The art market lack of large pieces to sell

The art market is addicted to the sales spectacular. This is the conclusion of the last semi-annual report from Artprice, which identifies all of the sales by p

The art market lack of large pieces to sell

The art market is addicted to the sales spectacular. This is the conclusion of the last semi-annual report from Artprice, which identifies all of the sales by public auction of works of art, the turnover of The sector has decreased by 17.4 % year on year in the first half, to € 7 billion. The number of units sold has slightly increased (+ 0.1%) but the exceptional pieces, valued tens of millions, have been sorely lacking.

Sixty-three pieces have sold more than 10 million over the first six months of the year, compared to 106 in the first half of 2018, which is 41 % less. And a single work, Stacks by Claude Monet has sold for more than $ 100 million (110.7 million dollars), compared with two last year - The Girl with the basket of flower of Pablo Picasso and the lying Nude by Amedeo Modigliani.

The turnover of the sector in the first half, however, would have been much better if a table ...

Updated Date: 05 August 2019, 00:00

Kathleen Lees

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