What results did the contemporary art market achieve during 2018? Contemporary Art 05/04/2022

As every year, the Artprice web portal publishes its report Regarding the situation in which the art market finds itself world, and today At Balclis we want to pass on this information, focusing specifically on the contemporary sphere, Since this is the only sector, and to the surprise of many, the one that has known tremendous growth throughout the 21st century.

The first thing to highlight is how the consolidation of this market he is having a growing demand in works by contemporary artists, so such as the proliferation of supply and an economic context more favorable, and it is that, not in vain, and for the first time, Since the financial crisis of 2010, the best positive values ??have been recorded during 2018. A progressive and marked rise has been noted since 2015, although, yes, without reaching that peak that was reached. during exercise between 2013-ndash; 2014.

  1. This is what the numbers say

A total of 66,850 transactions, both in online auctions and traditional, have been registered during 2018, showing a more intense market than ever, quintupling like this the number of sales with a difference barely 10 years old.

It is also worth noting how the volume of sales has been increasing, passing from 91 to 1.7 billion euros. But… what do we mean by this?, because while at the beginning of the 21st century the average price of a work of contemporary art fluctuated around 7,500 euros, now we are talking that they are usually around 25,000 euros.

Most sought-after contemporary artists: The records

And we continue with the surprises regarding the works that lead the ranking of the pieces sold at auctions whose figures are to fall round. According to art experts, leading the list is Jean-Michel Basquiat with three of his works with the highest price.  Flexible (1984) with a value of nothing else and nothing less than 40,183,560 million euros, and together with them Flesh and Spirit (1982-1983) and Red Skull (1982), which are in second and fifth place with a value of 27,233,306 and 19,143,554 million euros each.

Play-Doh (1994-2014), a sculpture by Jeff Koons takes third place with 20,225,640 euros to his credit. And completing the list, the Chinese artist Yifei Chen, with Warm Spring in the Jade Pavillion (1993) in fourth place and its quoted 20,069,392 euros. Finally, and in a not at all negligible ninth place is the work The architect’s Home in the Ravine (1991), by Peter Doig who achieved success. the 17,692,236 euros.

Fruit of this little analysis We conclude with a list of the ten most sought-after contemporary artists during the 2018 financial year and they are, first of all, Jean Michel Basquiat (1960-1988), with a total of 125 lots sold amounting to 226,997,056 euros. Secondly, Peter Doig (1959), with 45 lots and 89,486,016 euros, and, in third place, Rudolf Stingel (1956), with 27 lots and 46,436,120 euros. Fifth place is held by Yifei Chen (1946-2005), with 18 lots and 41,841,916 euros. The eighth place is occupied by the well-known also Jeff Koons (1955) with 149 lots and 40,792,093 euros. And at number ten find Yoshitomo Nara (1959), with no less than 339 lots that amounted to an amount of 31,093,316 euros.

On the other hand, Needless to say that it has been the art auction houses Sotheby’s, Christie’s and Philips that have headed the main sales volumes of contemporary art, and together with them the auction houses Asian women in the following positions, China Guardian in fourth place, followed by the Beijing Council (6th), Coulcil Shanghai (8th), Hangzhou Jiashi (9th) and Beijing Hanhai Art (10º).

And it is that if the auction experts agree on something of art is that the contemporary art market is going to go in crescendo year after year, recommending these perform to many of his assignors now, in 2019, carry out the appraisal. of your artwork. Whatever your outlet, Hammer Online Auction Now It's the moment!