The contemporary art market has grown 1,800% in the last 19 years and its Price Index rose 22% in 2018/19, according to artprice.com.
Of the top ten artists whose work set auction records in 2019, Claude Monet’s Meules topped the list at Sotheby’s New York, when it sold at the May 14th auction for $110,747,000.
Jeff Koons – Puppy
The day after the Monet was sold, Jeff Koons‘ Rabbit garnered $91 million at Christie’s, the highest price ever paid for a work by a living artist.
Rabbit, a stainless steel sculpture, just over three feet high, was first shown at Ileana Sonnabend’s gallery in New York in 1986 and launched Jeff Koons’ career.
Koons has gone on to create a body of instantly recognizable works, including Puppy, a pure white ceramic sculpture, available at Surovek Gallery.
Frank Stella – Sinjerli Variation
On the same night that Jeff Koons Rabbit set the auction record, Frank Stella‘s Point of Pines, sold for $28,082,500o, putting him at number 5 on the top ten artists auction record. Point of Pines is one in his series of Black Paintings that turned abstract expressionism on its ear and led to his famous quote, “What you see is what you see.”
What the sale of Point of Pines reflects is the increased market prices of living artists.
Stella’s work evolved from the stark blackness of the series to creating works with color, shape and texture.
He became a masterful printmaker and, these days, is doing large sculptural work in his studio in upstate New York.
KAWS – The News
When Sotheby’s Hong Kong included The KAWS Album in its April auction, it hoped it would sell for $1 million. It sold for $14.7 million. That put KAWS at number 10 in the top ten artists auction record.
KAWS unique sensibility, which has global appeal, has made him one of the most sought after artists in the world.
He is a rock star in Asia, the Middle East, Europe and, of course, in the U.S. He’s been living and working in Brooklyn for the past twenty years, but starts working earlier these days because he’s a dad and likes to spend time with his wife, sculptor Julia Chiang and their two young children.
The Global Market
Works by Pablo Picasso, Roy Lichtenstein, and Andy Warhol have done well in both New York and London auctions, although collectors seem to be holding on to their works, since not many were seen at auction this year.
An Array of Artworks at Surovek Gallery
Modern Art works, defined as work created by artists born between 1860 and 1919, dominated the art market this year, and Contemporary Art showed surprisingly high results. At Surovek Gallery, we have works by American and European Masters, Modern, Post War and Contemporary artists.
Each year, we have come to expect the unexpected in the art market and keep the gallery filled with works by our favorite artists, the works we most admire.
Please come visit, or contact us, for more information about the fine art works available at Surovek Gallery.