Paris is strengthening its position as a key location for the art market with the establishment of several Blue Chips galleries, such as David Zwirner and Hauser & Wirth, as well as opening new spaces for Gagosian and Continua. The country retained its first place in Europe and recorded a 14% increase in profit, thanks in particular to the performance of Artcurial and Aguttes. This is followed by China, which retains 12% of the turnover, with 70% of sales happening in Hong Kong.įrance, meanwhile, is doing particularly well. In terms of geographic distribution, the United States and the United Kingdom are driving growth, accumulating between them 2/3 of Fine Art auction sales over this half-year. From the Thomas and Doris Ammann Foundation, sold for $195 million in May 2022 in New York. Related: Warhol's Marilyn at Auction with $200m Estimate Andy Warhol (1928-1987), Shot Sage Blue Marilyn, 1964, acrylic and silkscreen ink on linen, 101.6 x 101.6 cm. Meanwhile, Christie's achieved the 2nd best auction of all time (after the Salvator Mundi sale) with the portrait of Marilyn Monroe Shot Sage Blue Marilyn (1964), painted by Andy Warhol (1928-1987) and sold $195 million in May 2022 in New York. Sotheby's recorded the most explosive result for the period, and also in the history of collection sales, with the Macklowe collection in New York becoming the most expensive in the world, grossing a total of $922 million. Unsurprisingly, Christie's and Sotheby's own 38% of the global auction market share. Sale exhibition of the Macklowe Collection at Sotheby's in May 2022. Unsold pieces made up 31% of Fine Art lots at auction for this period, compared to 27% last year. 326,000 lots sold in six months, compared to 313,400). The demand recorded also grew with a 4% increase in the number of lots sold compared to the first half of last year (i.e. The growth has been reinforced by increasingly fierce competition between the main marketplaces for Fine Art, which rank in order: New York ($3.1 billion), London ($1.3 billion), Hong Kong ($598 million) and Paris ($507 million). Related: 10 Record-Breaking Artworks and Who Bought Them Young artists have had particularly volatile prices, but at times their ratings have exceeded those of the grandmasters. Those born after 45 represented 18% of the overall market over this period, and the number of sales of Contemporary Art increased by 12% (from 102,000 to 119,400). The number of 20th and 21st-century artist sales was on the rise, particularly for young artists. It seems indeed that despite the war in Ukraine, the recent wave of Covid-19 throughout Asia and the energy crisis, the overall turnover for Fine Art auctions recorded a growth of 8% in the first half of 2022, for a total of $7.49 billion, as reported by Artprice. The main takeaway: the art market returns to strong growth in the West. paintings, sculptures, drawings, photographs, prints, videos, installations, tapestries, and NFTs). Artprice has published its report for the first half of 2022 (H1) on the global art market for the Fine Art category (i.e.
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