1. International Art Market Sees Strong Sales in 2022 with $80 Million Minimum for Top Ten Lots
The international art market has seen impressive sales in 2022, with the tenth most expensive work sold having a price tag of $80 million. This is significantly higher than the top ten lots sold in both 2020 and 2021. In 2020, just two of the top ten lots fetched prices above $50 million each, while in 2021 all ten of the top lots sold for well above the $50 million mark. However, the total of $1.1 billion for the lots sold in 2022 is actually slightly lower than the comparable total of $1.2 billion for 2021.
This year, the strong sales can be attributed to the unprecedented collection assembled by Paul Allen, the late billionaire co-founder of Microsoft. Allen's collection added a stunning $1.6 billion to Christie's bottom line, which is roughly the equivalent of an entire spring or fall season at all three major auction houses. Five works from the Allen collection each brought in over $100 million and accounted for approximately half of the top ten lots sold this year. Out of the top ten, only four works were not from the Allen collection.
Overall, these sales figures demonstrate the continued strength of the international art market, particularly in the upper reaches where bonafide trophy-hunting collectors are willing to pay high prices for the most sought-after works.
10. René Magritte, L’empire des Lumières (1961)
A painting by Surrealist artist Rene Magritte sold for $79.8 million at Sotheby's in London on March 2. The work, which was part of Magritte's "les lumieres" series, had never been sold before, having been acquired directly from the artist in 1961. The final price was well over the unpublished estimate of $60 million and set a new record for the artist, surpassing the previous record of $26.8 million set in November 2018. The painting was from the collection of Anne-Marie Crowet Gillion, who had modeled for the artist and was the daughter of one of his most important patrons. Sotheby's promoted the sale by transforming the facade of its London headquarters into a trompe l'oeil duplicate of the work.
9. Jean-Michel Basquiat, Untitled (1982)
An untitled work by Jean-Michel Basquiat sold for $85 million at Phillips in New York on May 18. The large canvas, measuring over 16 feet wide and eight feet tall, was consigned by Japanese billionaire Yusaku Maezawa and was from the artist's "golden year" of 1982. The sale price marked the third-highest result for the artist and represented a 50% increase from the last time the painting was sold in 2016. Maezawa had acquired the work from Christie's in May 2016 for $57.3 million when it was sold by New York collector-dealer Adam Lindemann.
8. Andy Warhol, White Disaster (White Car Crash 19 Times) (1963)
A painting by Andy Warhol titled "White Disaster [White Car Crash 19 Times]" sold for $84.5 million at Sotheby's in New York on November 16. The 1963 silkscreen was based on a photograph of a car accident that appeared in Newsweek magazine in 1963 and was the first "Death and Disaster" painting by Warhol to come to market in nearly ten years. The painting was shrouded in mystery, with the consignor having purchased it through Thomas Ammann Fine Art AG in 1996. Some market watchers linked the work to the Martinos shipping family, known for their Warhol holdings and close ties to Doris Ammann. The sale made the painting the third most expensive Warhol sold at auction.
7. Lucian Freud, Large Interior, W11 (After Watteau) (1981–83)
A painting by Lucian Freud titled "Large Interior W11 (after Watteau)" sold for $86.3 million at Christie's in New York on November 9. The work, which was created between 1981 and 1983, exceeded the previous auction record for the artist (set in 2015 when the painting "Benefits Supervisor Sleeping" sold for $56 million) by more than $20 million. The painting was from the Paul Allen collection at Christie's and had been acquired by Allen for $5.8 million at Sotheby's New York in 1998.
6. Gustav Klimt, Birch Forest (1903)
A painting by Gustav Klimt titled "Birch Forest" sold for $104.6 million at Christie's in New York on November 9. The work was one of four paintings that were restituted to the heirs of Austrian sugar magnate Ferdinand Bloch-Bauer and his wife Adele in November 2006. The painting was purchased by Paul Allen for $40.3 million at the time and has now become the most expensive Klimt sold at auction, more than doubling in price over the past 16 years.
