Auction Analysis: New York Post-War & Contemporary – May 2016

• Analyst: Peter Gerdman
• Pages: 8
• Access: Analyst

Auction Analysis: Post-War & Contemporary – May 2016.

No one was expecting this week’s sales to come close to the results 12 months ago as we in fact see in this May 2016 report.  The Post-War & Contemporary art market started to slowdown in November last year. The Post-War & Contemporary Evening sales total came in at $592.34 million (excluding buyer’s premium), which was 50% lower than May 2015. But despite lower sales values, the auctions of Post-War & Contemporary art managed to meet market expectations.

Phillips picked off the May auction week in New York with its 20th Century & Contemporary Evening sale. The sale achieved a total of $38.52 million,