Quietly and without much fanfare, the market for works of art by Sam Gilliam has been on fire. In the last month, three of his top 5 prices have been achieved, including a record set at $684,500 at Sotheby’s September 27th mid-season sale for Rays from 1971 which was estimated at $100-150k. Also in September, a DC auction house offered Fan Fire IV from 1970 with an estimate of 100-150k. The buyer took it home for $332,400. Earlier this month, Rubiyat from 1973 was offered at Swann’s with a more modest $60-90k estimate. It only took $191,000 to bring the work home that day.
The art market functions in mysterious ways but sales often increase in front of shows that are expected to have a strong effect on the artist’s prominence. It just so happens that Mnuchin Gallery’s Sukanya Rajaratnam has been putting together a show that opens in early November.
Here are some details from the press release:Continue Reading