Despite a handful of exceptional results, the American art market remains sluggish. Sotheby’s and Christie’s most recent sales of American art combined for a total hammer of $42,437,000 ($50,364,300 with premium), against a pre-sale estimate of $46,162,000 to $68,318,000.
The market for paintings by Old Masters has historically been one of the least volatile sectors of the global art market. While Old Master Paintings underwent a severe price correction during 2009, the peak-to-trough drawdown was less severe than it was for most other art market sectors. In 2010 and 2011, there has been a sharp spike in the value of Old Master Paintings. Artworks of this type are now generally trading at levels comparable to their pre-crash highs.
Between 2006 and 2008, Post-War and Contemporary art underwent an extraordinary bull market run. Auction prices for these artworks rose at an unprecedented rate, outperforming every other sector of the art market. By the end of 2008, macroeconomic factors began to cause a price correction. Within a year, Post-War & Contemporary Art had undergone the […]
Price growth for Impressionist & Modern Art was notably robust during the majority of the past decade. While values for artworks temporarily eroded in the midst of the recent financial crises, they have since made a partial recovery, and currently seem to have stabilized. Impressionist and Modern Art
This historically volatile sector of the art market has fared poorly in recent years. In contrast to many other market sectors, after a steep drop in 2009, prices for American art have remained relatively stagnant. As 2011 draws to a close, there has been little evidence that this trend is abating. American Pre-1950 Art