Contemporary art market in the figures. Part II
ARTinvestment.RU   27 октября 2010

Details about the painting, sculpture, photography, video ...

Recently, a French website Artprice.com published a report on the situation in the market of contemporary art dedicated to the art fair FIAC. ARTinvestment.RU offers a brief retelling of the main provisions of this stuff. first part, tells about the main trends in the segment of Contemporary, can be read here . And now we will focus on how the current situation, "feel" a different sub-segments. The report covers the period from July 2009 to July 2010. The rankings took into account only auction sale of works by artists born after 1945.

Painting

Of all types of modern Art above all else on the market are valued, of course, pictures. The annual auction revenue painting (296.4 million euros) amounted to 67,4%of total revenue. Paintings on auction were sold three times more than the graphic works, in 4,5 times more than the pictures, and in 5,7 times more than sculptures.

deals with the works of artists that are included in the first Ten of the auction proceeds, secured 35.5%of annual revenue sub-segments. However, it should be noted that Contemporary (as opposed to categories such as "Old Master" and "Modernism") can not boast a 10-million-selling. Artprice.com also notes that in 2009-2010 the most successful of the biggest collectors enjoyed the American and Chinese figurative painting. The top ten artists included only three artists from Europe - Britons Peter Doig (Peter Doig) and Damien Hirst (Damien Hirst) and the German Martin Kippenberger (Martin Kippenberger).

Thor -10 contemporary artists on the auction turnover of money

1. Jean-Michel Basquiat (Jean-Michel Basquiat), 25,5 million euro

2. Peter Doig (Peter Doig), 15,1 million euro

3. Richard Prince (Richard Prince), 11,1 million euro

4. Martin Kippenberger (Martin Kippenberger), 9,9 million euros

5. Chen Yifei (Chen Yifei), 8,8 million euros

6. Damien Hirst (Damien Hirst), 8,4 million euros

7. Fanchzhi Zeng (Zeng Fanzhi), 7,7 million euros

8. Jeff Koons (Jeff Koons), 6,4 million euros

9. Christopher Wool (Christopher Wool), 5,8 million euros

10. Zhou Chunya (Zhou Chunya), 4,6 million euros

Sculpture

Demand modern sculpture has never been so high: less than ten years, prices in this sub-segments tripled. However, millions of transactions during the reporting period we were made relatively little - a total of nine (against 23 in 2008-2009). In the segment of modernism, meanwhile, the number of seven-digit sales grew. Someone did not even hesitate to lay out quite astronomical sums, four years ago, the unthinkable: 66.4 million euros for the "walking man I» Alberto Giacometti (Alberto Giacometti) and 43.2 million for the "head" by Amedeo Modigliani (Amedeo Modigliani). The success of the modernists is quite logical in the post-crisis environment, where the preference for safe investments in the "proven" of artists.

Top 10 contemporary artists at auction turnover of money

1. Jeff Koons, 11,6 million euro

2. Anish Kapoor (Anish Kapoor), 6,9 million euros

3. Juan Muñoz (Juan Muñoz), 4,6 million euros

4. Antony Gormley (Antony Gormley), 2,3 million euros

5. Maurizio Cattelan (Maurizio Cattelan), 1,7 million euros

6. Chen Li (Chen Li), 1,4 million euros

7. Wang Chang (Wang Zhan), 1,3 million euros

8. Matthew Day Jackson (Matthew Day Jackson), 1,08 million euros

9. Bharti Kher (Bharti Kher), 1,03 million euros

10. Subodh Gupta (Subodh Gupta), 855 000 euros

Lighting Installation

In the sixties of last century, artists Dan Flavin (Dan Flavin), Joseph Kosuth (Joseph Kosuth), and Mario Merz (Mario Merz) expanded the idea of what the sculpture, began using neon. Successors to their case at today's art scene a lot. Example - British artist Tracey Emin (Tracey Emin), which has become known thanks largely to the support of the collector Charles Saatchi (Charles Saatchi). In 2009-2010, it "neon romantic messages with titles like" I promise to love you "," You forgot to kiss my soul "," Those who suffer from love, "etc. were sold at prices ranging from 32 to 81 thousand euros apiece. And here is another protege Saatchi, Tim Noble and Sue Webster (Tim Noble & Sue Webster), no luck: no one of their important work has not found a buyer at auction.

Among the artists whose installations have been sold quite well - Olafur Eliasson ("One cubic meter of light, 200,000 euros), Li (" Amber ", 125 thousand euros) and Ivan Navarro (" White Electric Chair ", 22.2 thousand euros).

