The Ultra-Contemporary Art Market Annual report

Every autumn, Artprice publishes the conclusions of its constant monitoring of the global Contemporary Art market. This year, our annual report – published simultaneously with Frieze London and Paris+ by Art Basel – focuses specifically on Ultra-Contemporary art (works by artists under 40). In addition to this brand new report, Artprice continues to analyze all the auction data for the Contemporary art market as a whole (artists born after 1945).

A special focus on under-40 artists at auction

This year Artprice has devoted its entire annual report to the Ultra-Contemporary Art Market, focusing on auction results for works by artists under the age of 40, whose valuations have reached very surprising levels within exceptionally short time-frames.

If the new energy brought by ultra-contemporary art clearly fascinates the art market around the world, it is partly because it addresses the current themes and concerns of their peers and reflects the societal challenges of our era.

This latest report notably looks at the very recent emergence of digital artists thanks to the new NFT market and the powerful support of young African artists by the major auction houses. But it also focuses on how the art market is becoming more feminized, through a new generation of female artists whose results are now ahead of those of their male counterparts, a truly momentous change for a market that has been so male-dominated.

This analytical focus on artists under forty reveals a part of Art History in the process of being written, through paradigm shifts that are profoundly transforming the global art market.

Key figures for the Ultra-Contemporary Art Market

• $420 million generated by Ultra-Contemporary artworks (July 2021 – June 2022): a 28% increase compared to the previous year.
• Ultra-Contemporary Art represents 15.5% of the Contemporary Art Market.
• 9,640 Ultra-Contemporary works sold over the last 12 months.
• 2,670 artists under 40 at auction: 5 times more than 20 years ago.
• The average price of the 5 best results went from $618,000 to $4.9 million.
• Women hold 8 places in the Top 10 artists under 40.

Summary

Key figures for the contemporary art market

Focus on artists under 40 at auction

Success no longer awaits maturity

The growing place of young artists on the auction market

Inflation!

Female artists and digital art

The new and preponderant place of women

NFTs: a technology that appeals to young people

Where does ultra-contemporary art sell best?

The United States and the UK lead the dance in the West

China, with Hong Kong

Ultra-Contemporary Art Market, 2022

Click HERE to find out more!

The PDF is free to download

Methodology

This Report offers a global analysis of public sales of works of Fine Art (paintings, sculptures,
drawings, photographs, prints, videos, installations, tapestries – and art NFTs, excluding
antiquities, anonymous cultural property and furniture). It covers the results of global
auctions from July 1, 2021 to June 30, 2022 for the key figures of Contemporary Art, and
also the first half of 2022 for Ultra-Contemporary art.
All prices indicated in this report refer to results in public auction sales, buyer’s fees included.
The $ sign always refers to the US dollar