Our friends at Pi-eX have compiled a look at the Impressionist and Modern Evening sales using data they compile. These charts don't include works from the category sold in single-owner or curated sales and they separate estimated works from works with an estimate upon request with only the first chart adding the estimated upon request works into the totals. All of the figures are based upon hammer prices to exclude any variation in terms.
The headline is that this is the strongest Impressionist and Modern season in the dozen years covered by the data. That excludes the Rockefeller sale too. Only in 2012 and 2015 did the category outperform estimates. Even then it was only with works estimated upon request that are not calculated into the overall high and low estimates. The high-water mark for the category was May of 2105 when the sales totals were about the same as they had been in 2014. Estimates had been re-calibrated in 2015 after the underperformance of the previous year.
Category totals finally exceeded the 2015 level (including works estimated upon request) suggesting the Impressionist and Modern market may continue to see a revival if the auction houses can generate worthy supply.
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