Tag: auctions

Italian artist auctions off invisible sculpture

In May, Italian artist Salvatore Garau sold his “immaterial sculpture” I Am at an auction. The invisible piece of art consists literally of nothing. Even though the work has no material existence, the Art-Rite auction house estimated its value at between €6,000 and €9,000 (that is, between approximately $7,000 and $11,000). During the auction, bidders pushed the price up, and Garau walked away with €15,000 ($18,300).

In exchange for this sum, the buyer—a private Milanese collector—of the putative work, the latest version of the Emperor’s New Clothes, received a certificate of authenticity and the artist’s instructions for displaying the sculpture.

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Amid art world slowdown, digital auctions save the day

According to the Artprice 2020 Art Market Report, the cancellation of fairs, exhibitions and sales since March last year has impacted the art industry at large. But unlike museums, which have suffered the full impact of Covid-related restrictions, auction houses quickly found ways to preserve the core of their activities thanks to digital technology.

In the case of Mumbai-based online auction house AstaGuru, which has been online since its inception, the connection with their target audience was not lost.

“Owing to this we were able to stay connected with our target audience/collectors and stay relevant in the current times. Our

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