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Artmarket.com: according to our long-term data, art made in 1964 has generated more auction turnover than art made in any other year of the 20th century

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PARIS, June 27, 2023 /PRNewswire/ — May’s auction results in New York showed that after all the records set by the Paul G. Allen, Anne H. Bass, and Thomas Ammann collections, 2023 began with relative sobriety. In an interview with journalist Amy Shaw for the Art Newspaper at Art Basel, art dealer Dominique Lévy said he detects the presence of a “clear correction”. Artprice takes this opportunity to review the acceleration of the art market since the beginning of the 21st century, via a quick look at the works that the market values the most.

 

Auction turnover (2000-2022) by year of creation in painting
Photo – https://mma.prnewswire.com/media/2141769/year_of_creation_in_painting.jpg 

Auction turnover (2000-2022) by year of creation in painting

“The analysis of auctions results is a fascinating way to examine the evolution of Art History”, explains thierry Ehrmann, President of Artmarket.com and Founder of Artprice. “Our databases, have collected objective and comprehensive Fine Art auction data for more than 30 years from all over the world. They therefore provide an extraordinary tool for studying the appetites of collectors and revealing what our contemporaries value the most”.

The triumph of Pop Art

In 1964, Andy Warhol, Roy Lichtenstein, Robert Rauschenberg, and Ed Ruscha were at the peak of their careers and these four artists all have auction price records for works created that year, in the midst of the Cold War, just a few months after the assassination of President J.F. Kennedy. These records, to which must be added more than thirteen thousand other auction results for artworks made that year, make 1964 the year-of-creation that generated the greatest volume of auction turnover in the period 2000 to 2023 (twenty-two years), all creative periods combined: $2.48 billion.

Having fetched the second best art auction result of all time at $195 million on 9 May 2022 at Christie’s in New York, Andy Warhol’s Shot sage blue Marilyn (1964) is now a sort of figurehead for that year (1964). Although from a market perspective the previous two years were just as important for Warhol, 1964 is also remembered in the art world for another reason: in 1964 Robert Rauschenberg won the Grand Prize at the Venice Biennale. Indeed, promoted by Leo Castelli (and perhaps even supported by the CIA), in 1964 Pop Art imposed itself in the art world thereby consolidating a significant shift of art (and the art market) to the West… a transfer of power from Paris to New York on the international scene. The way this transfer came about has been the subject of intense discussion.

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Top 15 auction prices for artworks produced in 1964 
Photo – https://mma.prnewswire.com/media/2141770/artworks_produced_in_1964.jpg

Top 15 auction prices for artworks produced in 1964

Abstraction, Pop Art and Expressionism

In the mid-1960s, several major artists of the first half of the 20th century were still creating important works. Pablo Picasso, Alberto Giacometti, and René Magritte were still active. In Asia, Li Keran and Fu Baoshi were perpetuating the art of traditional Chinese painting by giving it very personal touches of modernity, while in Europe Zao Wou-Ki and some of his compatriots were exploring Lyrical Abstraction. In England, a new generation was making its mark: David Hockney was 27 in 1964, Frank Auerbach was 33 and Lucien Freud was 42. They were just at the beginning of their careers, but that year Francis Bacon, aged 55, painted some of his best portraits.

In the United States, Mark Rothko, Barnett Newman, Willem De Kooning, and Clyfford Still were still exploring Abstract Expressionism and Jackson Pollock had passed away a few year back, while a new artistic revolution was emerging: Pop Art. It was this movement that truly imposed America on the international art scene and the international art market. The works themselves were often brilliant and eye-catching but they also often contained covert or less-covert criticism of the American dream. In France, Pierre Soulages has already painted his best canvases, but a new Expressionist scene was beginning to emerge in Germany, with Gerhard Richter and Sigmar Polke, Georg Baselitz, and Anselm Kiefer, among others. Their work unfolded over many years and therefore did not produce the same concentration of market value as the American Pop Art movement.

The success of this movement was notably due to a relatively small number of series of works on which collectors focused heavily, and these series were created by the great names of American Pop Art and were generally worked and reworked for a few years… around 1964.

Sources

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Art Basel may be busy, but cautious sales reflect a complex market picture, Amy Shaw, The Art Newspaper, le 15 June 2023.
https://www.theartnewspaper.com/2023/06/15/art-basel-may-be-busy-but-cautious-sales-reflect-a-complex-market-picture

1964: Pop Art arrives in Europe, a betrayal as seen from France, Thomas Snégaroff, France Info, 2 October 2015.
https://www.francetvinfo.fr/replay-radio/histoires-d-info/1964-le-pop-art-debarque-en-europe-une-trahison-vue-de-france_1788541.html

Market analysis of works created by the Warhol-Basquiat duo exhibited at the Louis Vuitton Foundation, Artprice, 25 April 2023
https://www.artprice.com/artmarketinsight/works-co-signed-by-jean-michel-basquiat-and-andy-warhol-are-currently-showing-at-the-fondation-louis-vuitton-in-paris

Images:

[https://imgpublic.artprice.com/img/wp/sites/11/2023/06/image1-1964-artmarket-com-auction-turnover-by-year-of-creation-in-painting.png]
[https://imgpublic.artprice.com/img/wp/sites/11/2023/06/image2-1964-artmarket-com-top-15-auction-prices-artw Roy Lichtenstein orks-produced-in-1964.png]

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Copyright 1987-2023 thierry Ehrmann www.artprice.comwww.artmarket.com

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.

