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Emile Othon FRIESZ (1879-1949)

ArtMarketInsight

Zao Wou Ki – one of the key figures of Lyrical Abstraction – is also one of China’s most cherished cultural icons. Driven by bulimic Asian demand, his auction prices have soared and in 2013, his works generated no less than 35 auction results above the million-dollar threshold.

The two days of Impressionist & Modern auctions in New York saw the art market in full roller-coaster mode: after a very uninspiring evening at Christie’s that generated just $56.8m on 3 November 2009 (vs. $116.9m on 6 November 2008), Sotheby’s posted $102m more than its rival ($158.6m vs. $196.8m on 3 November 2008) the following day and several new records.

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