The year 2013 has been a good year for the art market, apparently. Even though the crisis kicked in at most of the European countries and America, the prices paid for art in 2013 are the highest ever.
Both Sotheby’s and Christie’s in New York have experienced a rapid growth. Christie’s New York contemporary sales rose to $1.4 billion in 2013, from $973.5 million in 2012. Sotheby’s 2013 tally for major New York sales also rose sharply, to $851.7 million from $794.7 million in 2012.
But not only Western countries have experienced this spending increase. At Sotheby’s Hong Kong in a sale held October 5, ‘The Last Supper’ (2010) by Zeng Fanzhi was sold for $23.3 million.
Further, the highest amount paid for an artwork at the Christie’s New York Post-War and Contemporary Art Evening Sale was the $142,405,000 paid for ‘Three Studies of Lucian Freud’ (1969). Andy Warhol’s ‘Silver Car Crash (Double Disaster)’ came in second and was sold for $105,445,000. Our own Jeff Koon’s ‘Balloon Dog’ (Orange) (1994) was sold for $58,405,000. The red and the blue Balloon Dog are available at Famous!
So, despite of the crisis, it wasn’t a terrible year for the art market at all. Let’s hope this will continue in 2014!