Artprice publishes its 2022 report on the ultra-contemporary art market

PARIS, October 6, 2022 /CNW/ — Published in time for the Frieze London and Paris+ art fairs, Artprice devotes for the first time a full annual report to the “Ultra-contemporary art market”. Available free of charge in French and English, this document analyzes the dazzling results of auction sales of Fine Art and NFT-art works created by artists under the age of 40. These works reflect the new concerns and societal challenges facing today’s younger generations.

Geographical breakdown of works auctioned by artists under 40 in the first half of 2022

According to thierry Ehrmann, President of Artmarket.com and Founder of Artprice, “Today, the works of the youngest stars of contemporary art can become even more expensive than the works of the great old masters in just a few years. Neither the rarity of a work nor the place of the artist in the History of Art seems to count as much today as the feeling of novelty and the passion it arouses.“.

www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022

In addition to our 2022 Ultra-Contemporary Art Market Report (available free online and in PDF) and to maintain our usual monitoring of the Contemporary Art market, Artprice is pleased to present here a summary of the key figures. of the world Contemporary Art market as well as as a whole, and for the ultra-contemporary segment in particular.

Contemporary art market: artists born after 1945

  • Worldwide auction turnover of $2.7 billion over 12 months (July 2021June 2022)

  • This segment did not generate $90 million in 2000

  • 2nd best year in segment history

  • The Contemporary Art market posted a slight contraction of -1.1%, due to China

  • China zero covid policy reduced auction turnover by -33%

  • The UNITED STATES (+20%) dominates Contemporary Art sales more than ever

  • New York alone generated 38% of the global total

  • The United Kingdom (+15%) and France (+9%) both show strong growth

  • Seoul shows the strongest growth in the world: +344%

  • 39,880 contemporary signatures at auction, compared to 34,602 last year

  • 5,300 contemporary artists had their first auctions

  • 5,100 contemporary artists set new auction records

  • Turnover has doubled in 10 years and multiplied by 31 in 20 years

  • Contemporary art generated 17.6% of total global auction revenue from fine art and art NFTs

Ultra-contemporary art market: artists under 40

  • Worldwide auction turnover of $420 million, incl. NFT-art (July 2021June 2022)

  • Growth of +28% compared to the period of the previous year

  • In 20 years, auction turnover has been multiplied by 26

  • Ultra-contemporary art represents 15.5% of the contemporary art market

  • Ultra-contemporary art represents 2.7% of the total art market (incl. art-NFTs)

  • 9,640 ultra-contemporary works sold over the last 12 months

  • The segment’s unsold rate is 32%, in line with the rest of the market

Soft Power and the ultra-contemporary art market in H1 2022

  • The UNITED STATES generated 35% of the world’s Ultra-Contemporary auction turnover

  • The UK and China were neck and neck, with 26% and 25%

  • Asia multiplies the market places, with Tokyo (7%) and Seoul (4%)

  • France weighs in with only 1.6% of the Ultra-Contemporary segment

  • Sotheby’s (30%), Christie’s (26%) and Phillips (23%)

  • SBI Art Auction ($9.3 million) is the leading Asian auction house in the segment

  • Bruun Rasmussen ($1.06 million) is the leading European auction house

Diversity of the ultra-contemporary art market in H1 2022

  • 2,670 artists under 40 at auction: 5 times more than 20 years ago

  • The average value of the top 5 results increased from $618,000 at $4.9 million

  • Women occupied 8 places in the Top 10 artists under 40

  • Matthew Wang (1984-2019) set a new record at $5.9 million

Top 10 artists under 40 by auction turnover in H1 2022

  1. Matthew WONG (1984-2019): $21,326,103

  2. Ayako ROKKAKU (1982-): $18,619,531

  3. Flora IOUHNOVITCH (1990-): $12,531,092

  4. Aboudia DIARRASSOUBA (1983-): $9,177.854

  5. Avery SINGER (1987-): $9,170.591

  6. Amoako BOAFO (1984-): $8,263,929

  7. Maria BERRIO (1982-): $7,556,877

  8. Anna WEYANT (1995-): $6,455 422

  9. Christina QUARLES (1985-): $5,598,272

  10. Loie HOLLOWELL (1983- ): $5,519,154

Ultra-contemporary NFTs in H1 2022

  • 50 NFTs recovered $3.2 million in H1 2022 against 30 lots for $107 million in H1 2021

  • Best result in H1 2022 for an art-NFT: $1.38 million: Living architecture: Casa Batlló (2022) by Refik Anadol at Christie’s in New York on May 10, 2022

Methodology

This report offers an overall analysis of the results of public auction sales of fine art – paintings, sculptures, drawings, photographs, prints, videos, installations, tapestries – and fine art NFTs, excluding antiques, anonymous cultural property and furniture. It covers aggregate auction results for artists under 40, but also includes aggregate data for the contemporary art market as a whole, including artists born after 1945. All prices listed in this report refers to the results of public auctions, buyer’s fees included. . All references to $ refer to US dollars.

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Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current information on the art market in banks of data containing more than 30 million indexes and auction results, covering more than 793,000 artists.

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Artprice publishes its 2022 Ultra-Contemporary Art Market Report:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022

The Artprice 2022 half-year report: the art market returns to strong growth in the West:
https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com

Artprice by Artmarket’s 2020 Global Art Market Report published in March 2022:
https://www.artprice.com/artprice-reports/the-art-market-in-2021

Artprice 2020/21 report on the contemporary art market by Artmarket.com:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021

Index of press releases published by Artmarket with its Artprice department:
server.server.com/Press_Release/pressreleaseFR.htm

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Fine Art auction turnover for artists under 40

Fine Art auction turnover for artists under 40

Art Market logo (PRNewsfoto/Artprice.com)

Art Market logo (PRNewsfoto/Artprice.com)

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