While Spain’s Pablo Picasso was the highest-grossing artist in 2021, with works sold for a total of $620 million (or also 7 percent of the market); the second best-selling artist was New York graffiti artist Basquiat, with $434 million, or an equivalent of 5 percent of the auction market in 2021.
The report refers to the artists on the list not only as recognized but also as “Blue Chips”, an English term used in the stock market to refer to stable investments, with a high level of liquidity, and that present little financial risk.
The American Andy Warhol ranks third in this percentage, of the artists sold in 2021, with a total collection of 325 million dollars, while behind him was the French impressionist Claude Monet, whose works reached 277 million dollars.
This record of the best sellers is completed with the German Gerhard Richter -the only living artist on the list- for 235 million and finally, the Dutchman Vincent Van Gogh, at 226 million.
Another fact that emerged from the report -devoted to analyzing the sales, styles, supports and genres that caused an impact in the auctions- is that collectors preferred figuration to abstraction in the last twelve months.
In this way, 25% of the total value of the auction market was concentrated in these six artists, a graph that is equivalent to 7% in sales for Picasso; 5% Basquiat; 4% Warhol and 3% for both Monet, Richter and Van Gogh.
Source From: Ambito
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