Final 12 months, world public sale gross sales of work by artists below 40 soared to $259.5 million, a 177 p.c enhance on 2020, based on knowledge offered by Artprice, a French-based public sale analytics firm.
Keen to leap on this fast-moving bandwagon, Sotheby’s has provide you with a brand new format referred to as “The Now” gross sales, specializing in works by probably the most coveted names of the second. On paper, this 23-lot providing was meant to be the warm-up act for the primary sale of works by established modern artists, however with a lot consideration — and cash — being targeted on youthful names, for a lot of, this was the night’s major occasion.
Like hungry chicks in a nest, banks of Sotheby’s workers members screamed phone bids as Lot 1, the 2020 portray “Falling Girl,” by the New York-based artist Anna Weyant, set the tone. Estimated at $150,00 to $200,000, it bought to an internet bidder for $1.6 million, beating the file $1.5 million set for the artist at Christie’s final week.
Feminine artists and artists of shade continued to be the dominant forces available in the market for works by youthful contemporaries. Sotheby’s proudly introduced earlier than “The Now” sale that, for the primary time, feminine artists outnumbered males at considered one of its auctions.
Capitalizing on Simone Leigh’s illustration of the US on the Venice Biennale (the place considered one of her sculptures additionally gained a Golden Lion award), Sotheby’s included the life-size blended media feminine head “Birmingham,” from 2012. This triggered one other feeding frenzy of telephone competitors, the hammer lastly falling at a file $2.2 million, 10 instances the presale higher estimate.
Complicated, multilayered work of the Los Angeles-based Christina Quarles have impressed critics and guests on the Biennale’s central exhibition. This acclaim appeared to supercharge her market, with the 2019 canvas “Night time Fell Upon Us Up On Us” hovering to a file $4.5 million. The earlier public sale excessive for her works had been $685,500.