The Art Market 2023 – 2024: A review

Posted on December 5, 2024December 5, 2024 by Ben Hanly

2023-2024 has been a deeply complex year all round; the world has had to navigate the continuing conflict in Ukraine, the ongoing volatility in the global financial markets and high inflation and interest rates, together with the increasingly tense and brutal situation in the Middle East. This combination of factors does not breed economic confidence and positivity, but rather caution and concern. This is also true of the art market, which is inextricably linked to the economic markets. 2023-2024 has been a year of contraction and reassessment.

The escalating inflation and other economic concerns in different regions have directly impacted available discretionary income and subsequent spending for many collectors. Even for high-net-worth (HNW) collectors, who may have been less impacted by cost-of-living hikes, concerns over wealth creation and its stability affected their willingness to make discretionary purchases and sales, while volatile social and political issues weighed on sentiment and distracted their focus from their collections.

The two years following the Covid pandemic, saw the art market recover and the general outlook become more positive. Sales increased across all sectors, which saw rapid and expansive growth, with the market reaching new heights – culminating in 2022 with global art sales of $67.8 billion.

In 2023 and 2024, the trickle-down effect from the global economy hit the art market, which saw a noticeable but not drastic 4% downturn, resulting in $64.4 billion global sales across all sectors and regions. Considering the significant external factors at play, this 4% fall has been surprisingly modest. The auction houses saw a greater fall than dealers, losing 7% of their sales versus 3% for dealers.

Interestingly, it has been the lower to mid end of the art market that has fared better than the top of the market. This is unusual as normally in times of economic and political upheaval, the blue chip dominated top end of the market tends to be recession proof – quality is always demand and carries a premium. In this case, however, the relatively heavier downturn at the top of the market was reflective of a lack of supply to the market rather than a lack of money or interest. Major collectors have been reluctant to let major works from their collections go to auction when there is an underlying concern about the economic future. Much of this caution is misplaced, the appetite and money to buy great things still exists, as is evidenced by a slew of strong prices achieved by the major works which did make it to the market – most notably the $139.4m for Picasso’s 1932, Femme à la montre, or the £85.3m for Klimt’s Lady with a Fan. The lower to mid-level of the market had no such issues, with a healthy supply fuelling an increase in overall global sales transactions of 39.4 million (albeit at a lower level).

One of the main reasons for the relatively modest aggregate downturn in the art market has been differences in the performance of sales in some of the major global art markets – some have fallen but some have risen to counter this.

Historically, the three main players in the art market geographically have been the US, Britain and Asia represented by China in its entirety, including Hong Kong and Singapore. Within this group, the US is, and has always been, the senior partner. The US has the largest concentration of art buying wealth anywhere in the world, it is where the largest financial art transactions occur, and the where the most prominent auctions take place. In spite of this though, in 2023-2024 the US art market dropped by a significant 10% to $27.2 billion, which represents 42% of the global art market. This was predominantly due to the shrinking of the top end of the market.

In contrast, for the first time ever, China out stripped the UK to reach second place, up 19%, with sales of $12.2 billion. The rapid growth in the Chinese market balanced out the drop in the US and UK markets, resulting in the small global aggregate drop of 4%. China’s sudden growth was a result of their delayed bounce back from the COVID crisis – whereas the West came out of lockdown in 2021 and experienced a surge in economic growth; China on the other hand experienced harder and longer lock downs, only coming out of COVID recession in 2022-2023. Their economic boom was therefore felt in 2023, with their population eager to enter the market again with enthusiasm. Also, many auctions which had been cancelled due to COVID were rescheduled for 2023 and early 2024, resulting in a significant spike in sales.

Historically, whilst Paris has been Europe’s centre of creativity, London has been the great centre of European art trading. In 2023, however, the UK fell to third place globally, down 8% with $10.9 billion. Much of that was due to China’s surging market, but the effects of Brexit were also a significant contributing factor. The increased difficulty and cost of trading in the UK, due to increased bureaucracy and import duties, have had a very real effect on the art market. Add to this, the indefinable impression felt internationally that London has lost its way somewhat and is not open to business as it used to be, has contributed to the UK’s art market decline in sales.

The growth of online digital sales has continued in tandem to traditional sales. The COVID crisis was pivotal in the push towards online sales, as it was a essential to the survival of the art market at the time. In 2023-2024, online sales rose 7% on 2022 figures to $11.8 billion, representing 18% of all art sales. This figure will do doubt continue to rise as collectors become more tech savvy and comfortable, however, the value of individual purchases remains relatively low – under $50,000. It seems that at the higher level of transactions, collectors still want to touch noses with the artwork before committing!

Whist the art market did contract by 4% in 2023-2024 due to various global economic and geopolitical factors, the market has stayed remarkably strong, nonetheless. Money has not disappeared, nor that the collector base, what has changed is that market is now more a buyer’s market rather than a seller’s market – the inflated hot air has left the room. That said, great things still made very strong prices when they came to the market as evidenced by the following master works which for sale last year.

If you would like an art valuation, get in touch by calling us on 01883 722736 or email us at [email protected].

A Tribute to Frank Auerbach (1931–2024)

Posted on November 18, 2024November 27, 2024 by Jonathan Horwich

Frank Auerbach, one of the most important and unique voices in contemporary art, passed away on 11^th November, leaving a profound legacy in the world of painting. His death marks the end of an era, but his work—raw, visceral, and deeply human—will endure for generations to come. Auerbach’s paintings, which often appeared as works of fierce immediacy, were also the products of an unrelenting pursuit of truth and an intimate understanding of his subjects.

