Indicators of auction sales, the most famous modern artist of our time — in the rest of the material AI

• @now;
  Source: cobosocial.com

the first part of the material explanation of the ArtTactic research we talked about marketing and exhibiting artist Brian Donnelly, aka KAWS. Today we turn to the results of the auction with the participation of his works.

the Statistics of auction sales KAWS, 2008-2020

net sales (excluding buyer's fee): $137.3 million.

the Number of lots sold, units: 1@now;591.

the Number of unsold lots, units: 171 (11@now;%).

the Average price (excluding buyer's fee): $ 86,3 thousand

Unsold lots: 9,7@now;%.

the lower limit estimate: $84.7 million

the Upper bound estimate: $122,3 million

Sale price of the average estimate of or above units: 1 138 (72@now;%).

on Sale at a price below the average estimate of units.: 453 (28%).

the Number of lots with a guarantee of the auction, ed: 27 (2@now;%).

the Ratio of sales prices to the average estimate: 1,25.

58@now;% of the lots (918 items) KAWS, sold at auction from 2008 to 2020, cost less than $10 thousand — basically it was a sculpture of plastic or polyester and lottery products. The lots in this price category made up only 2@now;% of the total turnover ($2.7 million). Items sold at a price of up to $100 thousand, constitute the majority of auction sales, which account for 85@now;% of lots sold (1349 items) that is 14@now;% of the total turnover ($19.8 million). On sale in the price range of $100-500 thousand, accounting for 28@now;% of the total turnover ($38.4 million) and 12@now;% in quantitative expression (188 lots). Lots sold at prices ranging from $500 thousand to $ 1 million, accounted for 17@now;% of the total turnover ($22.7 million), and only 2@now;% of lots sold (33 items). Sales at the upper price level of the market KAWS ($1 million and above) accounted for only 1@is now;% of lots sold (only 21 subjects) and 41@now;% of the total turnover of sales of the artist ($56.3 million).

Auction results KAWS exceeded $100 million in 2011, $250 thousand — in 2014, $500k — in 2018. 8 lots were sold to $750 thousand, and one lot made up of the auction price of $800 thousand Sales exceeded price threshold of $1 million in 2018, when it was sold four lots for a total of $7.6 million In 2019 the number of sales KAWS has quadrupled in the price segment over $1 million (just 17 lots). Thus three items were first sold at auction for $5 million and above and the maximum sales price was $12.7 million ($14.7 million subject to the buyer's Commission). Sales in the lower price range (less than $10 million) increased in 2019 to more than 160@now;%: sold 411 lots (compared to the 156 items in 2018).

table 1. Price segments, auction sales of works by KAWS

the cost of the lot	the Number of lots, units.	the Proportion of lots from the total number, %	, sales Turnover, mln	the Proportion of lots of the total turnover of sales %
Less than $10 million	918	58	2,7	2
Less than $100 thousand.	1349	85	19,8	14
the$100-500 thousand.	188	12	to 38.4	28
$500 тыс. — $1 million	33	2	22,7	17
More than $1 million	21	1	56,3	41

the Rate of successful sales KAWS at auction since 2008unique for contemporary artist — 89@is now;%. The total value of unsold lots (171 object) defined by the lower boundary estimate, totalled $7 million At auction in 2019 670 lots were sold KAWS (125@now;%@is now; more than 298 lots sold in 2018-м)@now;— more in a calendar year could not sell to any artist. 2019 also noted impressive share sales success: 92@now;% (for comparison: in 2018 were sold 94,6@now;% of lots@now;— is the highest at auction since 2010). In 2020 percentage of sales fell to 86@now;% (sold 60 of the 70 lots).

auction Sales in 2019 has grown in volume to $88,1 million, whereas the pre-estimate auction houses ranged from $51,5 million to $74.4 million These figures on 245@now;% higher than the volume of auction sales artist in 2018 — then raised $25.5 million was also a record for the KAWS. Sales for the first quarter of 2020 has grown in volume 88@now;%, with a total value of just under $5.4 million (compared to $2.9 million in the first quarter of 2019). Since 2008, auctions of works by KAWS has sold more in the amount of $137 million.

