Christie’s Mysterious New Blood

Courtesy Christie's, via ArtInfo.com Steven Pleshette Murphy: Christie's 1st American born CEO

Christie’s recent top management shuffle has inspired a good deal of speculation regarding the strategic intentions of owners, François Pinault and his investment firm, Groupe Artemis SA.  Does Artemis, which acquired the auction house in 1999 for $1.2 billion have secret plans to sell in the near future?

Sprung upon with announcements of a new CEO, Steven Pleshette Murphy, formerly president and CEO of Rodale publishing, and the promotion of former CEO, Edward Doleman to chairman, Christie’s execs can’t help but wonder what to expect next.

Kept secret until its announcement via a Sept. 20th e-mail to worldwide staff, the news apparently caused quite a shake up, not only because it was so sudden and unanticipated, but also because Murphy was chosen over seemingly more likely candidates like Marc Porter, the chairman of Christie’s America, and François Curiel, president of Christie’s Asia.

Artemis, meantime, denies all rumors of an impending sale, claiming it holds long-term plans for Christie’s which is, they say, one of their “strategic assets,” producing sales of $2.3 billion in the first half of 2010.

However, asked by ArtInfo’s Judd Tully about whether Christie’s has any more surprises in store, Murphy, Christie’s very first American born CEO, said, “There will be more to say in a few months.”

Feel Free to Match the Couch: A Guide to Buying Art Online

Popping up, all over the internet, like bald little mushroom heads in the corner of an overgrown garden, are dozens of buy-art-online sites. Their spores are in the air. There’s a new one every day, with offerings that cover the whole gamut of affordability, quality and snob appeal.

It’s time to match the couch, my friends — shamelessly, and in the privacy of your own homes; the way you shop for porn.

BZA CO

Art Market Recovery: Tracing Improvements

$48 Mil in 2009 for Raphael's Head of a Muse

As I continue to study the art market’s very slight, but seemingly strong rebound, I will continue to compile reports which should lend insight, not only to the workings of the art market as it improves, but to trends that should grow out of this latest bubble burst. What follows are some things to look out for and what they mean for the future.

1998 NOSE DIVE: STATS SHOW HINT OF RECOVERY

There’s a lot of talk about art market recovery, especially as generated by the auction houses. And each time a record hammer price is hit (like Tuesday’s $106.5 million Picasso’s 1932 “Nude, Green Leaves and Bust.”), the media jump on it, eager to announce that it’s a sign that the market is recovering. But we’ve really become very excited over the teeniest hint of growth, as you can see by this nifty chart that I frankensteined together from three Art Price.com charts.

Only the Contemporary art market shows notable recovery

WALL POWER

The Picasso, on sale at Christie’s onTuesday, is “poised to eclipse the $104.3 million paid for the current record holder, Giacometti’s “Walking Man I” purchased at Sotheby’s in February.