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A Midseason Art Market Vibe Check

A quick look at the numbers from New York’s midseason contemporary art sales suggests the market is improving slowly but surely. More money was spent in this year’s sales relative to last year, and the indicators were broadly healthy—even if the sales provided little in the way of excitement.

ruth asawa
Among the top 10 lots by price during the midseason market, only two works—by Ruth Asawa and Fernando Botero—had dynamic bidding. Photo: Giuseppe Cottini/Getty Images
Marion Maneker
October 6, 2024

At first glance, the midseason sales in New York would not seem to be a signal of much market confidence. These sales can be a grab bag of works brought to market to measure collectors’ appetites and leftovers from big estates. The sales themselves are a good place to take the temperature of the market—here’s where business gets done in a way that isn’t really masked by guarantees or anyone protecting a market—as well as events that are otherwise hard to generalize. That said, let’s give it a try.