Based on the 2022 data, we identified the trends to watch in 2023: strong demand for artists who are women; revivals of forgotten or undervalued artists; big names gaining value; naive painters, surrealists and their contemporary admirers; as well as demand for a wide range of quirky Asian artists and historical Asian painters.
The usual suspects—Monet, Warhol and Picasso—dominated the overall market share for the May sales in New York. But when we segment the market into Impressionist & Modern, Post-War & Contemporary and 21st Century art, many more artists begin to appear center stage.
Swann Auction Galleries semi-annual sale of African American art, an auction category pioneered by the house, totaled $3.6 million with 214 lots sold of the 241 lots offered. That total is a strong hammer ratio of 1.52—indicating strong interest from bidders—and a sell-through rate of 89%.
London’s Winter auction cycle, the first market feedback of 2022, tells us that despite the deeply unsettled global economic environment the art market remains a place where a lot of money is being spent. With a few lots auctioned in Shanghai and the remaining 810 or so going on the block in London, the sales had a com