THE contemporary
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The <strong>contemporary</strong> art market<br />
Painting<br />
61.2%<br />
Print<br />
1.2%<br />
Sculpture<br />
15.3%<br />
Photography<br />
4.6%<br />
Other<br />
0.3%<br />
Drawing<br />
17.4%<br />
Revenue from Contemporary Art Auctions by medium July 2014 – June 2015<br />
© ARTPRICE.COM<br />
24,200 paintings sold, generating over<br />
$1 billion, i.e. 61.2% of the global Contemporary<br />
art turnover. Paintings also generated 73% of the<br />
auction results above the million-dollar line.<br />
15,400 drawings sold. Once the poor<br />
cousin of painting, nowadays drawing has its<br />
own autonomous market, a market that was<br />
consecrated by the sale of Edvard Munch’s<br />
Scream in 2012 1 . Drawing accounts for 17.4% of<br />
Contemporary art turnover.<br />
64% of lots sold for less than $5,000,<br />
affordable works represent the main corpus<br />
of the Contemporary art market. Only 8% of<br />
Contemporary lots fetch over $50,000.<br />
205 results above the million-dollar line,<br />
that is just 0.37% of Contemporary lots sold in the<br />
world. This proportion was down 15% versus the<br />
previous 12-month period.<br />
14 results above the ten million-dollar<br />
line. There were 18 during the previous<br />
12-month period.<br />
2,785 new auction records, 6% of the<br />
Contemporary artists sold at auction this year<br />
improved their auction records.<br />
1) The Scream (1895) fetched $119.9 million at Sotheby’s New<br />
York on 2 May 2012.<br />
$37.1 million – the best result of the year,<br />
for Jean-Michel Basquiat’s The Field Next to the<br />
Other Road (1981) at Christie’s on 13 May 2015. This<br />
result did not beat his all-time record.<br />
Contemporary Art Market Structure by price range<br />
July 2014 – June 2015<br />
Auctionned lots percentage for a price inferior to<br />
100% $33,000,000<br />
95% $78,816<br />
90% $37,445<br />
80% $15,005<br />
70% $7,393<br />
60% $3,916<br />
50% $2,230<br />
40% $1,244<br />
30% $689<br />
20% $389<br />
10% $182<br />
© ARTPRICE.COM<br />
$145 million invested in Basquiat.<br />
In 2014/2015, the American painter Jean-Michel<br />
Basquiat alone accounted for 7% of global auction<br />
turnover from Contemporary art compared with<br />
more than 15% in the previous 12-month period.<br />
Basquiat, who created more than 800 paintings<br />
and more than 1,500 drawings, represents a<br />
major financial stake for the ultra-high end of the<br />
Contemporary art market.<br />
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