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Impressionist & Modern Sales Analysis, Spring 2019

May 30, 2019 by Marion Maneker

Claude Monet, Meules $110m

Without the Rockefeller collection that added so much volume to the Impressionist and Modern category last year at this time, there was a huge drop in volume and sell-through rates this Spring. Average prices also dropped significantly. But in other ways the category remained consistent. Half the value of the Evening sales (and slightly more for the overall sales) volume was contained within the top ten lots.

The top lot, Claude Monet's grainstacks which sold for $110m, was able to drive the market share for Monet to the top spot over traditional market-share leader Pablo Picasso. That's a fairly big deal given the way Picasso dominates the Imp-Mod market.

Some of the other surprises in this Spring's Imp-Mod market were the strong market dynamics among the top lots which may have been a product of there being so much estate material offered. Estimates clearly were pushed too hard. Buyers were selective but aggressive for the works they really wanted.


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