The art auction boom in figures

The First Art Newspaper on the Net    Established in 1996 Wednesday, May 8, 2024


The art auction boom in figures
Georgia O'Keeffe, Jimson Weed, White Flower No. 1 1932. Crystal Bridges Museum of American Art (Arkansas, USA) © 2016 Georgia O'Keeffe Museum/ DACS, London.

by Jean-Philippe Chognot



PARIS (AFP).- Leonardo da Vinci's "Salvator Mundi" smashed the world record for the most expensive artwork sold at auction, more than doubling the previous record set by Picasso's "The Women of Algiers (Version O)".

Here are key figures on the booming art auction scene.

$450.3 million
"Salvator Mundi" (Saviour of the World), which sold for $450.3 million (400 million euros) at Christie's in New York in November 2017, was officially acquired for the Louvre Abu Dhabi but has not seen in public since its auction.

The Wall Street Journal reported later that the painting may have been bought on behalf of Saudi Crown Prince Mohammed bin Salman.

32
Thirty-two of Pablo Picasso's works have gone under the hammer for more than $30 million, with 14 fetching more than $50 million and four more than $100 million.

No other artist has fared better.

"The Women of Algiers (Version O)" has sold for more than $30 million twice, the first time in 1997 when it fetched $31.9 million.

It went for $179.4 million, more than five times as much, in 2015 when it set the previous record for the priciest work sold at auction.

Two of Picasso's other works also set previous auction records: "Boy with a Pipe", which sold for $104.2 million in 2004; and "Nu au Plateau de Sculpteur" (Nude, Green Leaves and Bust), which took $106.4 million in 2010.

Six other artists, all contemporary or modern, have passed the $30 million mark with more than 10 works: Andy Warhol (27), Francis Bacon (23), Mark Rothko (21), Claude Monet (20), Amedeo Modigliani (12) and Vincent van Gogh (12).

Of the Old Masters, Leonardo has passed the $30 million threshold at auction only once, as have Raphael, Rembrandt and Vermeer.

2015
Mega-auctions at which artworks go for tens of millions of dollars have become more frequent since 2006.

Over the past five years, an average of 30 works per year have gone for more than $30 million.

2015 was a record year with 36 works passing this threshold, including Picasso's "The Women of Algiers (Version O)", Modigliani's "Nu couche" ($170.4 million) and Alberto Giacometti's sculpture "Man Pointing" ($141.3 million).

So far this year, 14 works have already sold for more than $30 million, including "Rabbit" by Jeff Koons which in May went for $91.1 million at Christie's in New York, setting a record for a living artist.

A painting from Monet's celebrated "Meules" (Haystacks) series drew $110.7 million in May, a record auction for the French Impressionist master.

Two
Only two works by women artists have gone under the hammer for more than $30 million, or less than one percent of the 311 works which have passed this threshold.

"Jimson Weed/White Flower No. 1" by American Georgia O'Keeffe sold for $44.4 million in November 2014, and a giant steel spider by Franco-American sculptress Louise Bourgeois fetched $32.1 million last month.

90 percent
New York and London hold more than 90 percent of the world's mega-auctions.

Of the 311 works which have sold for more than $30 million, 217 went under the hammer in New York and 67 in the British capital, mainly by auction houses Christie's and Sotheby's.

In Southeast Asia, 23 such sales were shared between China and Hong Kong, while four works were sold in Paris.


© Agence France-Presse










Today's News

June 15, 2019

Art expert stakes reputation on 'lost' $170 million Caravaggio

Old Masters rare at auction

Berlin Jewish Museum head quits after controversial tweet

Hauser & Wirth to open an arts centre on Menorca

Only 9% of millions pledged for Notre-Dame handed over

Phillips announces highlights from the London Sales of 20th Century & Contemporary Art

Muhammad Ali's autographed gold glove fails to sell at Turin auction

Exhibition at Foam unites ten years of Alex Prager's photographic and film works

Latvian National Museum of Art opens an exhibition of works by artist Hilda Vīka

Wide-ranging exhibition reveals how three generations of artists revolutionized the arts in Britain

First major retrospective of Paula Rego's work in England for over 20 years opens at MK Gallery

Silent Beauty invites you to admire the interplay of visual arts, ceramics and kimonos

The Barber Institute celebrates Cassiano dal Pozzo's remarkable contribution to art and science

Louisiana Museum of Modern Art opens an exhibition of works by Birgit Jürgenssen

The World Trade Center celebrates NYC Pride 2019 with public "Live 4 Love" art installation

John Bock develops a new project for Neuer Berliner Kunstverein

Solo exhibition by designer Ella Doran follows the journey of wool at Yorkshire Sculpture Park

The art of money: New Paris museum puts economy centre stage

A champion's collection to be offered at Freeman's

The art auction boom in figures

When the world stopped to watch Armstrong's moonwalk

João Laia nominated as a new chief curator of exhibitions at Kiasma

Almodovar to get Venice film festival lifetime award

VAT refund Claim under UAE VAT

Buy followers on Instagram easily

Pro Tips for Hiring the Best Air Conditioning HVAC Technician




Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
produces:

ignaciovillarreal.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful