Auction Houses and Market Forces Shadow Venice Biennale
The 61st Venice Biennale, officially a non-commercial exhibition, is increasingly influenced by market forces. Artnet News host Margaret Carrigan highlights how auction houses are actively participating in the opening week. Separately, Sotheby's will stage a major single-owner sale in London this June, featuring works from billionaire Joe Lewis's collection, expected to exceed $200 million. Meanwhile, Whitechapel Gallery, facing financial strain, has created a new economist-in-residence position.
Key facts
- The 61st Venice Biennale is officially a non-commercial exhibition.
- Market forces are increasingly present behind the scenes at the Biennale.
- Auction houses are getting involved in the Biennale's opening week.
- Sotheby's will stage a single-owner sale in London this June.
- The sale features works from billionaire Joe Lewis's collection.
- The Lewis collection sale is expected to exceed $200 million.
- Whitechapel Gallery has created a new economist-in-residence position.
- Museums are grappling with ongoing financial strain.
Entities
Artists
- Lucian Freud
- Joe Lewis
Institutions
- Artnet News
- Sotheby's
- Whitechapel Gallery
Locations
- Venice
- London