Market Watch: Market Editor Report August 2023

Roy Lichtenstein's Benday Dot Print depicting a cross-legged nude woman reading a book on a couch.Nude Reading © Roy Lichtenstein 1994
Sheena Carrington

Sheena Carrington, Market Editor[email protected]

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Traditionally quieter in the art market, August marks a significant midpoint in the Q3 auction calendar. Artnet's mid-year intelligence report offered comprehensive insights into the art market's mid-year performance. While some sales fell below expectations, anticipation is building for the upcoming sales in the Autumn season. Banksy's "Cut n Run" exhibition has made headlines with plans to travel, though specific locations remain undisclosed. As we look ahead, the September sales will conclude Q3's performance in the annual auction calendar, featuring works central to the core sales of the market.

MyArtBroker Trading Floor Insights

Banksy’s print market, always hot on its heels, is in first place in monthly demand for August, capturing the attention of 85 potential buyers.

Damien Hirst's market demand falls second with 58 potential buyers by the end of August, nearly doubling from July. Hirst's print market demand has seen alternating monthly increases in 2023, which is unsurprising given his unrelenting creativity and the media buzz around his recent drops, The Beautiful Paintings and Where The Land Meets The Sea. It appears Hirst has truly mastered the art of making waves in the art world.

Andy Warhol ranks third, and Keith Haring and David Hockney follow closely behind, concluding August.

Upcoming Auction Insights

Anticipation is building for September as top auction houses Christie’s, Sotheby’s, and Phillips gear up for a flurry of live and online sales that will conclude Q3 of the yearly auction calendar.

ArtNet’s Intelligence Report concluded a high amount of bidding from day sales and strength within the market's core–works priced between $100,000 to $1 million range–having increased by 18%. Because of this, we expect to see solid performance from the September sales. Read our latest article, Charlotte Stewart and Louis Denizet explore strategies for consigning blue chip prints in this price range, ensuring that you receive a genuinely fair market value for your artwork.

Lots to Watch

The upcoming September sales will offer a large selection of post war and contemporary blue chip prints and multiples, including works from Yayoi Kusama, Bridget Riley, Roy Lichtenstein, David Hockney, Grayson Perry and others. Works from Andy Warhol's most coveted series–Ads, Myths, and Endangered Species– are likely inclusions and complete sets.

Yet, the crème de la crème is Banksy's Choose Your Weapon (light orange), a rare screenprint making its auction debut. This exclusive edition of 25 carries a unique hue, elevating the excitement. This work is valued by MyArtBroker's MyPortfolio at £90,000 - £130,000.

Banksy Market Watch

  1. MyArtBroker reviews The Banksy Story: A BBC Radio 4 Podcast, fully released at the end of July.
  2. Banksy’s Cut n’ Run exhibition set to travel after drawing record crowds.
  3. MyArtBroker's Rebecca Marsham has said of the show:

"As an art dealer working in the Banksy market and as a long-term admirer of Banksy's work, wit and wisdom, the decision to make the early morning pilgrimage to Glasgow from London to see his first official show in 14 years was well worth the arduous effort of such a long train journey.

I've been to a number of his shows, including the fabulous Dismaland in Weston-Super-Mare, but to see his actual stencils and to see them displayed as thought-provoking works of art in their own right was such a treat. To be given the opportunity to glance into the life of the man (or woman...?) himself (or herself) rather than purely the artist is rare and appreciated.

Brilliantly curated, the show was a raging success. My friend and I returned to London on the train proudly clutching our Banksy goody bags, exhausted, inspired and happy.’’

Other Market News

  1. Whitney trustee and art collector Emily Fisher Landau’s collection is coming to auction. Details are yet to be confirmed. The collection could rake in between $375 million and $500 million.
  2. Claude Picasso, the longtime Administrator of (his father’s) The Picasso Estate, passed away at 76.
  3. ArtNet’s Intelligence report included a comprehensive article on the current state-of-the-art market with a heavy emphasis on the underwhelming performance of The Gerald Fineberd Collection, leaving many to wonder: what does this mean for the art market?
  4. London is preparing for Fall Frieze Week, which has announced a new edition dedicated to women artists.

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