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11 July 2017

5 Key Takeaways from Auctions in June

What last month's auctions tell us about the current auction market

 
 

July 11, 2017

 
 
 
 
 

Wassily Kandinksy
Murnau – Landschaft mit Grünem Haus, 1909
Image courtesy of Sotheby's

 
 
 

Data collected from the artnet Price Database offers crucial insight into the current state of the art market. In this monthly series, with the help of the Price Database, we aim to fill you in on some of the most interesting facts, figures, and stories revealed by our data. In June, new records were set in China, as Modern Art continues to soar.

 
 
 
1
 
 

Following their record-breaking Basquiat sale in May, Sotheby's continued their streak on June 21 during the Impressionist and Modern Art Evening sale at their London location. Two Kandinsky paintings (Bild mit Weissen Linien and Murnau – Landschaft mit Grünem Haus) now hold the top spot for the most expensive Wassily Kandinsky paintings ever sold at auction.

 
 
2
 
 

Auction houses in Beijing offered the highest number of lots in June. With a 56% sell-through rate and sales totaling over 1.14 billion USD, they were also last month's top-selling city. Beijing-based China Guardian Auctions Co., Poly International Auction Co., and Beijing Council International Auction Co. all had the highest total sales in June.

 
 
3
 
 

The highest-selling artist last month was Huang Binhong. Days before Kandinsky broke auction records, China Guardian sold the nearly six-foot-long ink scroll, 黄山汤口 立轴 设色纸本 (Yellow mountain), for 345,000,000 CNY on June 19 during the Grand View: Chinese Painting Highlight – Modern auction. The sale also marks the most expensive artwork for this artist.

 
 
4
 
 

Pablo Picasso had the most lots offered in June. 493 works were offered internationally by Christie's London, Tajan, Galerie Kornfeld, and many others. The artist also had the highest sales by volume, boasting 77,351,198 USD in sold artworks last month.

 
 
5
 
 

There were 26,413 decorative art lots added to the database throughout June. The highest-selling lot was an antique Tibetan Buddha figure, sold during the Highlights of Buddhist Art-Zhantan Lin auction at China Guardian on June 20 for 58,650,000 CNY (8,589,505 USD).

 
 
 
 

The artnet Price Database offers the most comprehensive archive of art auction results in the world, comprising over 11 million records dating back to 1985. The database is an essential valuation tool used by appraisers, dealers, and collectors, allowing users to make informed decisions about buying or selling art.

Access the data behind the headlines with the Price Database today.

 
 
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