Video

video art auction market has not yet succumbed, and works by artists other than the patriarchs of the genre, appearing at a public auction only sporadically. Collectors prefer to work more "traditional" art forms: as a rule, it is understandable how they keep and where to show and do not expire whether or not a job with the development of technology ... However, here are impressive auction results. The most popular of the artists is Bill Viola (Bill Viola), prices are almost never fall below 40 000 euros. Auctions debut artist took place in 2002, a year after his installation "Visiting the Virgin Mary Elizabeth", shown at the Venice Biennale - 1995, was bought by the New York Museum of Modern Art. Work entitled Incrementation was sold for 62,240 euros - the most successful debut of the year. Three years later bought the video for 75,000 euros. The day before, another work of Viola, "Witness," was his first work, which brought three-valued sum - 271 thousand euros. In November 2007 work "The witness" went for 341,000. Viola is the author of the most expensive videos, sold at auction this year ("Capture", 307 thousand euros).

Those who are interested in video art, but can not yet afford to Viola have the opportunity to purchase works of other representatives of the genre to a much more reasonable prices: work Pipilotti Rist (Pipilotti Rist) and Pierrick Soren (Pierrick Sorin) go over the amount of 3 to 20 thousand euros, and the video Ourslera Tony (Tony Oursler) give 15 to 25000.

Photo

market Sontemporary unique product, apparently, does not have such a large value as in other segments. Exclusive photos provided by small print runs (two, three, five copies), but the unique pictures very, very rare. Today (and this applies to all categories of works) limited edition works regularly beats the price of "one and only" lots: example would be the same "Walking man I» Giacometti, who has five twin brothers. This sculpture, by the way, some time ranked first in the list of most expensive products ever sold at auction ...

While the sculpture is competing for market supremacy with the painting, Contemporary Photography competes with graphics. This year, the most expensive picture ("Madonna I» German artist Andreas Gursky) yielded more than the most expensive design (creation of Jean-Michel Basquiat): the buyer posted a snapshot of 925,000 pounds. Price reflects both the prestige of art Gursky (disciple of the famous Bernd and Hilla Becher to be awarded a large-scale retrospective at the MoMA), and exceptional quality of the work itself (the monumental - the height of nearly 3 meters! - And a tiny, two copies, circulation). Here they are, the key success criteria for "photographic" market: the museum size and rarity.

auction off photos was quick and loud. Back in 1995, the annual volume of this market was only about 1,4 million euros (350 lots). Since then, prices on photo quadrupled, while the number sold in the auction pictures can be from three to six thousand a year. For ten years (1998 to 2008) annual income of sub-segments grew by 1,270%(!). In 2009-2010 it reached 7%of total revenue (31.1 million euros). During the art boom of the modern picture is rapidly rose in price and ahead of a classic, in 2009, the market adjusted and now generates 40%of their total income (both in 2006).

However, no contemporary photograph has not yet been overcome in the auction mark of 10 million dollars, in addition, annual income has increased over the period photographs art boom (2003-2008) "only" at 229%, while overall growth segment of the Contemporary was already 990%. At the market level photos of speculation is low, so the correction it was not strong. Nevertheless, his "leadership" seriously felt a decrease in demand, and in the wake of the fear of a significant decline in three major auction houses (Christie's, Sotheby's, Phillips de Pury) was "anti-crisis measures": reduce the number of specialized trades (in 2008 there were 23, in 2009 - 14) and cut the estimate. For the year sales volume of modern photography has decreased by 62%. As for the unsold works, then in 2008-2010 the number ranged between 43 and 48%(average 33%higher than in 2003-2007). This market is clearly needed more time to recover from the shock of the crisis.

Thor-9 contemporary photographers on the auction turnover of money

1. Andreas Gursky (Andreas Gursky), 3,5 million euros

2. Cindy Sherman (Cindy Sherman), 1,7 million euros

3. Robert Mapplethorpe (Robert Mapplethorpe), 1,7 million euros

4. Vic Myunis (Vik Muniz), 1,5 million euros

5. Hiroshi Sugimoto (Hiroshi Sugimoto), 1,5 million euros

6. Thomas Ruff (Thomas Ruff), 1,2 million euros

7. Thomas Struth (Thomas Struth), 961 000 euros

8. Richard Prince (Richard Prince), 881 000 Euros

9. Florian Maier-Ayhen (Florian Maier-Aichen), 819 000 Euros

Artprice also presented a list of Top 500 artists of the total auction turnover of money. The top ten looks like this:

1. Jean-Michel Basquiat, 30,908,576 euros, 70 lots

2. Jeff Koons, 18,186,719 euros, 70 lots

3. Peter Doig, 15,271,083 euros, 43 Lot

4. Richard Prince, 12,486,733 euros, 43 Lot

5. Martin Kippenberger, 11,354,823 euros, 55 lots

6. Damien Hirst, 10,247,639 euros, 199 lots

7. Chen Yifei, 8,880,726 euro, 19 lots

8. Zeng Fanchzhi, 8,064,144 euro, 29 lots

9. Maurizio Cattelan, 7,467,321 euro, 15 lots

10. Anish Kapoor, 6,994,360 euro, 37 lots

Full report is available here .

The material was prepared Yulia Maksimova, AI

Sources: artprice.com , artinvestment.ru