Was it just last week that the art world descended into a chaotic relay race of back-to-back auctions, gallery openings, and art fairs? (It was.) Alas, now that the dust has settled and the bonhomie faded, the picture of the state of the art market emerging is not exactly rosy.
The auctions serve as something of a public litmus test for the broader art market, and as art advisor Todd Levin told Midnight Publishing Group News amid the disappointing Gerald Fineberg sale at Christie’s, the market is “on the liminal edge of a serious corrective period, there’s no two ways about it.”
Withdrawals, works barely scraping the low end of presale estimates (after fees!), and a flurry of works failing to find buyers at all contributed to the feeling that we may be witnessing the correction in real time. Of course, there were exceptions, and it’s not like the big three auction houses didn’t generate nearly $1.5 billion in sales cumulatively. But, things felt shaky.
At art fairs, it’s harder to gauge how well galleries are faring. While many claimed to have presold entire booths, others simply declined to share sales. Typically, to assemble a Price Check report after a major fair like Frieze New York, we rely on galleries and the fair itself to provide some measure of insight into how things went. This year, the reports were few and far between.
There are always a handful of blue-chip galleries willing to share sale prices, and this year was no exception, but where we generally receive individual prices for works, this year many dealers gave only vague price ranges.
Individual prices that were shared, or price ranges for solo presentations, feature into the master list below, but again, many dealers opted out of our breakdown of those numbers.
David Kordansky sold multiple works from its solo presentation of Lauren Halsey, and 303 Gallery sold works by artists including Sam Falls, Jeppe Heine, Alicia Kwade, and Sue Williams. David Lewis sold works ranging from $12,000 to $65,000 by artists including Claude Lawrence, Greg Parma Smith, Claire Lehmann, Kan Seidel, and Leah Ke Yi Zheng. Tina Kim sold works ranging from $15,000 to $300,000 by Pacita Abad, Ghada Amer, Tania Perez Cordove, Maia Ruth Lee, and Davide Balliano.
Below, see the list of reported sales, converted to USD for ease of reading.
$2.5 million: An untitled painting by Jack Whitten at Hauser & Wirth
$950,000: Jack Whitten, The Mingo Altarpiece: For George Mingo 14 September 1950–6 December 1996 (1996) at Hauser & Wirth
$800,000: Jack Whitten, Black Hands (2014–15) at Hauser & Wirth
$600,000: Jack Whitten, Physis II (Dedicated to the Memory of David Budd) (1991) at Hauser & Wirth
$600,000: A painting by Milton Avery at Xavier Hufkens
$404,000 each: Daniel Richter’s Where to Know (2023) and Blumen aus Eisen (2023) at Thaddaeus Ropac
$135,000: A work by Julie Mehretu at White Cube
$95,000: Jack Whitten, The Great Loop #2 (2012) at Hauser & Wirth
$85,000: A painting by Minoru Nomata at White Cube
$80,000: A painting by Cathy Wilkes at Xavier Hufkens
$55,000 each: Pam Glick, Box of Rain (2022) and four other paintings by Pam Glick at Stephen Friedman Gallery
$55,000: A painting by Constantin Nitsche at Xavier Hufkens
$55,000 each: A group of Sue Williamson embroideries at Goodman Gallery
$45,000 to $130,000: The entire presentation of paintings by Naudline Pierre at James Cohan
$45,000: A painting by Ilana Savdie at White Cube
$40,000: A painting by Cassi Namoda at Xavier Hufkens
$10,000 to $12,000: All paintings by Julia Yerger at Chateau Shatto
$8,000 to $20,000 each: Paintings by Sam Lipp at Derosia
$7,200: A painting by Léon Wuidar at White Cube
$6,000 to $32,000 each: Works from the dual presentation of Sahar Khoury and Elisabeth McIntosh at Canada
SCULPTURES & INSTALLATIONS
$1.25 million: A work by Doris Salcedo at White Cube
$500,000: A large bronze sculpture by William Kentridge at Goodman Gallery
$450,000: A work by Antony Gormley at White Cube
$300,000: Matthew Ronay, The Crack, the Swell, an Earth, an Ode (2022) at Casey Kaplan
$175,000: A sculpture by Thomas Houseago at Xavier Hufkens
$160,000: A ceramic work by Park Seo-Bo at White Cube
$100,000 each: Two bronze works by Tracey Emin at Xavier Hufkens
$80,000 each: A full edition of a neon by Tracey Emin at Xavier Hufkens
$75,000: Pamela Rosenkranz, Anamazon (Wish Things) (2023) at Sprüth Magers and Karma International joint presentation of the artist
$75,000: Pamela Rosenkranz, Anamazon (Amasses) (2023) at Sprüth Magers and Karma International
$45,000: A sculpture by Dahn Vo at White Cube
PRINTS, DRAWINGS, PHOTOGRAPHS
$900,000: Robert Longo’s Study of Cotton Field (2022) at Thaddaeus Ropac
$458,000: Martha Jungwirth, Ohne Titel (2020) at Thaddaeus Ropac
$301,000: Another work by Martha Jungwirth at Thaddaeus Ropac
$200,000: A work on paper by Paul McCarthy at Xavier Hufkens
$150,000: A work on paper by Louise Bourgeois at Xavier Hufkens
$85,000: A work on paper by Paul McCarthy at Xavier Hufkens
$62,000 each: Six works on paper by Tracey Emin at Xavier Hufkens
$40,000: A work on paper by Huma Bhabha at Xavier Hufkens
$30,000 to $90,000 each: All the works by Robert Nava at Pace
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