FYI – For our Clients Who Own Fine Works of Art & Those Who Wish They Did
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ArtPrice Report of May’s Top 2010 Sales:
A Top 10 at $324.3m
In just one week (05/04 – 05/12), Christie’s and Sotheby’s generated six results above the $25m line. The combined revenue from the top 3 results ($95m for Picasso’s Nude,Green Leaves and Bust + $47.5m for Giacometti’s Grande tête mince + $29m for Warhol’s Self Portrait) almost equals the total generated by Sotheby’s, Christie’s and Phillips de Pury from their 2009 May sales ($180m from 734 lots). The combined revenue from Christie’s and Sotheby’s Impressionist & Modern Art sales was up 205% vs. 2009. In May 2009, no-one dared to offer Picasso’s major works for sale. A year later, his works are at both ends of the Top 10 (in 10th position, his Femme au chat assise dans un fauteuil fetched $16m, estimated $10m – $15m ). His peer Henri MATISSE is in 6th position with Bouquet de fleurs pour le quatorze juillet ($25.5m, Sotheby’s).
Top 10 Hammer price in May 2010