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Among recent reports of the art market softening and mixed sale results at auction week, there is still strong bidding for top quality works, rare works and works fresh to the market, indicating that many buyers are still active if selective. While the fervid speculative buying of recent years seems to be on the wane and Asian buyers’ presence is suddenly less pronounced, a strong core of committed, educated buyers are still active for the right works.

The major battle at the moment seems to be around convincing owners to consign and to consign with the right reserve to create competition in an environment where they might feel they risk getting less than they could.  In London’s top commercial galleries, meanwhile, there are whispers of staff leaving and not being replaced, particularly among multi-location galleries whose main location is in the United States, indicating that activity among the buyers the London outposts were founded to chase is lessening or not living up to its initial promise.
By Lacey West

Having completed her MA in Contemporary Art at Sotheby’s Institute of Art in London, American-born Lacey West then spent five years managing commercial galleries.

Lacey set up LWAI in 2010 to offer a professional recruitment service to employees and employers in the art community.  Ever since, LWAI has placed hundreds of carefully-selected skilled candidates from art backgrounds with clients who value their honesty and integrity. 

For more information, see here.

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