Born in 1931 in Berlin, Auerbach’s life and art were shaped by history, by the upheavals of World War II, and by the quiet intensity of urban London. His parents were, jewish and were part of a thriving and integrated community fully assimilated into German society. His father, Max, who had served in the German army, was a lawyer, and his mother, Charlotte, had studied art. In 1939 his parents, concerned by the escalating, violent anti-semitism of Nazi Germany, dispatched Frank then aged 8 to England via the Kinder transport, he never saw them again. Sporadic letters from them conveyed via the Red Cross, ceased in 1943. Only much later did he learn that they had both been taken to Auschwitz early in March 1943 and both has died there that year. Talking about this time in his life on BBC radio’s ‘This Cultural life’ first broadcast on January 27^th this year, he says “I am in total denial, and it has worked very well for me. To be quite honest I came to England, and it truly was a happy time. There’s just never been a point in my life when I wished I had parents.” Indeed, it did all work out well for him. He had the good fortune to find himself with some of the other Jewish Refugees at Bunce Court, a Quaker school in Kent which he loved and where he excelled in Art and Drama. In 1947 he was naturalised as a British Citizen and moved to London. He decided at the age of 16 to become an artist and attended art classes at Borough Polytechnic, now London South Bank University where the famous British painter David Bomberg taught him. Following this he was accepted at St. Martin’s School of Art.

It is tempting, to see Auerbach’s need for routine, his desire to keep the same sitters in the same place year after year, as a reaction to his childhood. Equally he lived within a very tight local orbit, and his subject matter comes almost entirely from his immediate environs of North London and his studio with its unfailingly regular and intensely loyal sitters.

In the early 90’s I had the pleasure of meeting one of these sitters, the art collector and academic Ruth Bromberg (1921-2010). Ruth sat regularly for Frank for two hours every Thursday for almost seventeen years. I asked myself why ? I found the answer in a letter Ruth wrote to Frank in 2008 published by the British Museum. Due to failing health Ruth reluctantly relinquished her duties as sitter, she wrote sadly to Frank as follows.’ I know how important your sitters are to you, and I would not wish to be the cause of disruption in your work schedule…I cherish my hours spent in the studio, my home away from home…Thursday afternoons will never be the same again and I feel the loss.’

Frank’s brushwork, a relentless engagement with the surface of the canvas, was a testament to his tireless search for meaning beneath the layers of the everyday world. His portraits, are at once fiercely abstract and deeply personal, capturing the essence of the individual through the weight of paint and the tension of form.

Auerbach’s paintings are known for their emotional depth and complexity, born of years of painstaking observation and reworking. He would often spend months, even years, refining a single portrait or cityscape, digging deeper each time into the texture and emotion beneath the visible surface. His relentless approach to painting was not only about achieving perfection but about honing a profound connection between artist and subject. Each stroke on the canvas, each layering of thick impasto, spoke to Auerbach’s belief in the struggle to capture truth and memory—never an easy task, but one that demanded everything of him.

His works were never concerned with trends or the fashion of the moment; instead, Auerbach’s paintings radiated an honesty and integrity that transcended time. His commitment to figuration, at a time when abstraction was dominant, and his resistance to simplification, made him a singular figure in British art. He was a master of his craft, but never complacent; always evolving, always questioning. He was a painter’s painter and his opinion really mattered to his fellow artists, particularly to his close friend Lucian Freud, who would not consider a work finished until Frank had seen and approved it.

Throughout his life, Auerbach remained a fiercely private individual, rarely seeking the limelight. Yet, his work spoke loudly, its emotional power reverberating in galleries and collections around the world. His portraits were not just depictions of faces—they were psychological explorations, capturing the depth of the inner life of his subjects. His cityscapes, on the other hand, were a meditation on the persistence of memory, as well as the transformation of place over time.

Auerbach’s influence, though perhaps understated in some circles, was profound. His legacy is not merely in the works themselves but in the way he taught us to see: to engage with the world with intensity, with a fierce awareness of its complexities and contradictions, and to never settle for the surface.

In his passing, the world has lost a giant. But the impact of Frank Auerbach’s work will continue to inspire and challenge us for many years to come. His paintings will live on, continuing to confront us with the same questions he asked of himself throughout his career: ‘What does it mean to capture a moment, a face, a city? How can we, as artists and as people, approach the world with the depth and urgency it deserves?’

Rest in peace, Frank Auerbach. Your vision, your dedication to your art will never be forgotten.

Jonathan Horwich, 14/11/2024

To find out about our art valuation service call us on 01883 722736 or email [email protected]

The Art Market 2023

Posted on January 3, 2024August 9, 2024 by Ben Hanly

2023 in the Art Market has been one of readjustment and realignment, but thankfully not collapse – a market correction rather than the much talked about free-fall of the market.

2022 ended on a fever pitch high, with a slew of blockbuster auctions and record-breaking auctions – the Macklowe Collection brought in $922m at Sotheby’s, the Anne Bass Collection achieved $383m at Christie’s, and the Paul Allen Collection achieving just over $1.6b also at Christie’s – taking the honour of being the first sale to top the billion-dollar mark.

Yet even as these records were being made, savvy pundits predicted a gloomier future for 2023 which turned out to be true.

Surprisingly, it was the top end of the market, with its superior quality and strong provenance, that failed to deliver the goods in 2023. It was badly hit in comparison to 2022, generating a little more than half the sales value compared to the previous years. In 2023, the most expensive artworks at auction paled in comparison to last year. The top 100 lots at auction this year totalled $2.4 billion, compared to $4.1 billion in 2022.

Why is this? Experts cite higher interest rates, continued inflations, and the ongoing turbulence in the financial markets as reason for the dip – but economic jitters aren’t the only factor at play. The continuing war in Ukraine continues to negatively effect the global economy, as no doubt, the current Israeli/Palestinian war will too. Added to this, the post-pandemic exuberance of spending that fuelled the market in late 2021 and 2022 has certainly levelled off.

