A ONE-MAN MARKET

"Warhol is now the god of contemporary art. He is indeed, it is said, the “American Picasso” or, if you prefer, the art market’s one-man Dow Jones. In 2010 his work sold for a total of $313m and accounted for 17% of all contemporary auction sales. This was a 229% increase on the previous year—nothing bounced out of recession quite like a Warhol. But perhaps the most significant figure is the rise in his average auction prices between 1985 and the end of 2010: 3,400%. The contemporary-art market as a whole rose by about half that, the Dow by about a fifth. 'Warhol is the backbone of any auction of post-war contemporary art,' says Christopher Gaillard, president of the art consultants Gurr Johns. 'He is the great moneymaker.'"  [Read Full Article]

Published by:  More Intelligent Life
On:  November/December 2011
Website:  http://moreintelligentlife.com

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