Contemporary art market only 5% below previous peak in May 2008.
The overall auction total for the three Post-war and Contemporary Evening sales at Christie’s, Sotheby’s and Phillips de Pury came to an impressive $633,795,000 against a pre-sale estimate of $528,550,000 - $740,070,000. This was the second highest Post-war and Contemporary Evening sales total ever, and came in 37% higher than May 2011 and 14% more than November 2011.
The average auction price for the three sales was $4,559,676, which is the highest average price achieved for a New York Contemporary Evening sale, and was 24% higher than the peak of the market in May 2008.
Content:
- Overall Auction Sales Volume: 2006 - 2012
- Volume by Auction House (Sotheby's, Christie's and Phillips de Pury): 2006 -2012
- Average Auction Price by auction house 2006 -2012
- Auction Indicator by auction house (measuring the price-to-estimate ratio)
- Top 10 lots
- Top 10 surprises
