Auction buyers are catching on to African-American art

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By Scott Reyburn, nytimes.com

“I don’t need to tell you, sir, how great this is,” said Sotheby’s auctioneer Oliver Barker last Wednesday evening, leaning over his rostrum and trying to coax another eight-figure bid out of the New York dealer David Zwirner for Kerry James Marshall’s 1997 masterwork, “Past Times.”

Moments later, Mr. Barker knocked the lot down to one of three telephone bidders for $21.1 million with fees. A wryly updated “fête champêtre,” showing black suburbanites relaxing in a Chicago park, had just set an auction high for any work by a living African-American artist. The painting was bought by the Grammy Award-winning rapper and music producer, Sean Combs, better known by his former stage names Puff Daddy and P. Diddy.

For many, this sale was by far the most significant moment in the latest biannual series of auctions of Impressionist, modern and contemporary art in New York. But what did it signify?

Read more at https://www.nytimes.com/2018/05/25/arts/design/art-market-african-american-art.html?module=WatchingPortal&region=c-column-middle-span-region&pgType=Homepage&action=click&mediaId=thumb_square&state=standard&contentPlacement=8&version=internal&contentCollection=www.nytimes.com&contentId=https%3A%2F%2Fwww.nytimes.com%2F2018%2F05%2F25%2Farts%2Fdesign%2Fart-market-african-american-art.html&eventName=Watching-article-click

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