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Market analysis
Qualitative Market Analysis: Insights from the Rago Auctions Post-War & Contemporary Art Sale
Qualitative Market Analysis: Insights from the Rago Auctions Post-War & Contemporary Art Sale
Benjamin Matza
September 20, 2024
On September 24, 2024, Rago Auctions held a notable sale in the Post-War and Contemporary Art category, featuring a diverse array of works. This auction not only highlighted the popularity of certain artists but also revealed potential undervalued artists worth monitoring.
On September 24, 2024, Rago Auctions held a notable sale in the Post-War and Contemporary Art category, featuring a diverse array of works. This auction not only highlighted the popularity of certain artists but also revealed potential undervalued artists worth monitoring.
KEY AUCTION HIGHLIGHTS
KEY AUCTION HIGHLIGHTS
The auction included 52 lots, showcasing a strong bidding environment. Notable highlights include:
The auction included 52 lots, showcasing a strong bidding environment. Notable highlights include:
Top Lot: Jack Bush’s Spin-Off Yellow (1979) achieved $151,200, exceeding its estimate of $100,000–150,000. This sale underscores Bush's rising stature in the market, particularly among collectors of abstract expressionism.
Top Lot: Jack Bush’s Spin-Off Yellow (1979) achieved $151,200, exceeding its estimate of $100,000–150,000. This sale underscores Bush's rising stature in the market, particularly among collectors of abstract expressionism.
©Artsy
Scott Kahn’s Cedar Lake sold for $252,000, well above its estimate of $200,000–300,000. Kahn’s unique blend of serene landscapes with contemporary themes continues to captivate buyers, making him a significant figure to watch.
Scott Kahn’s Cedar Lake sold for $252,000, well above its estimate of $200,000–300,000. Kahn’s unique blend of serene landscapes with contemporary themes continues to captivate buyers, making him a significant figure to watch.
©Artsy
Bernar Venet’s Two Indeterminate Lines fetched $81,900, surpassing its estimate of $70,000–100,000. This result reflects a growing interest in Venet’s conceptual works and his exploration of line and form.
Bernar Venet’s Two Indeterminate Lines fetched $81,900, surpassing its estimate of $70,000–100,000. This result reflects a growing interest in Venet’s conceptual works and his exploration of line and form.
©Rago Auctions
Carroll Dunham’s Group D #7 reached $138,600, exceeding its estimate of $100,000–200,000. Dunham’s blend of figurative and abstract elements resonates strongly with contemporary collectors.
Carroll Dunham’s Group D #7 reached $138,600, exceeding its estimate of $100,000–200,000. Dunham’s blend of figurative and abstract elements resonates strongly with contemporary collectors.
©Artsy
Damien Hirst’s Beautiful the Eye of the Beholder Let the Story Unfold Painting sold for $94,500, against an estimate of $100,000–150,000. While this fell slightly below the high estimate, Hirst remains a pivotal figure in contemporary art, and collectors should continue to monitor his evolving market presence.
Damien Hirst’s Beautiful the Eye of the Beholder Let the Story Unfold Painting sold for $94,500, against an estimate of $100,000–150,000. While this fell slightly below the high estimate, Hirst remains a pivotal figure in contemporary art, and collectors should continue to monitor his evolving market presence.
©Artsy
ARTISTS WITH SIGNIFICANT BIDDING INTEREST
ARTISTS WITH SIGNIFICANT BIDDING INTEREST
Jack Bush: With Spin-Off Yellow achieving a record sale, Bush’s work is on the rise. Collectors should prioritize his pieces, as they are likely to appreciate in value, especially given the growing interest in abstract expressionism.
Scott Kahn: The impressive sale of Cedar Lake indicates Kahn's burgeoning market presence. His ability to evoke emotion through serene landscapes suggests a bright future, making his works desirable for both new and seasoned collectors.
Bernar Venet: The successful sale of Two Indeterminate Lines reaffirms Venet’s status among collectors interested in conceptual art. His exploration of abstract forms and lines provides a unique investment opportunity, as demand for such works continues to grow.
