Auction Analysis: New York Post-War and Contemporary Evening Auctions – May 2019
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New York’s evening sales of Post-War and Contemporary art up 7.6% from May 2018
Despite record prices being set for artists such as Jeff Koons and Robert Rauschenberg, the overall evening sales total just scraped above the sales total 12 months ago. The Post-War and Contemporary Art Evening Sales in New York last week raised a total of $843,930,000 (excluding buyer’s premium), comfortably within the total pre-sale estimate of $741,910,000 – $1,063,230,000.
Younger generation artists see prices jump exponentially, but can it be sustained?
A number of younger generation artists were given ‘evening sale’ status this week, resulting in their value shooting above market expectations. Among the top risers, were Dana Schutz, KAWS, Nicholas Party, Jonas Wood, Rashid Johnson, Lynette Yiadom-Boakye and Jordan Casteel. In total these artists raised $22.9 million against a pre-sale mid-estimate of $11.6 million (based on 14 lots).
About this report:
This report presents an in-depth comparative analysis of the Post-War and Contemporary art evening sales at Sotheby’s, Christie’s and Phillips in New York in May 2019. The analysis also provides analytical tools looking at annual trends between 2008 and 2019.
Who is it for?
This report is popular among dealers, auction houses and collectors, who want to get an in-depth understanding of auction trends in the post-war & contemporary art auction market and follow the performance of the two top auction houses this year.