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,