Carroll Dunham: With Group D #7 performing strongly, Dunham’s distinctive style—a mix of abstraction and figuration—positions him well in the market. His pieces could serve as valuable investments, especially given their increasing recognition.
Jack Bush: With Spin-Off Yellow achieving a record sale, Bush’s work is on the rise. Collectors should prioritize his pieces, as they are likely to appreciate in value, especially given the growing interest in abstract expressionism.
Scott Kahn: The impressive sale of Cedar Lake indicates Kahn's burgeoning market presence. His ability to evoke emotion through serene landscapes suggests a bright future, making his works desirable for both new and seasoned collectors.
Bernar Venet: The successful sale of Two Indeterminate Lines reaffirms Venet’s status among collectors interested in conceptual art. His exploration of abstract forms and lines provides a unique investment opportunity, as demand for such works continues to grow.
Carroll Dunham: With Group D #7 performing strongly, Dunham’s distinctive style—a mix of abstraction and figuration—positions him well in the market. His pieces could serve as valuable investments, especially given their increasing recognition.
UNDERVALUED ARTISTS TO CONSIDER
UNDERVALUED ARTISTS TO CONSIDER
Richard Pettibone: Pettibone did not meet high estimates.Ingres, The Princess de Broglie, 1853, Two Details, Dress and Left Shoulder sold for $9,450, below its estimate of $10,000–15,000. Despite this, Pettibone’s unique reinterpretations of classical works make him a noteworthy investment, particularly for those interested in art history.
Richard Pettibone: Pettibone did not meet high estimates.Ingres, The Princess de Broglie, 1853, Two Details, Dress and Left Shoulder sold for $9,450, below its estimate of $10,000–15,000. Despite this, Pettibone’s unique reinterpretations of classical works make him a noteworthy investment, particularly for those interested in art history.
©Rago Auctions
Man Ray: His piece Femme roue sold for $4,788, falling short of the estimate of $5,000–10,000. Given Ray's crucial contributions to surrealism and the art world, this may represent a buying opportunity for collectors looking to acquire important historical works at a lower price point.
Man Ray: His piece Femme roue sold for $4,788, falling short of the estimate of $5,000–10,000. Given Ray's crucial contributions to surrealism and the art world, this may represent a buying opportunity for collectors looking to acquire important historical works at a lower price point.
©Artsy
Joan Semmel: Semmel’s Study on White achieved $21,420, above its estimate of $7,000–9,000, showcasing her growing recognition. However, her other works, such as Untitled (Self-Portrait), which did not sell, indicate a potential undervaluation. Collectors should keep a close eye on her market as it evolves.
Joan Semmel: Semmel’s Study on White achieved $21,420, above its estimate of $7,000–9,000, showcasing her growing recognition. However, her other works, such as Untitled (Self-Portrait), which did not sell, indicate a potential undervaluation. Collectors should keep a close eye on her market as it evolves.
©Artist and Xavier Hufkens, Brussels, Source: AnOther Magazine
CONCLUSION
CONCLUSION
The Rago Auctions’ Post-War & Contemporary Art sale provides insights into which artists are currently thriving and which may offer undervalued opportunities.
Invest: Keep an eye on Jack Bush, Joan Semmel, and Scott Kahn for potential appreciation in their works, as their market presence is clearly on the rise.
Explore Undervalued Options: Richard Pettibone and Man Ray represent promising opportunities for collectors seeking historically important art at more accessible prices.
As art dealers, we are committed to helping clients navigate these evolving opportunities in the market. By understanding the dynamics of recent auctions, collectors can make informed decisions that align with their investment goals.
The Rago Auctions’ Post-War & Contemporary Art sale provides insights into which artists are currently thriving and which may offer undervalued opportunities.
Invest: Keep an eye on Jack Bush, Joan Semmel, and Scott Kahn for potential appreciation in their works, as their market presence is clearly on the rise.
Explore Undervalued Options: Richard Pettibone and Man Ray represent promising opportunities for collectors seeking historically important art at more accessible prices.
As art dealers, we are committed to helping clients navigate these evolving opportunities in the market. By understanding the dynamics of recent auctions, collectors can make informed decisions that align with their investment goals.