This analysis of the 12 years of Evening sales at Christie's, Sotheby's and Phillips was made possible with data from our friends at Pi-eX. It is available to AMMpro subscribers. Subscriptions begin with a free month for the curious. (Please note: these numbers do not include single-owner and curated sales that have punctuated the market at various times. The point of these charts is to show year-over-year changes and so the single-owner and curated sales are thought to interfere with a consistent comparison.)

Making sense of the last 12 years of Evening sales at the three auction houses in London and New York, it helps to look at the breakdown of auction value by lot value. In other words, how much of the market is attributable to the most valuable lots or to the middle market lots. These are evening sales so the overall value of the lots is very high. Pi-eX has broken the lots down into those over $10m, works that sold for between $4m and $10m, works sold for $1-4m and works below $1m.