We are delighted to launch the inaugural edition of the Wet Paint Market Report 2015 – 2019.

In this report we deep-dive into more than 2,700 lots that were offered at Christie’s, Sotheby’s and Phillips within 3 years or less of their creation date, hence the title ‘wet paint’. The analysis explores art market trends often associated with ‘flipping’ (i.e. artworks bought in the primary market and then subsequently sold at auction). The analysis can be used as a barometer for the overall level of confidence in the art market, and also an indication of the level of speculative behaviour.

However, the Wet Paint market analysis also provides insight into charitable donations from artists and their galleries, and looks into what impact and role these sales have on the art market today. For example, to what extent does the ‘charitable’ premium often associated with these sales help infuse additional energy into the market for individual artists?

The research methodology is based on over 2,700 lots collected from around 880 artists from sales between 2015 and 2019; including Post-War and Contemporary Evening Auctions in London, New York and Hong Kong; Post-War and Contemporary Day Auctions in London and New York; as well as Post-War and Contemporary Incubator Auctions in London, New York such as New Now and Under the Influence auctions at Phillips, Contemporary Curated at Sotheby’s and First Open and Post-War to Present at Christie’s. This analysis does not currently consider Post-War and Contemporary sales in Paris, Milan, Amsterdam, mainland China or the Middle East, or the Day or Incubator sales in Hong Kong, however, these will be considered in future editions.