Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Impressionist & Modern Evening Sale Totals in Historical Context

May 7, 2009 by Marion Maneker

The graph below shows the totals for the New York Impressionist & Modern Evening sales over a nine year period beginning in 2001 up to this week. You can see from the graph that the final bar is smallest since May 2003. [We missed the gargantuan Greentree sale, where the $100 million Picasso sold–in an earlier compilation. So we’ve corrected the graph.] In May 2003, the overall average lot value was $2.6 million vs. a combined average lot value of $2.4 million this week.

mod-evening-sales-2001-2009

Compared to the last few years the total looks puny but in the context of the first few years of the century, the sale totals would have been on the low end but well within the range of a normal market for what was then a decent climate for buying and selling art. So let’s look at this week’s evening sales in that context. In the chart below you can see May 2009 as the final bar on the graph. The 2001-2003 period was the previous recession. So this is a good period to compare. On that basis, the market his holding up well in terms overall volume and relatively well on the average price. Though factoring in a little bit of inflation over the six intervening years would change that a little bit.

mod-may-2009-evening-sale-in-context-of-2001-2003

More from Art Market Monitor

  • Understanding the Abu Dhabi Art FairUnderstanding the Abu Dhabi Art Fair
  • Not Interested in Naked BruniNot Interested in Naked Bruni
  • ABMiami: Toning Down & Spreading OutABMiami: Toning Down & Spreading Out
  • Gagosian: New York's Dominance WaningGagosian: New York's Dominance Waning
  • 2 x 200 Wants You to Own Art2 x 200 Wants You to Own Art
  • How to Make Your Art an InvestmentHow to Make Your Art an Investment

Filed Under: Auction Results Tagged With: Featured

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...