See certified biography in Who’s who ©: Biographie-thierry-Ehrmann_WhosWhoInFrance.pdf

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Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 817,000 artists.

Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world’s leading Fine Art NFT platform.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 7200 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 7.2 million (‘members log in’+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).

Artmarket, with its Artprice department, has twice been awarded the State label “Innovative Company” by the Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market.

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Artprice by Artmarket’s Global Art Market Report, “The Art Market in 2022“, published in March 2023: https://www.artprice.com/artprice-reports/the-art-market-in-2022

Artprice releases its 2022 Ultra-Contemporary Art Market Report: https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022

The Artprice 2022 half-year report: the art market returns to strong growth in the West: https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com

Index of press releases posted by Artmarket with its Artprice department: https://serveur.serveur.com/artmarket/press-release/en/

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

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www.facebook.com/artpricedotcom/ (over 6.3 million followers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum “The Abode of Chaos” (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

Photo – https://mma.prnewswire.com/media/2141769/year_of_creation_in_painting.jpg
Photo – https://mma.prnewswire.com/media/2141770/artworks_produced_in_1964.jpg
Logo – https://mma.prnewswire.com/media/1665887/4138422/Art_Market_Logo.jpg

Contact Artmarket.com and its Artprice department – Contact: Thierry Ehrmann, [email protected]

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Blockchain Press Releases

MALAYSIAN FOUNDERS BRING WEB3 TO MALAYSIAN SHORES WITH MALAYSIAN BLOCKCHAIN WEEK (MYBW) 2024

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KUALA LUMPUR, Malaysia, July 15, 2024 /PRNewswire/ — The country’s inaugural Malaysia Blockchain Week (MYBW) is poised to bring mainstream Malaysia into the world of Web 3. MYBW boasts strong Malaysian roots in an international digital space, featuring Malaysian founders and bringing together key Malaysian industry players well-known in the digital space.

The week-long event hosted by Malaysian Web3 powerhouse Lydian Labs will be held in partnership with the Malaysia Digital Economy Corporation (MDEC) and kicked off by Minister of Digital, YB Tuan Gobind Singh Deo.

MEET THE MALAYSIAN FACES OF THE BLOCKCHAIN SPACE

The Web3 space transcends international borders, attracting dedicated Malaysians to push the unexplored frontier of the industry.

As such, many Malaysians have become industry giants in the blockchain space, commanding significant influence and expertise in the industry. Despite their elusive real-life presence, lucky participants at MYBW will be able to rub shoulders with these Malaysian founders of key Web3 companies.

Youths and young-at-heart builders keen on exploring Web3 ventures as well as seasoned international investors will benefit from the congregation of blockchain experts and Web3 veterans.

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Expect to see local industry giants at MYBW, who will be present in support of the Malaysian-led initiative as well to provide unique industry insights at the event’s keynote presentations and panel discussions.

Present at the event will include Matthew Tan, the founder and CEO of the leading Ethereum block explorer, API and Analytics Platform, Etherscan.io. Prior to Etherscan, Tan founded and developed one of the earlier token-based blockchain explorers, Blockscan, for Counterparty, a smart contracts blockchain built on top of Bitcoin. He has around 15 years of industry experience, consulting and developing bespoke line of business solutions when he was a co-founder of a data/web applications solutions provider.

Next is Bobby Ong, the co-founder and COO of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is one of the largest cryptoasset data aggregators in the world. Additionally, Ong is a contributing author in two digital currencies books – Handbook of Digital Currency, 1st Edition and Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1. He was also included in the Forbes 2019 30 Under 30 Asia list and graduated with a Bachelor of Science in Economics from University College London in 2012.

Other Malaysian founders include, but are not limited to:

  • Siong, co-founder of Jupiter, a decentralised exchange aggregator on the Solana blockchain platform using an extensive liquidity network and advanced algorithms.
  • Shawn Chong, co-founder of Salus, a holistic Web3 security company with experience in traditional and blockchain security focusing on user protection and strategic initiatives at the intersection of blockchain and cybersecurity.
  • TN Lee, founder of Pendle Finance, a DeFi platform that enables users to tokenize and trade future yield on Ethereum assets.
  • Dr Ian Tan, co-founder of Lydian Labs, a full stack Web3 Solutions Provider focused on advisory, tech, and marketing specialised in the APAC region.
  • Nicole Yap, founder of 8SIAN NFT which artfully tokenizes the rich tapestry of Asian heritage into NFTs which celebrate the history and depth of Asian women while building a global and inclusive Asian community.
  • Julian Koh, co-founder of Aevo, a high-performance decentralised derivatives exchange focused on options.