Average prices for works by KAWS

the Average price of sales of the artist since 2008 is $86,3 thousand Average auction prices for works by KAWS in recent years fluctuated in the period between 2014 and 2016 years saw a decline to 31@is now;%, followed by an increase of 75@now;% over the next three years ($36,3 thousand in 2017 to a new record value of $131.3 thousand in 2019-м). The average sale price in the first quarter of 2020-го amounted to $91.2 thousand, 146@now;% higher than the same indicator ($37.1 thousand) the previous year.

In the period from 2013 to 2020 72@now;% of all lots sold (1114 items) went for prices equal to or above the mean estimate. In 2019, exceeding the upper boundary estimeyta sold 59@now;% of the lots (398 items) totaling $54.9 million, representing 62@now;% of the turnover of sales KAWS in price terms for the year. In the first quarter of 2020-го only 66@is now;% lots left at the price of the average estimate or higher (compared to 76@now;% in the first quarter of 2019-го) and amounted to only 30@now;% of total sales ($1.2 million).

the sale of the arts

the Largest volume of sales of works by KAWS in terms of cost in 2008 amounted to painting: $101.4 million (74@now;% of the total value of sold works) for 282 lots sold (18@now;% of subjects). The sculptures were sold in much greater numbers (63@now;% of lots sold, 003 or 1 object), but the sales were "only" $29.6 million (22@is now;% of the total turnover). Sale of printed materials $ 16@now;% of the total number of lots sold (258 subjects) in the amount of $5.4 million (4@is now;% of turnover). Sale of original graphics was limited to only 17 lots (1@is now;% of subjects) in the amount of $139.3 thousand (0,1@is now;% of turnover).

the Sale of painting can be divided into works on canvas and paper, each of which was presented at auction since 2010. Over 261 job on the canvas in the amount of the proceeds was us $99.4 million (72@now;% of total turnover), whereas 21 work on paper brought a little over $2 million (less than 1@is now;% of the total turnover).

table 2. Auction sale of works by KAWS art

type of art	the Number of lots sold, units.	the Share of all lots sold, %	the Volume of sales, mln	the Proportion of total sales, %
Paintings on canvas	261	16	99,4	72
Painting on paper	21	1	2	1
Sculpture	1003	63	29,6	22
Graphics	258	16	and 5.4	4
Draw the products	17	1	0,14	0,1

sales for the year of creation of the work

the works of KAWS at auction, usually cover the artist's work for twenty-four years (1997 to 2020). If you compare the two decades of the artist's work, 2000-2009 and 2010-2019, sales of works created in these periods are comparable in terms of volume numerically (48,5@now;% of the total, $66 million and $67.7 million, respectively), and the number of lots sold (47@now;%, 725 and 769 subjects, respectively). Works of art created in 1990-х years, contributed to the overall results much less modest contribution of $3.5 million (the 2.5@is now;% of total sales) and 5@is now;% of lots sold.

Draw attention to the results of the works of individual years. So, in 2019, the highest amount of sales within one year reached work 2005-го: 54 subject (3,4@now;% of all lots sold) were sold in the amount of $17.3 million (12,6@now;% of turnover). The most commonly sold series KAWS, established in 2005, — sculpture Companion (26 lots) and painting Kimpsons (18 lots), including a record sale for $14.7 million In the same 2019-м recorded the highest share of sold items from the auction went 144 of the object (for 90.9@now;%), established in 2013, mainly sculpture Companion (65 lots) and paintings by KAWS Bob (18 lots) for a total of $12.2 million(8,9@now;% of total sales). Two lots, made in 2020, was sold in the amount of slightly less than $10 thousand Higher average sales price by year of production is $232 thousand for works of art 2014: 58 lots@now;— mostly painting from the series KAWS Bob (7 lots) and Man’s Best Friend (14 lots) as well as sculpture Companion (24 lots)@now;— was sold for $13.5 million.