5. Paul Gauguin, Maternité II (1889)
A painting by Paul Gauguin sold for $105.7 million at Christie's in New York on November 9. The work, from the artist's Tahitian period, more than doubled in price from the $39.2 million it was purchased for at Sotheby's in 2004. This sale set a new auction record for the artist, surpassing the previous record of $40 million set in 2006. Private sales of Gauguin's works have reportedly reached as high as $300 million. This is now the highest-selling work by Gauguin at auction.
4. Vincent van Gogh, Verger avec cypres (1888)
A painting by Vincent van Gogh titled "Verger avec cypres" sold for $117.2 million at Christie's in New York on November 9. This sale set a new record for the artist, surpassing the previous high of $82.5 million for the work "Portrait of Doctor Gachet" which was sold in 1990. The Van Gogh market experienced significant growth over the past few years, with the previous record being set more than 30 years ago. The painting was acquired privately by Paul Allen from collectors Charles Shipman and Joan Whitney Payson in June 1998.
3. Paul Cézanne, La Montagne Sainte-Victoire (1888–90)
A painting by Paul Cezanne titled "La montagne Sainte-Victoire" sold for $137.8 million at Christie's in New York on November 9. The work was part of the Paul Allen collection and had been purchased by Allen for $38.5 million at Phillips, de Pury & Luxembourg in May 2001. The sale price, which was nearly four times the original purchase price, set a new auction record for the artist, surpassing the previous record of $60.5 million set in 1999. Only two people competed for the work at auction.
2. Georges Seurat, Les Poseuses, Ensemble (Petite version) (1888)
A painting by Georges Seurat titled "Les Poseuses" sold for $149.2 million at Christie's in New York on November 9. The work, which was created in 1888, is believed to be one of the artist's most celebrated and iconic works and is the most complete and refined version of the scene among the associated works. The sale price was more than four times the previous record for the artist, which was set in 1999 when the work "Paysage, l'Ile de la Grande-Jatte" sold for $35.2 million at Sotheby's in New York. The painting was part of the Paul Allen collection.
1. Andy Warhol, Shot Sage Blue Marilyn (1964)
A portrait of Marilyn Monroe by Andy Warhol sold for $195 million at Christie's in New York on May 9. The work, which was from the collection of Swiss siblings Doris and Thomas Amman, was the most expensive piece sold at auction in the year and was purchased by mega-dealer Larry Gagosian. The sale price was the most expensive pre-sale estimate ever placed on a work, although it fell slightly short of the estimate. The work generated significant buzz and was the only piece in the top 10 most expensive works sold at auction in the year that was not from the Paul Allen collection.
2. Ernest Pignon Ernest: The Pioneering Street Artist Whose Work Remains Undervalued
Ernest Pignon-Ernest is a French artist who has been creating art in public spaces for over 50 years. Despite being considered a pioneer of the Street Art movement, Pignon-Ernest's work is distinct from the typical style associated with Street Art. His drawings, which are made in the studio using charcoal, erasers and white paint, are meticulous, academic and aesthetically demanding. Pignon-Ernest's style has been described as anachronistic and his work has received little support from cultural institutions in France, but it has gained increasing popularity in recent years and is represented by the Lelong Gallery.
Pignon-Ernest's art is politically and socially engaged, and he seeks to raise awareness about various issues such as the Algerian War, Simone Veil's fight for abortion rights in France, the struggle against Apartheid and AIDS in South Africa, and the situation of migrants in Europe. He believes that "it is not a question of making political images, (but that) there is a political way of making images." Pignon-Ernest's images are meant to evoke emotional responses from viewers and the location of the work is important as it is chosen for its specific historical and symbolic significance.
Despite being admired by the general public and many artists and thinkers, Pignon-Ernest's work has remained relatively affordable in the art market. However, his iconic images, such as Pasolini holding his own body in his arms and the portrait of Rimbaud, have gained immense popularity and have become iconic. In 2021, Pignon-Ernest was elected to the Academy of Fine Arts and at 80 years old, he continues to create art with a poetry and a constancy that has earned him the admiration of many.