Colin Gleadell gives some valuable perspective on the ups and downs of the Henry Moore market before dropping a big tease at the end of his piece. We won’t spoil Gleadell’s column. But suffice it to say that Gleadell predicts Moore will become another recognizable trophy “cliché:”
30 years ago, Moore was the world’s most successful living artist at auction. In 1982, four years before his death, Sotheby’s in New York sold a 6ft reclining figure, made in 1945, for $1.2 million to US collector Wendell Cherry. […] Although a new record of $4.1 million was set in 1990, Moore’s market slumped during the recession that followed. Between 1991 and 1995, average prices fell by up to 73 per cent. It was during this period that the New York real estate developer, Sheldon Solow, acquired the Festival figure that he sold at Christie’s last week, paying $2 million for it in 1994.
Ten years ago, Moore’s market began a fitful recovery due to the belief that he was undervalued. But in the last four years, it has been positively bullish. Last November, Art Market Research calculated that average auction prices for the best Moore sculptures had increased by 183 per cent since 2007, with a record £4.3 million ($8.4 million) set in 2008.
Modern Sales Review: When Moore Mean More (Telegraph)
