BLUE-CHIP ARTISTS AND THE MARKET IN 2016 WHILE THE 2016 BURSTING of the art market bubble resulted in major market corrections in most auction house categories, the greatest contraction was observed in the realm of postwar and contemporary art, where even relatively less-volatile blue-chip names saw a marked downturn in value. But as our analysis of a dozen superstars on the block shows, some outperformed the category while others marginally held their own or fell behind, especially when compared to other asset classes, which were on the rise last year. Topping our list of outperformers is Jean-Michel Basquiat, whose index value grew by 11.5 percent in 2016, from 322 to 359. The worst performers include such well-known names as Roy Lichtenstein, whose index value at the close of 2016 was down 27.8 percent, well below his 2013 value.
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