These Malaysian powerhouses will also be joined by international industry names such as Chess, CEO of GM Network; Dr Kang Li, CSO of CertiK; Victor Ji, Co-Founder of Manta Network; Gracy Chen, CEO of Bitget; Yoann Turpin, co-founder of Wintermute; Moshe, chairman of Oobit; Mark Rydon, CEO of Aethir; John Yao, CEO of Team Secret and many more.

MINTING THE FUTURE OF MALAYSIAN WEB3

MYBW will set the tone and future for Web3 growth and widespread adoption in Malaysia, featuring 33 panel discussions, 15 keynote talks, and more than 150 speakers which will open the curtain on important blockchain topics such as regulatory issues, the decentralised finance & syariah digital economy, blockchain traceability, NFTs & Web3 Gaming, and the impacts of Artificial Intelligence (AI) on the Malaysian landscape.

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The event, anticipated to draw more than 2,500 participants, will facilitate discussions between key stakeholders, bringing together decision-makers from the government and industry leaders to mint the future of Web3 for Malaysia.

Tickets for MYBW are already available on the official website.

EVENT DETAILS:

Date: 31 July – 1 August 2024 | 10am – 6pm
Location: World Trade Centre Kuala Lumpur (WTCKL)

Website details: https://myblockchainweek.com/

About Lydian Labs

Lydian Labs is a full stack Web3 solutions provider focused on the APAC region and China, providing 3 main pillars of services: Advisory, Tech, and Marketing.

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####

To know more about Lydian Labs, visit https://bit.ly/LydianLabs or find them on X (formerly known as Twitter).

Photo – https://mma.prnewswire.com/media/2461323/MALAYSIAN_BLOCKCHAIN_WEEK.jpg

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Blockchain Press Releases

BlockScholes X Bybit Crypto Derivatives Analytics Report Reveals Investors More Bullish on ETH Than BTC

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in partnership with BlockScholes, has released its latest Crypto Derivatives Analytics Report, highlighting a notable divergence in investor sentiment between Ethereum (ETH) and Bitcoin (BTC).

The report, analyzing market trends and trading signals across spot trading volume, futures, options, and perpetual contracts, underscores a growing bullish sentiment toward ETH. Key findings indicate that investors are increasingly optimistic about ETH, particularly in anticipation of the imminent launch of the first Ether Spot ETFs in the United States. This optimism is reflected in ETH’s sustained volatility premium over BTC, which has persisted amid heightened market activity.

Key Highlights from the Report:

  • Bullish Sentiment Toward ETH: BlockScholes’s Senti-Meter Index reveals a bullish sentiment among investors toward ETH compared to BTC. This sentiment is influenced by expectations surrounding the imminent ETF launch for Ethereum.
  • ETH Futures Outperforming BTC: Despite recent market fluctuations, ETH futures have shown a quicker recovery in open interest compared to BTC. This recovery trend suggests a robust market narrative focused on ETH’s ETF prospects.
  • Strong Perpetual Trading in ETH: Significant trading volumes in ETH perpetual contracts indicate substantial long positions, possibly driven by strategic positioning ahead of anticipated market developments.
  • High ETH Option Volatility: ETH options market volatility remains elevated, especially in anticipation of ETF approval, contrasting with BTC options, which exhibit a more defensive posture.

In response to the findings, Bybit’s Head of Institutions, Eugene Cheung, commented: “The latest data underscores ETH’s resilience and market appeal as we approach key regulatory milestones. Investors are demonstrably positioning themselves favorably amidst growing market expectations.”

#Bybit / #TheCryptoArk

About Bybit

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Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

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Blockchain Press Releases

Apply and Win the Dream Getaway to Austria and Cutting-edge Gadgets with Bybit Card

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DUBAI, UAE, July 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, is excited to announce the launch of its Bybit Card campaign, offering users the opportunity to win extraordinary prizes, including a dream getaway to Austria and cutting-edge tech gadgets including an iPhone 15 Pro and more.

To participate in the campaign, users need to apply and spend at least 500 EUR/USD with their Bybit Card. By completing both steps, they will automatically enter the Lucky Draw, where they stand a chance to win a guaranteed prize. The first 1,000 users who fulfill the requirements will be eligible for the Lucky Draw.

The campaign will run from Jul 15, 2024, 10:00 AM UTC to Aug 18, 2024, 11:59 PM UTC. During this period, users can take advantage of this exciting opportunity to win fantastic rewards.

In addition, VIP users will receive a 30 EUR/USD card bonus, enhancing their overall Bybit Card experience.

Joan Han, sales and marketing director at Bybit, said, “With the Bybit Card, individuals can seamlessly incorporate digital finance into their everyday lives, whether they’re shopping online or covering routine expenses. By providing users with convenience and flexibility, we aim to enhance their financial experiences. Furthermore, we are thrilled to introduce a range of diverse rewards and campaigns to our global user base, thereby creating greater accessibility and convenience for utilizing digital assets.”

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The Bybit Card blends the world of digital finance with everyday transactions, offering users a seamless spending experience. For more information about the Bybit Card and how to apply, visit:https://www.bybit.com/en/promo/campaign/Apply-Card-Win-Big

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

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