Value & Money

Fascinating to think about the art world and money. 

SO much money.

Such amazing art!

The current record  price for a painting is from an auction sale that occurred in 2006. The painting [pictured above] is No5 ,1948 by Jackson Pollock. The price was sold at US $ 140 million.


The 2nd highest price at auction is for William DeKooning's Woman III [pictured right] was sold in 2006 for US $ 148 million. This DeKooning was painted 1953.

The 3rd highest price was again from 2006, was for Gustav Klimt's Portrait of Adele Bloch-Bauer. [Picture left]. The painting was part of a group of five canvases recently returned to the heirs of Ferdinand Bloch-Bauer. The Nazis confiscated his paintings during the World War II, and after the war, the canvases were placed at the National Gallery of Austria in 1948.

What an amazing art auction year 2006 was.

What were you doing in 2006?

So much money, so much art. 

Did these paintings pass over into the world of cultural icons ie. The Mona Lisa ? Da Vinci's Last Supper?

In 2010 spring auctions, the Pablo Picasso painting, Nude, Green Leaves and Bust, sold at auction for $ US 106 million.[pictured left]
 Yes, only US $106 million. This painting was not on public view and will remain in another private collection.
One could only image what a record auction price this painting would have fetched back in 2006.

 
The most expensive sculpture at auction was Alberto Giacometti's L'Homme Qui Marche (Walking Man 1) set a record for the most expensive piece of sculpture was sold in February 2010. It sold for $US 98 million.[pictured below] This bronze is edition of 6 and was cast in 1961.


In most of the above sales, the pieces ended up in private collections. Some collectors loan work to museums and some do not.We may never see some artworks again. For our museum to remain strong , we must remember the importance of financially supporting our museums and the work they do.

Become a member, go to the exhibitions,contribute financially and most importantly, expose and educate yourself to more ART!

Now, in my opinion, the real value, for collectors, is in the art galleries who are surviving this economic downturn. We offer a wide variety of  quality artworks that are both accessible and  have value.

During these hard economic times the antique and Art world has repeatedly demonstrated exactly how  resilient they really are, making it evident in its potential for an area of investment. The type of investment in artwork is one of emotional investment, and perhaps economic investment.
If you had bought that piece of Art  before this economic downturn,  you would still have the artwork!

Remember to visit and support your local galleries.
Cheers