Record year for auctions on the art market
Experts from the Christie's auction house in front of works from the Paul Allen collection on October 12, 2022 in Beverly Hills.
AFP - FREDERIC J. BROWN
Text by: RFI Follow
1 min
2022 will have been the year of auction records on the art market.
Three of the world's largest auction houses published excellent results, which might come as a surprise given the rather uncertain global situation.
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The art market does not know the crisis.
After two years of pandemic, the war in Ukraine and its global repercussions, inflation taking hold in Western countries, auction houses have reaped record profits.
It is true that a few exceptional sales have boosted the market, first that of Paul G. Allen, co-founder of Microsoft, who died in 2018. His incredible set of masterpieces were scattered in New York at Christie's at last November, probably the biggest sale of collectibles in the history of auctions.
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To read also: The sale of Paul Allen's art collection exceeds one billion dollars at auction
The 155 works tracing 500 years of art history have resulted in a shower of records, especially for artists like Paul Cézanne and Georges Seurat.
The estate of gallerists Thomas and Doris Ammann has also put treasures on the market.
A work by Andy Wahrol has soared to 195 million dollars.
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See also A portrait of Marilyn Monroe by Andy Warhol sold for 195 million dollars
These major prestigious sales attracted buyers and large fortunes wishing to best invest their cash.
But the masterpieces weren't the only ones that hit the peaks, the auction house Sotheby's, for example, sparked with a 1955 Mercedes which reached 135 million dollars.
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