The British artist David Hockney is one of the most influential Contemporary artists of his generation. During his long career, Hockney (b. 1937) has experimented with painting, drawing, printmaking, water colors, photography, and many other media including fax machine, paper pulp, computer and iPad drawing. He is a significant contributor to the Pop Art movement of the 1960s and his distinctive style incorporates a broad range of sources from Baroque to Cubism and, most recently, computer graphics. Some of his iconic examples of his style are “Woldgate Woods, 24, 25, and 26 October 2006”,“A Bigger Splash 1967”,“Building, Pershing Square, Los Angeles” and “Beverly Hills Housewife,1966–67.”“Woldgate Woods, 24, 25, And 26 October 2006,”a 12 foot-by-6 foot painting, was sold for $11.7 million—a record price for the artist, at Sotheby’s in New York.Here is a performance analysis of David Hockney’s artworks in the auction market:1. David Hockney: Sales Trend in the Past 10 YearsHockney’s artworks had an exceptional year in 2016 with a total sale of $40.3 million for 250 lots. Overall, his performance graph has shown a trend of increasing prices and from 2015 onward, his total sales went up by 122 percent (from $18.1 million to $41.5 million). The following graph illustrates his year-on-year performance in total sales and volume.2. David Hockney: Average and Median Sale Price Trend in the Past 30 YearsIn the past five years, the average sales price of Hockney has remained in the range of $41,200 to $126,500. The median price kept fluctuating by between $5,000 and $10,000. The big difference in average year to year can be attributed to the high-value artworks sold each year.3. David Hockney: Highest Priced ArtworksHockney’s top 10 artworks in price of all-time are shown in the graph below.His highest ever was “Woldgate Woods, 24, 25, And 26 October 2006,”signed, titled and dated 2006 on the reverse of the lower right panel oil on canvas, in six part, that sold for $11.7 million at Contemporary art evening auction at Sotheby’s New York in November, 2016.The second and third highest lots were “Beverly Hills Housewife “at Christie’s and “Building, Pershing Square, Los Angeles” at Sotheby's. Each reached a price of $7.9 million, in the years 2009 and 2017 respectively.4. David Hockney: Price Band in Which His Works Have Sold in The Past 30 YearsMost (39 percent) of his artworks have sold for in the price range of $10,000 to $50,000. A significant proportion (more than 50 percent) of his sale comes for artworks priced at less than $10,000. Very small percentage of his works has sold for over $1 million (45 artworks accounting for 1.2 percent of his total volume).5. David Hockney: Where Have His Works Sold the Most in the Past 30 YearsMost of his works (about 60 percent) have sold at Christie’s and Sotheby’s. These two auction houses account for 87 percent of his total sales. Phillips and the other auction houses have together contributed only 13 percent of total sales. If we observe the spread of geographical location of sales of his works, the US leads with $138 million, followed by the UK at $113.5 million and the rest (France, Germany and Italy).6. David Hockney: Volume of Artworks on Offer vs. Bought-in RateThe volume of artworks featuring in auctions showed a steep increase in the year 2017, with a total 518 lots on offer. However, the bought-in rate was an all-time high in 2017 for the artist at 32.2 percent, with 165 lots remaining unsold.7. David Hockney: Bought-ins by Auction HousesChristie’s and Sotheby’s have managed to keep the bought-in rates of Hockney low in the year 2017 when compared with 2016. At the same time, they have increased the volumes on offer for the artist. An overall trend of volume of artworks on offer, and the bought-in rates at the top three auction houses is shown below.8. David Hockney: How Often Have His Works Exceeded the Auction High Estimates?In the past two years, between 62 percent and 64 percent of his works have exceeded the auction high estimates at Sotheby’s, whereas at Christie’s these figures were in the range of 39 percent to 54 percent. Given the trend, there is a higher chance of his works exceeding the high-estimates at Sotheby’s than at Christie’s. But in the auction world, which is full of unpredictable events, we never know if the next best of David Hockney could be from Christie’s.http://www.blouinartinfo.comFounder Louise Blouin
↧