Since 2008, 35@now;% of all lots sold (535 items) was sold at auction within five years after the creation, most of them@now;— within two years (120 lots, 7,5@now;% of all sales). Items coming up for auction within twelve months from the date of establishment, put up for auction in 2011 (37 lots), and the first lot was donated by the artist directly from the Studio for a charity auction Christie's in new-Йорке (November 2011). In 2019, sold 26 lots were created within twelve months before the sale (4@is now;% of the lots sold in 2019), with 77 lots were sold for one-двух years since their creation.

50 of the most expensive works are the only 3@is now;% of all auction lots in quantity but 56@now;% of the total sales volume ($77 million). 36@now;% from the top-50 lots were sold through auctions in Hong Kong (18 items worth $35 million — 45@now;% of the total). Sale in new-Йорке was 38@now;% of sales ($29 million), 14@now;% of sales were made in London ($10.8 million).

TOP-10auction sales KAWS

Ten of the highest auction results for KAWS (excluding the buyer's Commission) amounted to $41.3 million (just over 30@now;% of total sales in numbers since 2008). 90@now;% prices TOP-10 lots KAWS was set at auction in 2019, when all works are painting with acrylic on canvas.

table 3. TOP-10 auction sales of works by KAWS

n	Title / year of creation	date of sale	auction house	the City	the Price (excluding buyer's fee), $
1@is now;	The KAWS Album (2005)@now;	2019, April	Sotheby’s	Hong Kong	12@now;700@now;000
2@now;	Untitled (Kimpsons #1) (2004)@now;	2019, October	Sotheby’s	Hong Kong	6@now;223@now;000
3@is now;	The Walk Home (2012)@now;	2019, may	Phillips	new-Йорк	5@is now;000@now;000
4@is now;	In the Woods. Triptych (2002)@now;	2019, may	Christie’s	new-Йорк	3@is now;200@now;000
5@is now;	Untitled (Fatal Group) (2004)@now;	2018, November	Phillips	new-Йорк	2@now;900@now;000
6@now;	Armed-Away (2014)@now;	2019, may	Christie’s	Hong Kong	2@now;540@now;000
7@is now;	Untitled (Kimpsons) (2003)@now;	2019, April	Sotheby’s	Hong Kong	2@now;222@now;500
8@now;	Kurfs (Tangle) (2009)@now;	2019, may	Christie’s	new-Йорк	2@now;200@now;000
9@now;	Kurfs (Hot Dog) (2008)@now;	2019, may	Sotheby's	new-Йорк	2@now;200@now;000
10@now;	Untitled Kimpsons (2003)@now;	2019, April	Sotheby’s	Hong Kong	2@now;159@now;000

Sales by auction and country auction

Sotheby's occupy a big market share of the works of KAWS, with sales of $51.8 million (38@now;% of the total proceeds of all auctions) in 2008. This is followed by Phillips ($45.2 million, 33@now;%) and Christie's ($26.2 million, 19@now;%). The greatest quantity of the items were sold through the auction house SBI Art Auction in Tokyo (374 lot 23,5@now;% of lots sold by number) with a modest sales — $4.5 million the Second position by the number of lots KAWS keeps Phillips (299 items 18,8@now;% of the total). The geography of sales of the artist is as follows: Hong Kong (40@now;% of sales from $54.3 million, and 292 lots — 18% of the works sold), new-Йорк (35@now;% of sales from $48 million, 234 lots, 33@now;%) and London (15@is now;% of sales from $20.8 million, 158 lots — 10@now;% of the works sold).

Re-sale of works by KAWS

From 2016 to 2020 KAWS had 41 the precedent of re-sales, up 3@is now;% of the total number of lots sold at auction. More than 80@now;% of the lots (34 items) showed a growth of prices when re-selling, on average, 200@now;%. 10@now;% of the lots (4 items) were sold below the cost of the original purchase, on average14@now;%. Two lots when trying to re-sale remained unsold.

