This analysis of the Spring 2018 Contemporary art sales results—including a look at market share by artist and a list of the most dynamic lots—is available to AMMpro subscribers. Subscribers get the first month free on monthly subscriptions. Feel free to cancel at any time before the month is up. Sign up for AMMpro here.
The Contemporary art sales in New York this May were significantly smaller than the total sales in the Impressionist and Modern category but that doesn't mean the sales were inconsiderable. Overall, there was $1.143bn in Contemporary art sold in New York during the May sales cycles. That was up 6% over the previous May.
So the headline is that Contemporary art is still growing. But that growth is coming in a different form from previous years as the following numbers will show. More to the point, the growth is quite positive for the sustainability of the market. The Evening sales volume rose 3% from 2017 to 2018 as far as the May sales in New York are concerned. But the day sales. Oh, the day sales, my friends. That's where the action has been building for some time.
This May the day sales out performed spectacularly. The performance of day sale lots added to evening sale performance for artists like George Condo to significantly change the impression of how these artists are performing. We'll get to that analysis. But first, let's look at the actual numbers.
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