Wednesday, July 5, 2017

Art: "NY Times Corrects List of Top Private Sales"

From Art Market Monitor:
The New York Times chose a strange way to publish a correction to its reporting two years ago that a Gauguin painting had been sold privately for $300m. A court case in London has shown that the painting was sold for $210m, a substantially lower but still phenomenal price.

Private sale prices are difficult to ascertain, with good reason. The parties who know the true price are very limited. But those who claim to know the price have several motivations that are not constrained by the truth....MORE (and a bit scathing, at least by AMM standards)
Here was our retraction/reaction to the news of the price discrepancy, last Friday:

For the record, here's how you do a 'Regret the error' .gif:
When a journalist accidently misquotes a source
That was from Party like a Journalist, last seen in 2014's "Upworthy Does a Correction On The McDonald's Chicken McNuggets Video" and appropriate here.
In January 2016 we posted Questions Americans Are Asking: "Are Paintings Pricier than Soccer Players?":
Okay, maybe not all Americans.
From The Creators Project:
In terms of money, 2015 was a great year for art. In February, Paul Gauguin's When Will You Marry? became the most expensive work of art ever when it sold for nearly $300 million (€275 million). A few months later, Les Femmes d’Algers (Version “O”) by Pablo Picasso set records as the most expensive painting ever sold at auction, when it was bought for $179 million (€164 million)....