Art News

Compared to the $24 trillion US stock market, Sotheby's is relatively small, a public company valued at just $1.9 billion. But its stock is watched well beyond the art world. Indeed, a dip in Sotheby's stock has an uncanny record of signaling danger in the broader economy—and the New York auctioneer's shares are down 38 percent since June, to a three-year low. Should we be worried? Here's the record.,/p> Back in October 1989, Sotheby's shares reached a new high, fueled in part by Japanese buyers paying records for Impressionist paintings. After that milestone, the stock lost two-thirds of its value...

When artist Arpita Singh’s daughter Anjum was in school, the two would make up many stories to tell each other. Some of them are still part of their conversations 40 years later. “Toby was one such character we made up,” says the 78-year-old, New Delhi-based artist. “He would get up to all kinds of mischief. I made small books about Toby for Anjum and even wrote ‘Winter Poems’ by Toby. When my daughter got her report card, I had to make one for Toby, too—he wasn’t very good at studies,” she laughs. Toby came up recently when Anjum, now 48...

Art may be a good asset to own if you enjoy it. But if you’re only looking to speculate, think twice Contemporary art, pink champagne, gemstones — it is always tempting to believe that hiring professional managers to select exotic investments such as these can yield far better returns, than investing in boring old bonds or equity. But the experience of investors in Indian art funds floated 10 years ago tells us that when it comes to investments, it is sometimes better to stick with the boring. The story of the rise and fall of art funds can be pieced...