Across every category in the market, sales contracted in 2023 – but some were hit harder than others.

All of this has had a negative effect on the market – spooking all but the motivated seller from consigning their treasures to an increasingly unpredictable and volatile market. Just like the property market, why would you sell in a falling market? As a result, the number of works coming to auction hit a three-year low in the year’s first five months, and the contraction is most extreme on the high end. The May marquee auctions of Modern and Contemporary art in New York were noticeably underwhelming. The three main auction houses grossed an aggregate $1.4bn (with fees), significantly lower than the $2.5bn achieved the previous May, according to data provided by Pi-eX (the Londonbased art auction analysis firm).

Similarly, the up until now extra-hot, speculative/flip led market for young ultra contemporary artists also cooled down dramatically, with demand being far more measured than in 2022. In May 2022 in New York, Sotheby’s The Now sale of 23 recent works by coveted, hard-to-source names had been a bidding frenzy that achieved $72.9m. In stark contrast, just over a year later in June this year, Sotheby’s 14-lot London version of The Now format took £8.7m ($11m). This market had been characterised by heavy speculation and flipping by collectors keen to turn a quick (and often significant) profit on here to untested newcomers to the secondary market. However, market jitters have calmed this market down noticeably – with less activity from ‘flippers’ producing less demand and lower prices.

The biggest decline was in the Impressionist and Modern sector, whose sales plummeted by almost 30 percent year over year. The Postwar and Contemporary category had a slightly smaller dip of 23 percent. Ultra- Contemporary art, once the fastestgrowing category, took a tumble as the froth surrounding the market for young artists began to dissolve. It shrunk by 26 percent year over year. The most stable category turned out to be Old Masters, whose revenue declined a comparatively modest 6 percent. It remains one of the smallest markets by dollar value, second only to ultracontemporary (which covers around two dozen years of artistic production, while Masters embraces nearly six centuries).

Each of the big 3 auction houses saw their sales figures contract in 2023. Christie’s narrowly beat Sotheby’s in the race for the top spot, generating $8.9 million more in fine-art sales by mid 2023. Both houses saw revenue decline in the first five months of the year compared with the equivalent period in 2022. Christie’s was down 23 percent while Sotheby’s was down 20 percent. Hardest hit was Phillips, which reported $255 million in art sales, a 29 percent dip year over year, after reaching a record high in 2022.

In terms of the geographic split of the art market, the top three players stayed the same. The US reconfirmed it preeminence in this regard, albeit with sales down by 25 percent from the equivalent period in 2021, 2020, and 2019. China similarly reconfirmed its place as the second largest market, but in contrast to the US, its total sales spiked by more than 110 percent during the same period. The increase illustrates the continuing strength of the Chinese collector market, but it also reflects a statistical anomaly whereby several Chinese auction houses, including Poly International and Yongle Auctions, postponed their 2022 autumn sales to early 2023 in order to comply with government lockdowns, boosting the country’s spring results.

The UK market experienced a decline in sales of 27 percent but still held third place in the global art market. The impact of Brexit and the increase in overall in logistical and importation costs still continue to effect the profitability of Britian’s historic art market.

During the pandemic and the associated lockdowns, online and digital sales increased out of necessity and market survival and drove global art sales for this period. Now that in-person auctions have fully returned, online fineart sales are hitting a plateau—but they remain far above pre-pandemic levels. A total of $155.8 million worth of fine art was sold in online-only sales at Sotheby’s, Christie’s, Phillips, Bonhams, and Artnet Auctions in the first five months of the year. That’s down 5 percent from the equivalent period in 2022 and down 64 percent from 2021, when many high-profile sales had not yet returned to being held in-person. The 2023 total remains more than 300 percent higher than 2019, when online sales generated just $35.5 million in the year’s first five months. What has changed is the comfort level of collectors to purchase via online routes – the average price in 2023 for an online purchase has dropped to $17,794 which is lower than since 2019.

In conclusion, 2023 – whilst certainly not a bullish year, it has still proved to be a strong market with no collapse foreseen in the near future. Bearing in mind the overall global uncertainties, and the fact that purchasing art is not a survival purchase, this is no mean feat!

Victorian Christmas Paintings: A Glimpse Into Festive Traditions

Posted on November 28, 2023December 19, 2024 by Jonathan Horwich

Much of what we associate with Christmas today, with the exception of After Eights and Christmas jumpers, stems almost entirely from the Victorian era (1837-1901). Prince Albert introduced all of his German family’s Christmas traditions to the Royal household following his marriage to Queen Victoria in 1840. Christmas trees, cards, turkeys with all the trimmings and Christmas stockings were all enthusiastically taken up by Queen Victoria and as the key influencer of her day, her loyal subjects followed and fully embraced all the young Queen’s new and exciting festive family traditions.

Charles Dickens wrote about Christmas and Victorian painters in Europe and America alike brought these Christmas scenes and people to life. Santa Claus was brought to life by the American illustrator Thomas Nast who also invented the Christmas Card, another stroke of Victorian genius that brought a little bit of festive splendour through letterboxes around the world during the festive season.

Here are some common themes and elements found in Victorian Christmas paintings:

1. Family Gatherings: Victorian Christmas paintings frequently feature scenes of families coming together to celebrate the holiday. These gatherings often take place in beautifully decorated homes, with family members enjoying each other’s company.

2. Decorations: The Victorians were known for their elaborate Christmas decorations. Paintings from this era often showcase festively decorated Christmas trees adorned with candles, ornaments, and tinsel. Mistletoe and holly were also commonly used to decorate homes.

