The auction of art is a popular means for artists to sell their works. While many auctions are focused on traditional artists, some are now expanding their offerings to include emerging artists and trending artists. These artists are often stalked online, have an impressive following, or are popular in a certain art media. Hot art is measured by how quickly it sells and how long buyer waiting lists are.
In recent years, major private deals of masterpieces have been on the rise. One such acquisition was made by billionaire J. Tomilson Hill, a former chairman of private equity firm Blackstone. Hill bought Caravaggio’s Judith Beheading Holofernes for $170 million.
The art auction proceeds go to local conservation groups. This year, proceeds will go to the Carolina Mountain Club, the Asheville GreenWorks, and the Appalachian Trail Conservancy. The proceeds of the art auction will help these organizations protect the beauty of our mountain environment. In addition to supporting local conservation groups, proceeds from the auction will benefit local nonprofits. It will also benefit local arts and culture organizations, including the Appalachian Trail Conservancy and RiverLink.
The auction of art also provides a valuable context for dialogue between collectors and antiquities. In the eighteenth century, a cultural climate of strict papal export rules restricted the flow of antiquities to England, making the auction a more accessible space for collecting antiquities. It also allowed British collectors to insert themselves as inheritors of a classical tradition.