ArtMarket® Insight - what's trending on the art market

France faces crisis while the US market booms [03 Nov 2004]

The gap between the French and American art markets is widening. While price levels on the New York market have risen by an average of 3.2% annually over the past ten years, in Paris (the third biggest market by turnover according to Artprice figures), prices have fallen by an average of 1.5% per year over the same period.

«Les Temps Forts de Drouot», the year’s culmination at art auctions [02 Nov 2004]

Each year, Drouot’s auctioneers transform the Drouot-Montaigne salesrooms into a veritable art gallery, offering a preview of the major works that will be brought to auction at year-end.

GBP 11.1 million for works by Damien Hirst [22 Oct 2004]

The leading light of the Young British Artists movement made a record sale at Sotheby’s auction of the contents of his Pharmacy restaurant on 18 October, which generated GBP 11.1 million (USD 20 million). This result largely outstripped even the most optimistic forecasts (GBP 4.9 million).

Impressionist and Modern Art Evening Sales [14 Oct 2004]

The art world is eagerly awaiting the Impressionist and Modern Art auctions at Christie’s, Sotheby’s to be held in November. Turnover forecasts are extremely high, and many records are expected to be broken.

Paris, World Photography Market Capital? [11 Oct 2004]

Paris will become the world’sphotography capital in November, hosting more than 70 exhibitions as part ofits Photo Month. The Paris Photo fair is at the heart of this cultural event.On 11-14 November this international exhibition will be opening its doors atthe Carrousel du Louvre for the eighth year running, focusing this year oncontemporary photography. With its 105 exhibitors (94 galleries, including 63from outside France, and 11 publishers), the Paris Photo fair is set toattract over 40,000 visitors.

Highly attractive photography auctions [10 Oct 2004]

After a sluggish 2003, the photography market is now booming once again. With prestigious sales to take place at Sotheby’s, Christie’s and Phillips in the next few weeks, Artprice has taken stock of one of the art world’s most dynamic segments.

Art Auction: Damien HIRST at Sotheby’s [08 Oct 2004]

On 18 October 2004, Sotheby’s London is to auction the contents of the “Pharmacy” restaurant, which houses the largest collection of Damien HIRST’s artworks. Everything in the Notting Hill-based restaurant from the walls and paintings to the crockery was designed by the most famous of the Young British Artists. Among the most noteworthy are 11 “Medicine Cabinets” and 10 “Butterfly Paintings”.Offering almost 140 lots with estimates of between GBP50 and GBP300,000, this auction, which overlaps with the Frieze Art Fair, is expected to fetch in excess of GBP 3 million.

Japanese paintings and prints at the Grand Palais [07 Oct 2004]

The exhibition of 17th and 18th century Japanese paintings and prints to be held at the Grand Palais between 29 September 2004 and 3 January 2005 displays almost 200 artworks. At the outset, Japanese prints were intended for advertising, media, educational or even recreational purposes, but their destiny completely changed when they were introduced into the Western World in the 19th century.

French market: contemporary art takes centre stage in October [22 Sep 2004]

The 31st FIAC will take place on 21-25 October at the Porte de Versailles in Paris, and will be attended by 215 galleries – 94 of them new – from 20 countries. This internationally famous art fair is without doubt the essential meeting place in France for contemporary art collectors, professionals and aficionados. It showcases works by established French artists, such as Robert COMBAS, BEN and Claude VIALLAT, as well as providing the opportunity to start a collection by purchasing the work of a promising young artist. Houses such as Cornette de Saint Cyr and Artcurial also use the event to hold specialist auctions.

Sotheby’s beats Christie’s hands down at auctions [20 Sep 2004]

  Artprice has recorded a strong art market upturn in the first eight months of 2004. Fine Art turnover is up 38.5% on the same period last year. This growth is not due to a rise in total transactions, since the number of lots bought and sold is virtually unchanged, but can rather be attributed […]

Will Frieze Art Fair be Surpassing the FIAC? [19 Sep 2004]

During the last 15 days of October, London, and then Paris, will host two ofthe largest contemporary art fairs in Europe. A week before the Paris fair,the second edition of London’s contemporary art fair – baptised Frieze –hopes to capitalise on last year’s success with yet more visitors and moregalleries participating. With London only three hours from Paris by Eurostar,the more enthusiastic art buyers will undoubtedly be visiting both, thusresulting in a fierce competition.

Artprice Top 5 [06 Sep 2004]

Each artist makes his/her own, large or small, contribution to the total market. And ranking them by auction turnover gives a good indication of the markets conditions, preferences and trends. Each year Artprice ranks artists by this criterion.

