London Art Market Sales

The world art market has showed no signs of slowing down in February. Chris-toby’s have had an impressive month in London with almost $500,000,000 being sold between them. Their sales included Impressionist and Modern paintings and works on paper, German and Austrian Art, and Surrealist art.

sothebys art auction

European buyers are now getting the attention of American sellers after the February frenzy.. “Such a sum verges on the territory previously held by US auctions. London’s rising strength as a market is a continuing trend in recent seasons. In part this is a reflection of the city’s proximity to well-heeled eastern European buyers, but is also a result of US sellers seeking a stronger currency than the dollar. Several of the highlights were drawn from American collections.” Sotheby’s

Top Ten Auction Sales from the February Frenzy

Chaim Soutine, L’Homme au Foulard Rouge
£ 8,756,000
Pierre-Auguste Renoir, Les Deux Soeurs
£ 6,852,000
Fernand Leger, Les maisons dans les arbres
£ 6,292,000
Amedeo Modigliani, Jeune fille au beret
£ 6,068,000
Rene Magritte, Le pretre marie
£ 5,284,000
Egon Schiele, Selbstbildnis mit gespreizten Fingern
£ 4,500,000
Edgar Degas, Trois Danseuses Jupes Violettes
£ 4,164,000
Raoul Dufy, La Foire aux Oignons
£ 4,052,000
Claude Monet, Maison du jardinier
£ 4,052,000
Amedeo Modigliani, Homme au chapeau
£ 3,940,000

>> Art Auctions, Art Collecting

About Dion

Australian artist and observer of things.. all kinds of things. I like a wide variety of art, from the weird and wonderful to the bold and beautiful.. and everything in between.

Comments

  1. I wonder whether any artist in the group has noticed any increase in market prices for paintings in the vast markets below the elite.Is this the rising tide that raises all ships or the inflation of worth to meet the cash available to buy. Studies in the time usage of housewives, when there existed such a designation, showed that labor saving devices, washing machines, sewing machines, vacuum cleaners, did not lessen the total amount of time spent on housework, the housework expanded in to fill the time available. I get the impression that supply of “great”, better yet, “iconic”works, expands to meet the demand of wealth to purchase pictures. A good example, among excellent painters, would be Modigliani, who while a favorite, was generally considered to be a “minor” master, not in the same league as Picasso, Matisse, Degas, Cezanne, Monet,and whom you will. Now his prices are rising to qualify him (on the basis of what one would assume is being told buyers by their art advisors)as a major master,or to put it more elegantly, the price determines the judgment of quality rather than the reverse.
    Too bad most of these people never saw the likes of this evaluation, or, for some, not until well advanced in years.

  2. It seems to me that the big ships and the little boats are rising Irv. All the talk at the top seems to inspire those at the bottom to buy too. I don’t have much data to prove that all the boats are rising, but “talk” and “gossip” tells me this is the case.

    I will always think of Modi as a Major artist, even if he didn’t have much of a range as an artist.

    I wonder if Klimt is now a Great artist? Will money determine who is great?

  3. “At Contemporary Art sales, a mood to buy regardless of quality” is the headline of this International Herald Tribune article. I think it speaks volumes…

    http://www.iht.com/articles/2007/02/16/opinion/melik17.php

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