Artists ignite auctions
MARKET: PICASSO, LICHTENSTEIN, WARHOL MAKE BEST INVESTMENT
Creations that are prized possessions for art collectors.
Pablo Picasso is the artist whose works have attracted the most interest from art collectors since the beginning of this year, according to a recent report.
To make the best investments in art, look to Picasso, Lichtenstein, Warhol, Basquiat or KAWS, according to specialised magazine Artnet News.
While the Covid-19 pandemic has profoundly changed the art market in a few months, some artists continue to ignite the auctions. This is the case of the Spanish master Pablo Picasso, whose paintings, sketches, ceramics and other works of art have sold for more than $115.2 million (about R1.8 billion) since the beginning of the year.
With nearly 85% of Picasso’s artworks finding buyers, Christie’s will feature one of his portraits of Dora Maar in its upcoming 20th century sale. Christie’s experts estimate that this intimate painting, entitled “Woman in an Armchair”, could fetch close to $30 million.
Artist Roy Lichtenstein is also popular with art collectors, who have generated more than $77 million in the last six months by auctioning off his Pop artwork.
The creator of “White Brushstroke I” even dethroned the master of Pop Art, Andy Warhol, whose works have sold for $45.4 million since the beginning of the year. A colourful portrait of street artist Keith Haring, created by Warhol in 1983, could raise this figure at the next Sotheby’s auction, “Dear Keith”.
As for contemporary artists, Jean-Michel Basquiat continues to be prized by art collectors.
The American artist’s creations have generated nearly $53 million in the last six months, according to The Intelligence Report.
George Condo and KAWS come second and third in the ranking of the most “bankable” contemporary artists, even though their works have sold for $18.7 million and $16.5 million this year.