3. Gifts and Presents: Gift-giving was an important aspect of Victorian Christmas celebrations. Paintings might depict scenes of children eagerly unwrapping their presents, or the presentation of gifts to family members.

4. Caroling: Christmas carolers, often dressed in traditional Victorian clothing, are a common subject in these paintings. Carolers would go from house to house, singing festive songs to spread cheer.

5. Snowy Scenes: Many Victorian Christmas paintings depict snowy landscapes and scenes, introducing the idea of a “white Christmas.”

6. Feasting: A Victorian Christmas feast was an important tradition, and you can find paintings that feature festive tables laden with roast meats, puddings, and other holiday treats.

7. The Yule Log: The Yule log was a symbol of warmth and light during the Christmas season. Some paintings show families gathered around a fireplace with a burning Yule log.

8. Christmas Cards: Victorian Christmas cards, which gained popularity during this era, often featured sentimental and picturesque scenes. Paintings might show people exchanging or displaying these cards.

9. Acts of Charity: The Victorians placed a strong emphasis on acts of charity and goodwill during the Christmas season. Some paintings depict scenes of people helping the less fortunate, emphasising the importance of giving during the holiday.

10. Father Christmas: The modern image of Santa Claus, known as Father Christmas in the UK, started to take shape during the Victorian era. Paintings might feature the jolly figure of Father Christmas, sometimes dressed in green or other colours, distributing gifts to children.

Prominent artists of the Victorian era, such as John Callcott Horsley (British, 1817-1903) Thomas Nast, (American1840-1902) and Sir John Gilbert (British1817-1897), created Christmas-themed works that have become iconic representations of the holiday. These paintings continue to be cherished for their ability to capture the nostalgia and spirit of Victorian Christmas celebrations.

Andy Warhol’s Birthday

Posted on August 8, 2023August 9, 2024 by Jonathan Horwich

Andy Warhol, born Andrew Warhola, was born on August 6, 1928, in Pittsburgh, Pennsylvania, to Slovakian immigrant parents. Andy was the fourth of five children, his father worked as a construction worker, and his mother was a homemaker and they lived in a working-class neighbourhood in Pittsburgh.

Andy was ‘dogged’ by illness, at the age of eight, he contracted a rare and severe illness called Sydenham’s chorea. This left him bedridden for several months, during which time his mother helped fill his days by giving him drawing lessons, which ignited his passion for art. Andy attended Schenley High School in Pittsburgh, where he demonstrated early artistic talent and where he was recognised and encouraged in these abilities. After graduating in 1945, he went on to study at the Carnegie Institute of Technology (now Carnegie Mellon University) in Pittsburgh.

After completing his studies in 1949, Andy moved to New York City, where he began his career as a commercial artist and illustrator. He worked for magazines, advertising agencies, and retail stores, quickly gaining recognition for his unique and imaginative art style.

By the late 1950s, he had started experimenting with Fine Art and had begun producing paintings, drawings, and prints. He found his inspiration in everyday objects and popular culture, leading him to create many of the works that would become iconic representations of the Pop Art movement and synonymous with Andy Warhol.

In the 1960s, he established his now famous studio space called “The Factory.” It was a hub for creative collaborations, attracting artists, musicians, writers, and celebrities, alike and it rapidly became a centre for the avant-garde in New York City.

Warhol’s fascination with celebrity culture led him to create portraits of many famous personalities, including Marilyn Monroe, Elvis Presley, and Elizabeth Taylor.

Andy Warhol’s creativity extended way beyond painting and drawing and he ventured into film, creating the experimental movies “Chelsea Girls” (1966) and “Empire” (1964), a slow-motion film of the Empire State Building.

Andy Warhol, well known for his contributions to the Pop Art movement and his choice of subjects for his art, was heavily influenced not only by celebrity and popular culture but also brand names, crime and for some reason car crashes. Some of his most famous paintings include the following:

The market for Warhol’s work has existed from day one and interest from buyers is truly international, with his work being sold across the world, where it is both a highlight and a mainstay of all the major and minor auction houses and galleries across the world. His major works continue to change hands for multi-million pound sums and the second and third most expensive Warhol works sold at auction to date are as follows:

Behind the scenes Andy Warhol is just as fascinating, here are a few little known facts about him.

Time Capsules:
Warhol was an avid collector and archivist. He had a fascination with preserving everyday items and created what he called “Time Capsules.” These Time Capsules were essentially cardboard boxes in which he stored various objects such as newspapers, correspondence, photographs, art supplies, and random items from his daily life. Over the years, he filled over 600 of these Time Capsules, which provide a unique insight into his life and the culture of the time.

Religious Devotion:
Despite his flamboyant and controversial public persona, Warhol was a devout Byzantine Catholic. He attended church regularly, and his religious beliefs played a significant role in his life. He even commissioned religious-themed artworks, including several portraits of Jesus Christ.

Art Collector:
Warhol was an enthusiastic art collector and he had his own extensive collection of art, including works by fellow contemporary artists and art pieces from various periods and styles. Following his death, Sotheby’s auction house held a nine-day auction in 1988 where they sold off more than 10,000 items from Warhol’s personal collection, which fetched tens of millions of dollars.

Underground Filmmaker:
As mentioned earlier in this piece Warhol is well-known for his contributions to the visual arts and he was also a pioneer in underground filmmaking. In the 1960s, he produced a series of experimental films that challenged traditional cinematic conventions. One of his most famous films is “Sleep” (1963), which depicts his friend John Giorno sleeping for over five hours. Warhol’s films often explored themes of monotony, voyeurism, and the passage of time.

