Marc Zakharovich Chagall (1887-1985) was a celebrated Russian-Jewish modern artist who moved to France and became one of the great masters of the School of Paris.Chagall studied at the Imperial Society for the protection of Fine Arts in St. Petersburg from 1907 to 1910 and later enrolled at the Svanseva School to study with the set designer Leon Bakst who expanded his perspectives to include decorative art and other art forms. Associated with several major artistic styles, he created works in nearly every art form, including painting in oil, gouache and watercolor, stained glass, ceramics, tapestries, fine art prints and stage sets. Although, never entirely aligning himself with any particular art movement, Chagall amalgamated many of the rudiments of Cubism, Fauvism, Symbolism and Surrealism with elements of traditional Jewish culture and Russian life. Chagall’s distinction lies in his penchant for figurative and narrative art that he maintained despite blending the techniques of Fauvism and Cubism. In addition to the depictions of the Jewish folklore, Chagall’s paintings are inspired by themes from the Bible. He portrayed striking images using only two or three colors, which resulted in a vibrant atmosphere.Some of his notable works are: “I and the Village,” “White Crucifixion,” “La Mariee,” “Bella with White Collar.” Chagall’s stained-glass work with Biblical themes is considered another major contribution to art. His stained-glass art appeared at the Cathedral in Metz, France, the medical center in Jerusalem and such buildings as the United Nations in New York City.Christie’s is featuring 12 of his creations at its Prints and Multiples auction on September 20 in London. On September 26, Sotheby’s will also present three of his creations at its Prints and Multiples auction in London.Here is a performance analysis of Marc Chagall’s creations in the auction market:1. Sales Trend in the Past 20 YearsChagall ranks among the top 20 artists of all time, with sales of his artworks totaling $1.63 billion, according to BASI.Sales of Chagall’s works shows a growing trend, and in 2017, sales reached a peak at $126.9 million for 655 lots. In 2017, his sales were bolstered by Sotheby’s Impressionist & Modern Art Evening auction on November 14, when the event’s top lot “Les Amoureux,” brought in a record $28.5 million. The painting, a romantic love story, depicts the artist’s childhood sweetheart and muse Bella Rosenfeld and had been in the same collection since the year it was painted in 1928. At the same auction, “Le Grand Cirque” fetched $16 million.2. Volume of Artworks on Offer vs. Bought-in RateAmid a high demand for Chagall’s works, the lots on offer reached a peak of 1,401 lots in 2015; of that, 935 works were sold, resulting in total sales of $98 million, the second highest-grossing year for the artist and a bought-in rate of 33.3 percent. In 2016, the bought-in rate reached a high of 38.6 percent, with 486 lots left unsold. Among them were two high-estimated works at Sotheby’s: “La Fete Autour De La Mariee,” which was estimated at $1.8 million to $2.5 million) and “Repos dans le ciel multicolore,” which was estimated at $1.3 million to $2 million). In 2017, the artist’s highest-grossing year, the bought-in rate still remained high at nearly 37 percent. 3. Bought-in by Auction HousesThe graphic below represents the artist’s lots and bought-in rates at the top two auction houses. Overall, the lots offered at other auction houses were high as compared with Christie’s and Sotheby’s. In the past two years, Christie’s has had more of the artist’s works on offer than Sotheby’s, but Christie’s bought-in rates were higher at 32 percent in 2016 and 23 percent in 2017, compared with Sotheby’s 16 percent and 20 percent for the corresponding years.4. Average and Median Sale Price Trend in the Past 20 Years In 2017, Chagall’s average price reached peak of $193,730, which can be attributed to the sale of “Les Amoureux” at Sotheby’s New York. While 2017 was his best year, his median price was low at $5,142, because in that year more than 63 percent of his artworks sold below $10, 000. Since 2014, the median prices of the artist have remained low at $4,800 to $5,900, with more than 66 percent of his works not exceeding $10,000 in the same period year.5. Highest-Priced Artworks Chagall’s top 10 artworks, in terms of selling price, were sold at Sotheby’s and Christie’s.His top two lots sold at Sotheby’s Impressionist and Modern Art Evening sale in New York on November 14, 2017.“Les Amoureux,” a 1928 oil on canvas, sold for $28.5 million, a high for the artist and more than the top estimate of $18 million. The painting depicts the artist in a loving embrace with his first wife, Bella Rosenfeld. The second highest sale was “Le Grand Cirque,” a 1956 oil and gouache work on canvas, which realized $16 million. On May 15, 2017, his third-highest sale occurred at Christie’s New York, when “Les Trois Cierges, 1939,”fetched $14.6 million.6. Price Band in Which His Works Have Sold in the Past 20 YearsMore than 53 percent of Chagall’s artworks were sold for below $10,000, followed by 32.6 percent that sold in the range of $10,000 to $100,000, and a significant 2.2 percent, or 234 lots that sold in the $1 million to $10 million range. Still, a significant number of lots, seven, sold over $10 million in the past two decades.7. Where Have His Works Sold the Most in the Past 20 YearsMost of his highest-priced works have sold at Sotheby’s, accounting for 43.3 percent of total sales with 1,856 lots, followed by Christie’s, which accounted for 39.5 percent of sales on 2,351 lots; other auction houses have together contributed 17.2 percent of total sales with higher sale volume of 6,448 lots.Based on the geographical location of sales of his works, the United States leads with $610.4 million, followed by the United Kingdom at $356.5 million and France, Germany and China accountingfor rest.8. Top Selling Media in the Past 20 YearsChagall’s top three media are highlighted in the graphic below. His lithographs sold most in the past 20 years, accounting for $57.8 million for 4,292 lots. But it was his oil works that achieved best return, with sales totaling $817 million in the past 20 years. http://www.blouinartinfo.comFounder Louise Blouin
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