 when his famous Au Moulin de la Galette fetched $71 million. In fact, the price index for the Impressionist category is today 13% higher than in 1990 when the art market was at the top of its last speculative bubble. In total, 20 out of 136 lots remained unsold, representing a bought-in rate of less than 15%. This proportion is particularly low, even for such prestigious sales. By comparison, the New York Impressionist and Modern Art Evening Sales in May generated a bought-in rate of close to 23%. In London, a large majority of the lots were acquired by European buyers (70% at Sotheby's). Christie's skilfully oriented its programme towards the 'emerging' art collectors with several major works by Russian artists. Paintings by Vladimir Baranoof-Rossiné, Vera Rockline and Natalia Goncharova all set new auction records for the artists. With a final bid of £4.6 million ($9.6 million) for Les fleurs, Natalia Goncharova is today the "most expensive" female painter on the art market.

[July 2008]	call for artists
art24seven is opening its first Gallery in Scotland. Artists, if you would like to submit work for consideration please contact fiona@art24seven.eu.com attaching images of your work. art24seven King Street Gallery 63 King Street DUNDEE DD5 3UL Tayside Scotland

[July 2008]	art24seven membership
All 'free submissions' (Guest membersip) has now ended but for a limited period only we are introducing a special rate - a 'one off' of just £50/$100/€60 for all new artist members. This will not change over the lifetime of this Take advantage of this special rate now by registering and submitting your work in the first instance. Pay nothing until you are totally satisfied. Pricing structure will revert back to annual fee to new members joining us after this time as advertised here: http://www.art24seven.eu.com/site_scripts/local/register/summary.html