Wig-Wearing Icon:
Andy Warhol’s signature silver-white wig became an essential part of his public image. He began wearing wigs in the 1960s to create a distinctive look, and it quickly became one of his trademarks. The wig allowed him to transform his appearance and present himself as an enigmatic figure in the art world and popular culture

Cookbook Author:
In 1959, Warhol and his friend Suzie Frankfurt co-authored a quirky and amusing cookbook titled “Wild Raspberries.” The book, which was never intended to be a practical guide to cooking, featured illustrations and handwritten recipes for dishes like “Omelet Greta Garbo” and “Piglet a la Cubist.” This limited edition book is now a highly sought-after collector’s item.

These lesser known facts highlight the diverse and eccentric aspects of Andy Warhol’s life and artistic pursuits. His impact on various forms of art and culture continues to be influential and celebrated to this day.

Throughout his life, Andy Warhol continued to push the boundaries of art, leaving a lasting impact on the art world and popular culture. His early experiences and upbringing shaped his artistic style and many of the themes he explored in his work.

Read more about investing in Warhol art here.

To get in touch about a valuation, visit our Contact Us page.

David Hockney soon to be 86 on July 9th

Posted on July 4, 2023August 9, 2024 by Jonathan Horwich

David Hockney is one of my all time favourite British artists and throughout his career he has created many truly iconic paintings. While it’s subjective to determine the “most famous” ones, here are some of his most notable works:

These are just a few examples of David Hockney’s most famous paintings, but his extensive body of work covers a wide range of materials, dates, subjects and styles, showcasing his endless versatility as an artist.

David Hockney is a renowned British artist known for his contributions to the Pop Art movement and his vibrant, colourful paintings, drawings, and prints. Hockney was born on July 9, 1937, the fourth of five children in Bradford, W est Yorkshire. He demonstrated a keen interest in art from an early age.

Hockney’s parents were Kenneth and Laura Hockney. His father, Kenneth, was a conscientious objector during World War II and worked as a conscientious objectors’ medic. Hockney’s parents were supportive of his artistic endeavours, even though they did not initially understand his decision to pursue art as a career. Throughout his life, Hockney maintained a close relationship with his family, particularly with his mother, who played a significant role in his life and artistic journey.

He attended Bradford Grammar School and then Bradford College of Art from 1953 to 1957, where he gained a solid foundation in traditional artistic techniques and disciplines. His fellow students included Derek Boshier, Pauline Boty, Norman Stevens, David Oxtoby and John Loker. Later, he pursued higher education at the Royal College of Art in London from 1959 to 1962, where he met R B Kitaj and also featured alongside Peter Blake in an exhibition there called ‘New Contemporaries’ which heralded the arrival of British Pop Art, a period when his artistic style began to take shape and evolve.

In the 1960s, Hockney rose to prominence as a key figure in the Pop Art movement, which challenged the traditions of art by incorporating popular culture and everyday objects into artworks. Alongside artists like Andy Warhol and Roy Lichtenstein, Hockney explored themes such as consumerism, mass media, and the impact of technology on society.

Here are a few examples of some of Hockney’s most expensive paintings at auction.

Here are some lesser-known facts about David Hockney: Hockney has a love of new Technology, especially that which will help him to make art, and he has embraced it in his artistic practice. He was an early adopter of the iPhone and iPad, and he has created numerous artworks using these devices. He even published a book of iPhone and iPad drawings titled “David Hockney: A Bigger Book.”

Hockney is secretly an author: In addition to his artistic endeavours, he has also authored several books. One notable example is “Secret Knowledge: Rediscovering the Lost Techniques of the Old Masters,” in which he explores the possibility that some of the Old Masters employed optical devices such as the camera obscura to aid in their artwork.

Stage design: Hockney’s creative talents extend beyond the realm of visual arts. He has designed sets for numerous operas, including productions at the Glyndebourne Festival Opera, the Metropolitan Opera, and the Los Angeles Opera. His stage designs are known for their vibrant colours and innovative use of space.

Dual nationality: Hockney holds both British and American citizenship. He moved to California in the 1960s and became inspired by the vibrant landscapes and lifestyle of Southern California, which greatly influenced his artwork during that period.

Knighthood: In 1990, David Hockney was awarded the Order of the British Empire (OBE) for his contributions to the arts. Later in 2012, he was further honoured with a knighthood, becoming Sir David Hockney.

Love for nature: Hockney is drawn to the beauty of nature and has spent considerable time painting landscapes, particularly in his native Yorkshire. He finds inspiration in the changing seasons and has captured the essence of nature’s colours and textures in his artwork.

David Hockney has had several close friends and acquaintances throughout his life, including notable figures from the art world, literature, and entertainment industry. Some of his close friends include, Peter Schlesinger, an artist and photographer, was one of Hockney’s closest friends and a frequent subject of his paintings. They were in a relationship during the late 1960s and early 1970s.

Celia Birtwell, a renowned textile designer and fashion icon, became friends with Hockney in the 1960s, and he often used her as a muse in his paintings. Birtwell’s vibrant and patterned fabrics also influenced Hockney’s artistic style. Ossie Clark was a British fashion designer and a close friend of Hockney. Clark’s designs were known for their bohemian style, and Hockney often collaborated with him, creating artwork inspired by Clark’s fashion. Jonathan Silver was a major patron and collector of Hockney’s work. He was a close friend of the artist and played a significant role in supporting and promoting his career at his gallery space at Salt’s Mill in Bradford.

At 86 David Hockney is a shining example of how making art and being constantly busy and creative can stop the years creeping up on you, long may he continue!

Art Basel

Posted on June 21, 2023August 9, 2024 by Ben Hanly

Last week’s Art Basel 2023 contemporary art fair, June 15 – June 18, defied forecasts of a market slowdown, with wealthy collectors buying works with seven or eight-figure price tags.

