The Armory Show this past weekend in New York City has reported that there is still life in the art scene. The show surpassed expectations, especially in this depressed art market, with a report of solid sales and better attendance than last year. At the invitation only opening day, March 4th, sales were happening. Within the first hour transactions ranged from a Sigmar Polke selling for $340,000, a Tom Wesselman selling for $40,000 and a Louise Bourgeois selling for $ 1 million. And to encourage us even more.....some booths sold out their entire contents. Reports say that most sales occurred during the first day but steady sales continued through the entire fair. As reported in Bloomberg, Warren Eisenberg, co-chairman of Bed Bath & Beyond Inc, stated, “We are probably going to buy fewer pieces this year than we did last year. It’s like an alcoholic who says he’s stopped drinking.” Could this be an indication that the art market carries on??? Let's hope so.
Barbara Fosco
