Skate's Art Investment Review for the first half of 2013 has just been published. This issue focuses on leading artist sales in 2013, investment performance of blue chip artists, liquidity, changes in the Skate's top 5000 artists and female artists.
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Source: SkatesThe global art market is currently in the midst of its traditional summer break, which provides an opportune time to focus on the results of auction sales from the first half of 2013. Despite a number of record-breaking sales, both anticipated and unexpected, the art market is clearly experiencing stagnation at the top level with its weakest performance over the last three years.
Several key changes in the investment performance of premium-segment artworks also became evident during the first half of 2013. The auction houses managed to find exceptional works to put up for sale, and many of these sales saw stellar prices and corresponding media headlines. Three records were set by Christie’s during the Post-War & Contemporary Evening Sale in May, when Number 19 by Jackson Pollock sold for USD 58.4 million, Woman with Flowered Hat by Roy Lichtenstein for USD 56.1 million and Dustheads by Jean-Michel Basquiat for USD 48.8 million. Together with these three breakthroughs, auctions in general during the first six months of 2013 produced 61 sales at price points above USD 10 million and 328 sales above USD 2.5 million. However, new entrants contributed only USD 2.4 billion to Skate’s Top 5000, which is USD 10 million less than the amount contributed by the 343 artworks sold in the first half of 2012 at prices or above the rating’s threshold. Unless the upcoming fall and winter season proves to be unexpectedly strong, the art market’s performance for the full year 2013 is bound to confirm a slowdown...
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