Described by its new chief executive Noah Horowitz as ‘the single most important annual event in the global art market’ and the ‘barometer of the industry’, Art Basel opened its doors to VIPs last Tuesday – the first two and a half days of the fair are traditionally reserved for wealthy collectors, before the doors open to the public from Thursday to Sunday.

Some 284 galleries representing more than 4,000 artists are represented at the fair in the Swiss city, which for one week every year becomes the centre of the global contemporary art market. Among them are regulars of the art event such as Gagosian, Hauser & Wirth, Pace, David Zwirner and Perrotin. Some 20 galleries from Europe, Africa, Asia and America will have a stand for the first time.

Three of the first-time labels are entering directly into the main Galleries sector, namely Blank projects (Cape Town), Empty Gallery (Hong Kong) and Offer Waterman (London). The Feature sector will host eight first-time exhibitors, including David Castillo (Miami), Thomas Erben Gallery (New York) and Gajah Gallery (Jakarta, Yogyakarta, Singapore), compared to 10 for the Statements sector.

Art Basel director Noah Horowitz hopes this year’s event helps maintain Art Basel’s status as the world’s leading contemporary art fair.

‘I am incredibly excited to welcome the international art community to Basel in June for another premier edition of our show and my first as the organization’s CEO,’ he said in a statement. ’Ranging from bold contemporary positions to rare presentations by 20th-century icons, our Basel fair will once again reaffirm its pre-eminent position as a platform for discovery and encounters that drive the art world.’

Alongside the contemporary art fair itself, visitors to Art Basel were able to discover some 20 special installations around Münsterplatz and downtown Basel.

One of these was a ‘sprawling superstructure’ designed by French-Moroccan artist Latifa Echakhch, a former Marcel-Duchamp Prize winner and Switzerland’s representative at the Venice Biennale in 2022. In addition, the city’s museums and cultural centres offered a wide range of exhibitions and events throughout the week.

While stock markets jitters and soaring interest rates had triggered predictions that the art market was cooling, that was not evident at the fair, where it was reported by Marc Glimcher, CEO of Pace NY ‘the art market seems quite healthy here in Basel. People are not paying crazy high prices, but they are not asking us to sell at crazy low prices either.’

At its VIP Day last Tuesday, Zurich’s Hauser & Wirth confirmed that they had sold a major 1996 spider sculpture by Louise Bourgeois to a US collector for US$22.5m (the most expensive sale of the day), and also an oil on canvas by US painter Philippe Guston for US$9.5m.

Similarly, New York’s Pace Gallery sold two fox sculptures from a new series by US artist Jeff Koons, even though one of the works had yet to be finished. They went for US$3m each. They also sold a Alexander Calder mobile for $2.8m and two smaller works by the artist, offered by his family, for $775,000 and $675,000. David Zwirner exhibited and sold Gerhard Richter’s oversized 2023 sculpture STRIP TOWER for $2.5m. Blue-chip work on the primary market that sold on VIP Day included a new painting by Jonas Wood, offered by David Kordansky Gallery for $2.5m.

Other highlights to be seen at the fair included a gorgeous sunset collured Rothko painting offered at $60m by Acquavalla Galleries; an impressive Picasso for $25m at Landau and a $14m Joan Mitchell triptych at Pace.

After a healthy rebound in 2021, the art market grew three percent in 2022 to US$67.8b, according to Art Basel’s annual art report published by Clare McAndrew.

McAndrew writes that while the first half of 2022 was marked by strong sales, and a number of record prices, the market was more subdued in the latter half due to political and economic instability, the war in Ukraine, increasing inflation rates, supply issues and looming recessions in key markets.

Whilst the Art Market is almost certainly cooling, this is a necessary correction that happens in the market every now and again. The market is still buoyant, with good things selling, but buyers are simply not paying over inflated prices. As art dealer David Nolan reported, ‘tricky times are often prime opportunities to buy art, with galleries more amenable to discounts and collectors looking to free up capital. There is such diversity in the types of people who come to Basel, many of whom budget specifically to buy at Art Basel, and who are less affected by the stock market and the interest rate fluctuations.’

Helen Bradley (1900-1979)

Posted on June 7, 2022January 16, 2025 by Jonathan Horwich

Many of us promise ourselves that we will take up painting in retirement, few of us ever do and even fewer stick at it and only a tiny few achieve commercial and critical success with their Art. Helen Bradley was one of these tiny few and in her own uniquely British way she created a whole new life for herself with her Art when at the age of 65 she began painting pictures each one recalling a memory of her Edwardian childhood. To begin with her paintings were a way for her to show her grandchildren just how different a place the world was for her as a child in the Edwardian Era.

Born in 1900 Helen Bradley was like the late Queen Mother, the same age as the century she lived in. She was born in Lees just outside Oldham in Lancashire and showed enough early artistic talent for her to study Art but only for one year from 1913, when as for so many others the Great War intervened stopping her art studies in their tracks , then marriage and children followed.

At first glance you might think that Helen Bradley’s paintings look a little like L S Lowry’s figure compositions, however she had her own unique style and technique just as Lowry has his. Indeed the two artists met early on in Bradley’s career, they got on well and Lowry continued to encourage Bradley in her work and the two developed a firm friendship. Neither artist followed or was influenced by the other and both held a strong admiration for each other’s work.

The majority of Bradley’s figure pictures depict specific remembered events and are often accompanied by a story handwritten in biro on a parcel label and usually attached to the back of the picture. These notes explain to some extent what the viewer is looking at in the composition and the characters, Bradley sets the scene for us to share her memories and individual characters the most famous of which is Miss Carter . This excerpt from her online biography explains a little about her characters.

