Sculpture Outperforms (Fall 2010)

On average, early 20th Century sculpture has significantly outperformed market benchmarks. In the May 2010 Impressionist & Modern evening auctions, 43% of the sculptures achieved hammer prices above their high estimates. Sculptures by Rodin, Noguchi, Bugatti and Giacometti yielded the auctions’ five highest measurable rates of price growth. While some lots of Modern sculpture failed to sell at the recent London auctions due to high reserve prices, overall the sculpture market has been quite strong, including at Art Basel. The rapid and well-publicized price appreciation of Giacometti’s sculptures can account for part of this market segment’s recent upward price movement; there has also been an increase in demand for works by other sculptors of the same class.

marketanalysis-F2010 – Chart 5

artmarketanalysis – F2010 – Chart 6

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