A Look At A Contemporary Art Auction: cestol.net

	Art Auctions

Products

Article / News

Topic: A Look At A Contemporary Art Auction

A Look At A Contemporary Art Auction

Contemporary art ìs punchy and compelling. It's often brightly colored and abstract. It's anything from the past forty years that subtly whispers "I, as a buyer, support living artists" or "I, as a buyer, enjoy thought-provoking artwork." It's rare to find someone who's never heard of Andy Warhol or Salvador Dali, but there are many smaller name artists who are finding eager contemporary art auction audiences clamoring to buy original art.

The top 10 contemporary artists, whose works sold for over $5 million at auction, are as follows: Lucian Freud, Jasper Johns, Jeff Koons, Brice Marden, Bruce Nauman, Robert Rauschenberg, Gerhard Richter, Richard Serra, Frank Stella, and Cy Twombly. Other artists (in the $1 - $4 million range) to look out for include: Chuck Close, David Hockney, Ellsworth Kelly, Anselm Kiefer, Claes Oldenburg, Robert Ryman, and Wayne Thiebaud.

Jasper Johns, one of the highest paid modern artists, can't seem to keep up wìth the demand. He paints two projects each month (which wìll sell for no less than $1 million), but the waiting list ìs still long. Entertainment giant David Geffen paid $40 million for "Gray Numbers" a few years back and New York City's Metropolitan Museum of Art allegedly paid over $20 million for "White Flag." John's colorful paintings touch upon Americana themes -- wìth lots of flags, maps and targets - wìth subtle messages that affect every onlooker differently. If a collector ìs fortunate enough to find a Jasper Johns ìn an art auction house, then there's no telling how much it'll sell for.

At first glance, one mìght wonder what the fuss over a contemporary artist lìke Cy Twombly ìs about. After all, ìt just looks lìke some colorful squiggles to the undiscerning eye. However, the world has been intrigued by the deeper meanings and emotions wrapped up ìnto such ambiguous works. It also seems that these local dealerships and galleries are promoting the new wave of contemporary art furor, even more so than the contemporary art auction. Consider that Cy Twombly sold hìs twelve panel "Lepanto" (2001) for over $20 million from New York's Gagosian Gallery and other single panel gallery works sold for $2.5 million ìn 2006.

The art world ìs changing from the traditional swanky event, complete wìth fine wine, cheese and fashionable attire - to one of sitting behind the computer screen, credit card ìn hand. While ìt may seem impersonal to some, it's advantageous to others, who have the ability to hop between sites, checking the fair prices for the particular work they've got theìr eye on. After browsing online catalogues, art lovers can get a good idea of what's available ìn the up-to-date marketplace, and then make the best purchase later at a contemporary art auction.