The Mutualart.com site has a very good review of the first quarter 2011 auction market. The review includes the top selling artist at auction (Picasso followed by Warhol, followed by Bacon), auction house turnover or sales for Bonhams, Sotheby's, Christie's, and Phillips, (see image, click image for larger view) as well as the top ten selling lots (Picasso, Bacon, Dali), the top ten surprises and the top ten disappointments (a Gauguin, Giacometti, and a Dali).
Mutual Arts reports on the auction house sales
The graph shows that Sotheby's, Phillips de Pury and Bonhams all enjoyed steady increases between 2009 and 2011 (in fine & visual art auctions). Christie's, however, failed to match its steller first quarter of 2009. During that quarter, Christie's three-day sale of the Collection of Yves Saint Laurent and Pierre Bergé at the Grand Palais in Paris, realized €342.5 million($443.1 million), setting a world record for the most valuable private collection sold at auction, which included Henri Matisse's Les couscous, tapis bleu et rose, which fetched $46.5 million.
The total turnover of sales of the top 20 auction houses shows a significant 24% rise between the first quarter of 2010 and the first quarter of 2011. It also illustrates the art market dominance of Sotheby's and Christie's compared to the other top 18 auction houses combined. However, even as the turnover of Sotheby's and Christie's increased by 21% between Q1 of 2010 and Q1 of 2011, the total sales of the other top 18 venues jumped by 74%.
Click HERE to read the complete review of the first quarter auction market.
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