If any of you have been keeping up with anything going on at Sotheby's or Christie's in London recently you would have watched some jaw-dropping art auctions this year...especially for Impressionist, Modern and Contemporary works of art.
Starting in June and continuing through summer is traditionally a slower time for art dealers and high profile auctions. This year seems to have made a turn for the better in terms of record sales for this time of year...and then some.
On June 19th alone sales hit an all-time high of £153,580,000 ($280,238,000 US). There were 73 items that sold for near a million/or over a million (£ or $) Modigliani's portrait of his mistress, Jeanne Hébuterne au Chapeau (seen to the left), sold for a cool £16.3 million ($29,745, 000 US). This painting, which was completed in 1919, was originally estimated to sell for around £12 million and was part of a private collection.
David Hockney's The Splash was sold for a record (for the artist) £2,920,000 ($5,329,000). Other record breaking sales for artists: Lyonel Feininger (£4,152,000 / $7,688,888) Peter Doig (£1,128,000 / $2,088,888) Frank Auerbach (£456,000 / $844,444) While most of the buyers hailed from the United States (44%) other buyers included 23% European, 14% Russian, 11% British and *8% Asian.
The Asian market for modern artworks has dramatically in the last few years but mostly for their own modern pieces. In addition Christie's of London held their Impressionist, Modern, Post-War and Contemporary art auction from June 20 - 22 and the take for that was £141.5 million ($258m US)
On June 20 - 22 Christie's auction brought in £141.5m ($258m US). 81 lots of art going for at least £/$1m each.
Just incredible.
L
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