She mixed a little pink colour, she painted the dress of a tiny figure. From that moment was created the enchanting land that was to delight millions. The figure she painted was that of Miss Carter (who wore pink) who features in most of Helen Bradley’s paintings. Other characters you will find are her mother, grandmother, her three maiden aunts, Mr Taylor (the bank manager) Helen herself with brother George and their dogs Gyp and Barney and many others.

These narrative paintings were first exhibited at The Saddleworth Art Society in 1965, followed by a London exhibition in 1966, and a sell out exhibition at the appropriately named Carter Gallery in Los Angeles in 1968.

In 1971 Jonathan Cape published the first of four books “And Miss Carter Wore Pink”. This was an instant success. German, French, Dutch and Japanese editions were published, and a special edition produced for the U.S.A.

Requests for illustrations of her work were satisfied by the publication of 30 Signed Limited Edition Prints, 3 Unsigned Limited Edition Prints and 11 Open Edition Prints.

Magazine features, appearances on television and radio endeared Bradley to the general public and led to her being awarded the M.B.E. for services to the arts, unfortunately she died on the 19th of July 1979 shortly before she was due to receive her M.B.E. from Her Majesty The Queen.

The market for Helen Bradley’s work is very well established and her work is regularly available at auction and in galleries and I hope that this little snapshot will whet your appetite for further investigation perhaps even a purchase. To start with you could consider buying one of her beautifully illustrated books of story pictures, all are out of print but are available online or in specialist galleries for around £15 to 30, the signed limited edition prints start at around £350.

What is an NFT?

Posted on March 9, 2022January 16, 2025 by Jonathan Horwich

Will they stand the test of time? Non-fungible tokens explained.

Non-fungible tokens (NFTs) seem to have come out of nowhere, however the technology has been around since at least 2014 if not before. The catalyst seems to have been Lockdown, if you can’t go to the saleroom then let the saleroom come to you, albeit virtually. Auctioneers, Galleries and Artists transformed their web presence almost overnight in order to offer NFTs that take the form of art and music and everything in between and are selling like hotcakes, some for a few £ and others for millions and millions of £, sometimes it feels like ‘Tulip Fever’ has re-visited us from the 17th-century…

What is an NFT?
An NFT is a digital asset recorded on the ‘Blockchain’ that represents actual objects such as art, music, in-game items and videos. An NFT is created, or “minted” from digital objects that represent both tangible and intangible items. They are bought and sold online, mainly using cryptocurrencies and are generally encoded with the same or similar software to that used by many crypto currencies. I think it’s best to assume that to be involved with buying NFTs you will have to embrace crypto currencies, the most common one used in NFTs is Ethereum. The value of Crypto currencies changes minute to minute day to day, before Christmas one Etheruem was worth around £3,000 to 1 Ethereum today its down to nearer to £2,200 to E1. Ethereum’s value is not only affected by the usual world events and demand but also by the sale of significant numbers of NFTs. Just like the Stock market, a collector offloading significant numbers of NFT’s creates downward price pressure on both crypto currency and the value of NFTs.

New NFTs are announced as ‘Drops’ and are either unique one off pieces or part of a limited edition exactly like limited edition prints, which interestingly were all the rage exactly 100 years ago back in 1922!
NFT ‘editions’ can be one off unique works or one from of a very limited run, large or small and each will have a unique identifying codes or features. Similar to Banksy print editions that are produced in total numbers of either 150 or 500, each print is individually numbered and carries formal certification and the ownerships changes are recorded, the smaller edition of 150 is also signed, typically numbered by hand in pencil, 7/150 the larger 150/500 etc.

What does fungible mean?
Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. For example I give you a fiver you give me one back and we are quits, i.e. they are fungible and equal in value – one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the Blockchain.

What is Blockchain?
NFTs exist on a blockchain, which is a public ledger that records transactions and ownership. If you are already familiar with Crypto currency then blockchain is the same underlying process that makes cryptocurrencies possible.

Specifically, NFTs are typically held on the Ethereum blockchain, although there are other blockchains that support them as well.

Each individual unique NFT is different. Each one has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible).
NFTs can have only ever have one owner at a time their unique data verifies their ownership and transfers ownership to new owners and artists can sign their artwork by including their signature in an NFT’s metadata.

Are NFTs here to stay?
I think yes, and they offer new opportunities and life enhancements. For example artists can now cut out the gallery and sell direct to the public and also engage with them face to face and online. Owners form communities who join together to discuss the artists they collect and follow. The discussions are not just about money, the NFT is very inclusive and no longer the exclusive domain of the mega wealthy collector and in buying NFT’s you support artists and get the inside track on the latest news and drops.
Also its all virtual you don’t have to worry about where to hang your piece, it lives in the secure ‘wallet’ on your phone and you can look at it anytime you like.

Who are the big names in NFT’s and why do collectors spend such huge sums of money on them?
The most famous and valuable digital artist is Mike Winklemann, better known as “Beeple” he made a composite of 5,000 daily drawings he made over five years to create perhaps the most famous NFT of the moment, “EVERYDAYS: The First 5000 Days,” which sold at Christies New York in March 2021 for £69 million. However you don’t have to own the Beeple NFT to see it, anyone can view the individual images—or even the entire collage of images online for free. So why are people willing to spend millions on something they could easily screenshot or download?
Owning the NFT allows the buyer to own the original item. Blockchain offers authentication and provenance which offers proof of ownership.
Artists can also program in future royalties so they can receive a percentage of sales whenever their art is sold to a new owner. This is an attractive feature for artists as generally they don’t always receive future proceeds after their art is first sold.

