This detailed analysis of the December Contemporary art sales in Paris was made possible with data from our friends at Live Auction Art. It is available to AMMpro subscribers. Subscriptions begin with a free month for the curious.
The Paris Contemporary art sales showed consistent strength this December even after the blowout results of last June when the combined sales reached €94m. The December sales were almost half that value at $47.5m reflecting not a decline in the Paris market so much as a return to the normal volumes.
On a percentage basis, the Parisian Contemporary art sales were in line on sell-through rates at around 80%. The top ten lots totaled €20m a number very similar to the top ten lots sold in June of 2017. Though in these sales, that €20m accounted for a much higher 42.5% of the overall value of the sales.
Perhaps most significantly, the average lot value for Contemporary art sold in Paris was €114k, a number lower that either in June of this year or June of last year.
Among the 79% of the lots that found buyers, the bulk (47%) were sold at prices within the estimate range. Only 36% of the sold lots made prices above the high estimate. A much smaller minority, 16%, were sold at prices below the seller's hopes and expectations.
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