This detailed analysis of the November Contemporary Evening sales over the last 12 years was provided by our friends at Pi-eX. It is available to AMMpro subscribers. Subscriptions begin with a free month for the curious.
Our friends at Pi-eX have put together their analysis for the Contemporary Evening sales. The results, which need to take into account the large lump of the Leonardo that was sold fro $450m last year during a Contemporary Evening sale, show the Contemporary evening sales gaining ground slightly but at a controlled pace.
First, let's look at the sold lots in New York by value over the last 12 November Evening sales of Contemporary art. You can see that the Contemporary market peaked in 2014. Remember that these numbers do not include curate sales which emerged in 2015 and had some impact on the market.
Pi-eX also annotated the sales by guarantee with third-party guarantees represented in light blue and direct auction house guarantees shown in red. Without direct guarantees, the market would have peaked in 2013 instead of 2014. Starting in 2016, third-party guarantees began to play a central role in the November results. Over these three years, the volume of third party guarantees was the greatest of any period during the previous dozen years.
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