Cecily Brown: Art Market Report – May 2018
- Analyst: James Cocksey
- Pages: 14
- Access: Analyst
Cecily Brown’s auction market reach record sales levels in 2017 and sets the tone for the market in 2018: After a period of ten years, the market for Cecily Brown reached a new peak in sales in 2017, with a total auction value for the year of $12.2 million. Sales in 2017 represented a marked improvement in Brown’s secondary market following a prolonged slowdown between 2014 and 2016, with total auction sale value for the period amounting to $2.8 million through fifteen artworks. Sales for the artist in 2017 represent the largest value for a single year to date and exceed the previous auction peak of $9.3 million in 2007 by 31%. Sales of $4 million during the first quarter of 2018 represent an all-time high when compared to the artist’s auction sales within the same period during previous years since 2000.
68% of hammer prices have been above the high-estimates since 2016: The majority of buyers of Brown’s works at auction since 2016, have been willing to meet the upper estimate of seller’s expectations, with 68% of hammer prices above the auction high-estimate values (15 out of 21 lots offered).
The proportion of guaranteed lots doubles in 2017: The use of auction guarantees in support of sales hasn’t been common within Brown’s auction market, affecting only 5% of all lots sold since 2000 (8 guaranteed out of 151 lots sold). Three of the four guaranteed lots in 2017 achieved prices exceeding their high-estimates, with the fourth selling just below the mid-estimate value.
This Market Report is the first Brown research published by ArtTactic and is to be followed by regular updates.
ArtTactic also offer bespoke reports on the Cecily Brown market. For further information please contact us on info@arttactic.com.
The report contains the following elements:
Brown Market Background and Timeline.
Exhibition Analysis 1995-2018.
Total Sales, Average Prices and Hammer-Ratio analysis. 2000-2018.
Analysis by segments including; Breakdown by Year of Creation 2000-2018.
Artwork Analysis by Medium 2000-2017.
Price Segmentation and Top 10 Price Analyses 2000-2018.
Repeat Sales Analysis 2000-2017.
FOCUS: Paintings on Canvas Analysis 2000-2018.