Art Research Technologies on American Art

Art Research Technologies just released its report on American Art.  Unfortunately, the report states the American art sector has not rebounded nor shown increases over 2009 performance.  The report states buy-in rates were  high, reach nearly 40% during some sales and wwith many top lots at auction not selling. It will be interesting to see how the sales are this week in New York.  I will post the results when available.

ART reports

1. So far this year, the average price of an American artwork has fallen to a five-year low: Sotheby's average price is $111,361 per lot while Christie's is $101,252.

2. During the boom, Childe Hassam's average price grew by 279% going from $384,957 in 2005 to $1,460,042 in 2008.

3. Although Norman Rockwell outranks Andrew Wyeth in total sales, lots offered and high price since 2005, Wyeth has seen more sales over $5 million than Rockwell in that time.

4. John Singer Sargent's portraits bring 14% more on average than his European scenes, but the latter have dominated his total sales since 2000 grossing $46,073,275.

5. So far this year, highly valued works by Edward Henry Potthast have been rare. As a result, his total sales in 2010 are 79% below their 2005 level.

For more numbers on the American art market, you may purchase the latest edition of The ART Report on the Art Research Technologies site (click HERE for more information). The ART reports are excellent and give an in-depth review of the specific market sector.