With stock markets losing value, the art market today presents an excellent alternative investment profile [19 Aug 2004]

  The announcement of very disappointing US employment figures on Friday coupled with new record high oil prices weighed heavily on American stock markets at the end of last week. In effect, fuelled by fears of a slowdown of the US economy, the Dow Jones has been contracting steadily since June. As usual, the mood […]

Investing in art: are the most expensive works the most profitable? [17 Aug 2004]

  On a 10-year average basis, the Artprice Paintings Index, calculated using the econometric method of repeated sales, has risen 46%, implying an average annual return of 3.9%. However, there are significant performance differentials between the various price ranges within the index. In effect, between July 1994 and July 2004, the average annual yield on […]

Prices on the French art market fall 15% in six months [08 Aug 2004]

  The dynamism of the US and UK art markets has not made it across all the borders.Although in top spot in terms of transaction volumes, the French market has seen this season’s sales fall 8.2% compared with the first half of 2003. The USD 123 million it banked from the first half year of […]

London strengthens its leader position on the European art market [04 Aug 2004]

  With 33.1% of global art market turnover, the UK was again the most dynamic of the European art markets in the first half of 2004. London’s H1 turnover (USD 588 million, or GBP 377 million) was up 29.4% on the same period a year earlier, and by 62% compared to the first half of […]

New York (Artprice): strong growth in the Modern and Contemporary Art segments [01 Aug 2004]

  The Modern and Contemporary Art segments (artists born after 1860 according to Artprice’s definition) have never generated such a high percentage of the art market’s turnover. In the first half of 2004, the combined turnover of the two segments represented 69.1% of total Fine Art auction turnover compared to 61.9% in the first half […]

The Italian art market posts 25.8% growth in the first half of 2004 [27 Jul 2004]

  Along with the UK, Italy is one of the most dynamic European art markets in terms of growth in Fine Art auction turnover: up 25.8% compared to the same period a year earlier.According to Artprice figures, Italian auction houses generated close to EUR 50 million (USD 61 million) from a total of 85 Fine […]

Auctions of Aboriginal art [20 Jul 2004]

  From 26 to 27 July 2004, Sotheby’s is holding one of the most important sales of Aboriginal art ever seen. 595 lots will be on offer in two sessions. Australian Aboriginal art has a fascinating magical quality that arouses curiosity by evoking a world of mystery. The iconography of Aboriginal art draws on stories […]

Art auctions: Sotheby’s auction of the Nahon Collection generates EUR 8,777,420 [19 Jul 2004]

  It was record after record at Sotheby’s in situ sale of the Nahon Collection in Vence on 18 July. After a first session dedicated to furniture and decorative arts, the second sitting focused on Contemporary and Modern Art, and, with a wide choice of works from the New Realism movement, it generated some excellent […]

3920 records at Art auctions in the first half of 2004 [18 Jul 2004]

  Over the first six months of the year, Artprice.com recorded 3920 new record prices for artists. More than a quarter of these records were set in the US and UK houses.Of these, 596 records were set in London, including GBP2,200,000 for a Lyonel Charles FEININGER on 2 February 2004, GBP1,700,000 for a Jean-Léon GÉROME […]

Art Market Cycles, after New York and London: Australia. [15 Jul 2004]

  Each year, the art market beats to the hammer of the great international appointments, moving, for the most part, in between the United States (turnover: 43,4% / number of transactions: 10,7% for the first half of 2004), the United Kingdom (turnover: 33,1% / number of transactions: 16% for the first half of 2004), and […]

Artprice New York: Sotheby’s leads Christie’s in Fine Art sales [28 Jun 2004]

London will become, for several weeks, the heart of the global art market and the focus of the fierce competition between Sotheby’s and Christie’s. In 2003, Sotheby’s was the world leader in Fine Art with total sales of close to USD 913 million (excluding commissions), USD 27 million ahead of Christie’s.

Boom in contemporary art auctions [27 Jun 2004]

The evening auctions of contemporary art at Christie’s and Sotheby’s in London on 23 and 24 June 2004 echoed last month’s good results in New York. Both auction houses raked in near to GBP 14.1 million, with more than 90% of lots sold at each session.

Exponential Growth in American Art Market [20 Jun 2004]

As the year’s first auction season draws to a close in New York, London and Paris, Artprice takes the pulse of the world’s three leading art markets – and finds sales booming with prices up by more than 5%.

Art as investment: no speculative bubble [17 Jun 2004]

Factoring in New York’s May auctions, the Artprice Global Index for June has risen 5.7% since 1 January 2004. After such a swift progression, is there a danger of a sharp correction ?

Art Market 2004: prices continue climbing [10 Jun 2004]

Recent record prices at New York auction houses, such as USD 93 million for Picasso’s Garçon à la Pipe, reflect the top-end of a clearly visible trend: the art market is still on a growth path. Having already risen in the first quarter of 2004, art prices have climbed by more than 2% since April. Even the photography segment, which has been lagging behind over the last 2 years, is booming again.

Art Deco sculpture [09 Jun 2004]

Underpinned by US and UK collectors, prices for Art Deco sculpture have jumped 8% in less than six months.

What is a Vermeer painting worth? [07 Jun 2004]

For the first time since 1921, a work by Jan Vermeer (1632-1675) will be put up for auction.

Because of the lack of sales, there are no reference points for Vermeer’s market. A small format painting measuring only 25 x 20 cm, Young Woman Seated at the Virginal is perhaps one of the last authentic works by Vermeer to remain in private ownership.

The rising stars at auction : latest trends [03 Jun 2004]

Artprice surveys the rising stars of a generation of artists that are as likely to send a frisson through the auction rooms as Picasso, Renoir or Van Gogh. Sometimes now topping a million dollars, the prices commanded by young generations of artists, have recently begun to rival those of established auction stars —”young” in our classification means born after 1960.