One lot sold without a change in price, the first was sold for $70 million (estimé $30-40 million) at Sotheby's in new-Йорке in may 2014 and reached the same hammer price after three years at Christie's in new-Йорке. It is similar to the work of the steam group (Kimpsons 6, 2001) in October 2019 was re-sold at a price of $330 thousand at Sotheby's in Hong Kong, showing an increase of prices on 396@is now;% within three years (compound annual growth rate CAGR value — 131@now;%).

Returning to the auction the triptych "In the woods" (2002. Acrylic on canvas,) shows a good example of the significant potential changes in auction prices of KAWS in recent years. In March 2016 it was sold for $350 million at Sotheby's in new-Йорке (estimate $200-300 thousand), and in may of 2019 went to Christie's in new-Йорке for $3.2 million (estimate $1.5–2 million). Selling showed an increase cost of $2.85 million ( 814@now;%) over a three-year period and established the fourth-largest sales price KAWS at a public auction.

6 of 25 work (all — painting), repeatedly returning to the auction in 2019, was from the estate of a businessman the game industry Ryan brunt, who died in March 2019. In the first part we mention Brant as one of the largest private owners of works of art by KAWS. Five of these six works were purchased in 2018 and distributed to Phillips in London (June 28, 2019) and Sotheby's in Hong Kong (7 October 2019). Four paintings were sold for a total amount of just over $500 thousand and showed an increase in final prices 19@now;% compared to $420 million (at Christie's in new-Йорке in September 2018, they were sold as a combined lot).

Total

in the analysis of statistics of auction sales KAWS collectors should pay attention to the following:

• on the auction sale (secondary) market started in the same year, when the artist took up the gallery Perrotin in other cases, it would cause suspicion of collusion of the dealers and auction houses, however, the subsequent auction sale KAWS confirmed the presence of demand from real buyers;

• the highest prices belong the paintings of the artist (or rather, original paintings on canvas)@the semicolon and although the painting is not the most recognizable format in the works of KAWS, but it was his most high-profile Museum exhibitions;

• for successful re-sales of the artist's work as representative of modern art is characterized by a short period of possession — to five years. The best indicators are works with a good provenance, previously tested in known private collections. In other words, the tactics of "buy and quickly sell" does not work in 100@now;% of cases;

• the best places for sales of works by KAWS — regions with the maximum number of public exhibitions: USA (new-Йорк) and Asia (Hong Kong). With the aim of acquisition in the public market, you may want to pay attention to the auction house the second-третьего tier (same SBI Art Auction in Tokyo);

• according to statistics, up to 50@now;% contemporary artists with an aggressive marketing policy not experience an economic recession lasting more than one year. From this point of view of KAWS — is one of the most protectedthe authors, who had become a symbol of the pandemic COVID-19 and successfully switched to digital works;

• unfortunately for many who would like to quickly capitalize on the dealer you are working with KAWS in the near future, the next few years is not best for this period. As a rule, available-for-sale revolving Fund contemporary artists whose auction records exceed the one-time $10 million (as it did with KAWS in 2019), a sharply stratified for super-expensive price segment and relatively cheap work for the mass market. The cost of the first growing slowly but steadily, and the drawing operation (the serial sculpture, and prints) have their price ceiling;

in Other words, the risk of those who managed to buy the work of Brian Donnelly to the beginning of quarantine (especially series 2010-х years), is likely to be justified and the investment will pay off. And the rest have to follow closely themed limited series, which will create a KAWS in the near future, the relationship of the artist with his new gallery Skarstedt (particularly if she manages his career or is it KAWS now manages the gallery), and certainly — to establish a mobile the application, with whom it will be a lot of interesting moves. If the correct insider information that the artist included in the marketing group, known to the world as Banksy, he'll surprise us, and repeatedly.

meanwhile, in parallel, should pay attention to young names who are starting their way up the stairs of the art-рынка. They sign contracts with galleries, actively exploiting new markets and technologies and work with atypical artistic environment of the audience. Among them, there are still a lot of KAWS’ов, believe me.

Denis Belkevich, AI