The Art Trade Is Taking Calculated Risks With A.I.
In an Artnet News “Art Market Minute” item, writers Sonia Manalili and Margaret Carrigan reported that art-world uses of A.I. remain cautious because trust and relationships still drive many transactions, though experts say the technology may increasingly help smaller galleries access tools once limited to larger firms. The piece said many current A.I. applications are aimed at newer collectors rather than seasoned buyers. It also noted the auction app Fair Warning is launching a sealed-bid private-sale format called “No Warning,” in which works appear without advance notice and buyers can either pay a fixed price or submit one binding bid without seeing competing offers. The article further cited a Sotheby’s New York sale of the Jean and Terry de Gunzburg collection that set a U.S. record for design auctions at $96 million, led by a set of 15 mirrors by Claude Lalanne for Yves Saint Laurent that sold for $33.5 million.
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This story was covered in Basel Clamps Down as A.I. Rewires Art