How do I Buy NFTs
First, you’ll need to get a digital wallet that allows you to store your new NFTs and cryptocurrencies. You’ll need to purchase some cryptocurrency like Ethereum, which you can buy using a credit card on platforms such as Coinbase, Kraken, eToro and PayPal. There will be fees so watch out for these, most exchanges charge a percentage of your transaction when you buy crypto.
Once you’ve got your wallet set up and funded, you are good to go. Currently, the largest NFT marketplaces are:

OpenSea.io
Rarible
Foundation

These platforms are host to thousands of NFT creators and collectors, equally you can also go to auction as all the main International auction houses now have fully staffed departments dealing only with NFT’s with private and regular auctions and ‘Drops’. Also the bigger galleries such as Pace now have a separate NFT department.

Should I buy NFTs?
NFTs are risky because there is no discernible secondary market as yet and so there are no comparable secondary sale prices that you might be looking at if collecting mainstream art. It’s all just so new, so maybe it’s worth just dipping your toe in the water and go for individual artists selling direct like ‘Waxbones’ via the site knownorigin.io. I was very impressed when I heard him on Radio 4 recently, as he says himself ‘I design information and wayfinding for cities by day and expel my creative juices under the alias ‘Waxbones’. by night.. his prices start at around £300 for his limited editions.

Buying NFTs must be a personal decision and only if you have money to spare and remember that the value is based entirely on what someone else is willing to pay for it. An NFT when it comes to resale may go for less than you paid for it, or you might not be able to sell it at all if nobody wants it.

I heard a collector speaking on the radio recently, he owns 15 NFT’s which he has bought as part of his broader investment portfolio, he has valued them all at £O! This way as he says ‘the only way is up’!

There lots to study and see out there on NFTs so take a good look around and enjoy!

Dame Laura Knight, RA, DBE, RWS (1877-1970)

Posted on August 25, 2020August 22, 2024 by Jonathan Horwich

Dame Laura Knight was an extraordinarily gifted painter, who despite being painfully shy in her early years, later developed a great sense of personal style and strength of character and honed her true genius for colour and composition.

Laura Knight – Artist’s Self Portrait, at her easel, public collection

Laura had a great lust for life and embraced everything it threw at her; from being a teaching assistant at Nottingham School of Art, aged 13, via the shores of North Yorkshire and Cornwall and following critical success becoming the first ever female Royal Academician. She was also the only female War artist in World War Two, covering the Nuremberg War Crime trials as the official British artist, with her career culminating in1963 with being the first female artist to have a full retrospective exhibition of her work at the Royal Academy.

Laura Knight – Nuremberg war crimes trials, collection of the Imperial War Museum

What a life! Laura really packed everything in. She had a very pale ‘English Rose’ complexion and blushed very easily, especially when confronted by ‘chaps’ other than her husband, the painter Harold Knight whom she married in 1903. For those of you who like movies featuring real artists, you can see Laura on Netflix in the flesh as it were in the 2013 movie ‘Summer in February’ starring Dominic Cooper as the painter Alfred Munnings, Laura is brilliantly played by Hattie Morihan and the movie is set in Lamorna, Cornwall.

Laura Knight – On the Cliffs, Cornwall. Signed, oil on canvas, 63 x 76 cms. Sold December 2009, £ 646,050 the current world record price

The action takes place in February of 1913. As Spring comes early down there, it was during what proved to be the last golden, warm, and peaceful Cornish Spring before the destruction and devastation of WW1 arrived in 1914. Laura is tongue-tied and red in the face whenever she is confronted by the roguish painter Alfred Munnings (Dominic Cooper is just playing himself I think!), who takes every opportunity to embarrass Laura with his advances whenever Laura’s husband Harold was nowhere to be seen.

Laura Knight, Ballet Girl and Dressmaker, signed, oil on canvas, 96 x 122 cms. Sold July 2018, £322,000

Laura learned painting from her mother who taught at Nottingham School of Art. When she was only13 her mother became terminally ill and Laura effectively took on her role. She married her childhood friend the painter Harold Knight (1874-1961) in 1903 and they moved to join the Staithes artists’ colony based on the North Yorkshire coast due north of Whitby, living and working in or near the village of Staithes .

Laura Knight – Packing Fish, Staithes, oil on canvas, 60 x 50 cms. Sold March 2013, £20,000

Her style is quite different in Staithes. As money was tight, she painted mostly in watercolour there. However, the work is very charming. She loved the local people and depicted their daily life in low-ceilinged, poorly lit interior with figures using muted and subtle colours.

Laura Knight – Marsh Mallows, Cornwall. Oil on canvas, 76 x 64 cms. Sold Dec 1999, £331,500

The Knights moved to Cornwall in 1907 and by 1908 Laura’s style had transformed under the influence of the warm, brilliant light, dazzling blue green seas and glorious sunny days. All this lifted her palette and her work to new heights. When this new work was first shown at the Royal Academy it caused a sensation and even today these truly remarkable Cornish pictures always command the highest prices.

Laura Knight – Munitions worker, collection of the Imperial War Museum

Laura Knight was a great painter in the British Impressionist tradition and a trailblazer for women artists of the 20th Century. Both Laura and Harold enjoyed critical and financial success, with Laura notably arriving in her Rolls-Royce to paint at the Epsom Derby. She was also amazingly productive, painting continuously for well over 50 years.

Laura Knight – A dull day Epsom, oil on canvas, 63 x 76 cms. Sold may 2014, £88,000

She was always on the hunt for new subjects, which in addition to Staithes and Cornwall include; the theatre, ballet, the circus – with all its players and characters – glamour girls and ladies, horse racing, fairgrounds, landscapes… She was a remarkably busy lady indeed, so luckily for the collector there are many buying opportunities, from fine black and white etchings for not much money, to drawings and sketches, and watercolours and oils.