ARTMARKET.COM – Artmarket.com and Artprice do not observe the impact of the crisis in Ukraine on auction sales – 22/06/2022 – 13:15.

Four months after the Russian army’s incursion into Ukraine, the Art Market continues to follow its agenda without being disturbed by the conflict unfolding at the gates of Europe. The prestigious Art Basel, TEFAF and Brafa fairs follow each other in Europe, just like the Venice Biennale or dOCUMENTA, without the ghost of war (more than the resumption of the Covid-19 epidemic or the threat of an ecological crisis) did not wash away the festivities.

Revenue from weekly art auctions (2021 to early 2022) © artprice.com

[https://imgpublic.artprice.com/img/wp/sites/11/2022/06/image1-fine-art-auction-turnover-2021-vs-2022early.png]

Tweet from Mykhailo Fedorov, Ukraine’s Deputy Prime Minister and Minister of Digital Transformation, calling for donation from NFT

[https://imgpublic.artprice.com/img/wp/sites/11/2022/06/image2-image2-tweet-Mykhailo-fedorov-donations-NFT.png]

With $ 6.1 billion raised at auction during the first five months, this start to 2022 is much more intense than the previous one ($ 5.4 billion over the first five months of 2021) announces Thierry Ehrmann, President and Founder of Artmarket.com and its Artprice Department. ” The auctions have already increased + 12% this year. “

+ 50% revenue in the US

The analyzes carried out by Artprice reveal a very intense start to the year 2022, although the organization of sales is still disrupted in several parts of the world (especially in Asia) by the Covid-19 pandemic.

The only leader this year, the United States recorded a 50% increase in auction revenue after the big spring sales. The last prestigious sessions were marked by the spectacular result approaching $ 200 million Shot sage blue Marilyn (1964) by Andy Warhol at Christie’s. The buyer, however, is none other than gallery owner Larry Gagosian, who would be well placed to suffer international sanctions against the Russian oligarchs he counts among his clients.

The spring sale in New York was also electrified by the sale of the canvas Without title (1982) by Jean-Michel Basquiat. Bought for $ 57.3 million in 2016 by billionaire Yusaku Maezawa and was sold this year for $ 85 million, that is, with a value increase of +48% in six years.

Without title (1982) by Jean-Michel Basquiat recorded an average annual return of + 6.8% over the six years it was part of the Maezawa collection. This capital gain will serve partly to cover Christie’s purchase costs (more than USD 11 million on this item), but also to reassure the market, which had seen Basquiat’s price rise feverishly with the purchase of Yusaku Maezawa. The Japanese collector had in fact acquired a canvas by the same artist and from the same year for a record sum of 110 million dollars in 2017.

Europe is following, Asia is waiting, Metavers is taking over

The United Kingdom begins the year 2022 with sales turnover increasing by + 35% and France by + 25%. Europe thus appears to have fully recovered from the health crisis, even though the Asian market was forced to postpone many sales on its side, due to a new wave of Covid-19. Hong Kong, for example, has only seen $ 146 million. in art auctions so far this year, compared to over half a billion this time last year.

At the same time, the cryptocurrency and the Web3 universe have been very generous in supporting the Ukrainian cause. kyiv has also started accepting donations in the form of NFTs from April 2022. Several artists have also launched charity sales of NFT works, such as JR in collaboration with Ukraine DAO or Pussy Riot, which sold a digital version of the Ukrainian flag for 6 , $ 7 million.

Pictures:
[https://imgpublic.artprice.com/img/wp/sites/11/2022/06/image1-fine-art-auction-turnover-2021-vs-2022early.png]
[https://imgpublic.artprice.com/img/wp/sites/11/2022/06/image2-image2-tweet-Mykhailo-fedorov-donations-NFT.png]

Copyright 1987-2022 thierry Ehrmann www.artprice.comwww.artmarket.com

Artprice’s econometrics department answers all your questions regarding statistics and personalized analysis: [email protected]

Learn more about our services with the artist in free demonstration: https://fr.artprice.com/demo

Our services: https://fr.artprice.com/subscription

About Artmarket.com:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Experience Artmarket with the Artprice department in video:https://fr.artprice.com/video

Artmarket with its Artprice division was founded in 1997 by Thierry Ehrmann, its CEO. They are controlled by Server Group created in 1987. See certified biography of Who’s Who In France ©:
https://imgpublic.artprice.com/img/wp/sites/11/2021/11/Biographie_thierry_Ehrmann_2022_WhosWhoInFrance.pdf

Artmarket is the global player in the art market with, among other things, its Artprice department, which is the world leader in databases of art quotes and indexes with more than 30 million indexes and sales results covering more than 782,000 artists.

Artprice by Artmarket, the world leader in art market information, has set itself the ambition through its Standardized Marketplace to be the world’s leading Fine Art NFT platform.

Artprice Images® provides unlimited access to the largest art market collection in the world, a library of 180 million images or engravings of works of art from 1700 to the present day, commented on by its historians.

Artmarket with its Artprice department constantly enriches its databases from 6,300 auction houses and continuously publishes Art Market trends for the most important agencies and 7,200 press titles worldwide. Artmarket.com makes the ads from its members available to its 5.4 million members (members log in / RS), which now constitutes the world’s leading standardized marketplace® for buying and selling works of art at a fixed price or at auction (auction) regulated of paragraphs 2 and 3 of Article L 321.3 of the Commercial Code).

Artmarket with its Artprice branch has the state mark “Innovative Company” awarded by Public Investment Bank (BPI), for the second time in November 2018.

The annual global art market report for 2021 released in March 2022 by Artprice by Artmarket:
https://fr.artprice.com/artprice-reports/le-march-de-lart-en-2021

Artprice Contemporary Art Market Report 2020/21 by Artmarket.com:
https://fr.artprice.com/artprice-reports/le-marche-de-lart-contemporain-2021

Summary of Artmarket’s press releases with the Artprice department: https://serveur.serveur.com/Press_Release/pressreleaseFR.htm

Follow all Art Market news in real time with Artmarket and its Artprice section on Facebook and Twitter:
https://fr-fr.facebook.com/artpricedotcom/ (5.8 million subscribers)
https://twitter.com/artmarketdotcom
https://twitter.com/artpricedotcom

Experience the alchemy and universe of Artmarket and its Artprice department: https://fr.artprice.com/video, whose headquarters are the famous Museum of Contemporary Art Abode of Chaos, according to The New York Times / La Demeure of Chaos:
https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (4.3 million subscribers)
L’Obs – Museum of the Future: https://youtu.be/29LXBPJrs-o
Contact : [email protected]

Leave a Comment