Art market: 2012 auction review

paulfrasercollectibles

2015-06-26 13:06:02

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Art market: 2012 auction review

Paul Fraser Collectibles reviews the biggest art auction sales of 2012

2012 was a stellar year for contemporary art. Both Sotheby's and Christie's hosted record contemporary sales in November, as the sector continued to grow from less than 4% of the world's turnover in 2002 to 11% today.

Yet the achievements of the old masters this year should not be forgotten. The sector has seen strong results in 2012, with the Mei Moses Fine Art Index reporting a 5.4% increase in value for the first half of the year.

But for most people, the year belonged to Munch

Top sale

The Petter Olsen version of The ScreamThe Scream - now the world's most valuable auctioned artwork

Edvard Munch's The Scream became the world's most valuable auctioned artwork, selling for $119.9m at Sotheby's in May.

See the Top 10 art sales in 2012.

New records in 2012

Mark Rothko's 1961 work Orange, Red, Yellow sold for $86.9m at Christie's in May, breaking the world record for a contemporary artwork at auction. A painting from Gerhard Richter's Abstraktes Bild series set a new 19.2m ($34.2m) record for a work by a living artist at auction, in October.

Raphael Head of an ApostleRaphael's Head of an Apostle set a new record for an old master drawing at auction

$3m is the price achieved in November by the most valuable Qing dynasty vase ever sold at auction.

EH Shepard's original artwork for the first drawing of Winnie-the-Pooh with Christopher Robin increased the artist's record by 15.7% in December.

Raphael's Head of an Apostle became the most valuable old master drawing ever sold at auction, when it achieved 29.7m ($47.8m) in December.

It was a breakout year for

Jean-Michel Basquiat. A series of strong sale prices culminated in a new record for the graffiti artist in November.

Jean-Michel Basquiat Auction Record Christie'sThe November sale was the third time the Basquiat record was broken in 2012

One you may have missed

The only Calvin and Hobbes comic strip to be offered for sale this century broke the world record for original newspaper comic strip art, selling for $203,000 in November.

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