Contemporary Art Auction Clarified
Contemporary art is punchy and compelling. It’s often brightly colored and abstract. It’s anything from the past forty years that subtly whispers “I, as a buyer, support living artists” or “I, as a buyer, enjoy thought-provoking artwork.” It’s rare to find someone who’s never heard of Andy Warhol or Salvador Dali, but there are many smaller name artists who are finding eager contemporary art auction audiences clamoring to buy original art.
The top 10 contemporary artists, whose works sold for over $5 million at auction, are as follows: Lucian Freud, Jasper Johns, Jeff Koons, Brice Marden, Bruce Nauman, Robert Rauschenberg, Gerhard Richter, Richard Serra, Frank Stella, and Cy Twombly. Other artists (in the $1 - $4 million range) to look out for include: Chuck Close, David Hockney, Ellsworth Kelly, Anselm Kiefer, Claes Oldenburg, Robert Ryman, and Wayne Thiebaud.
Jasper Johns, one of the highest paid modern artists, can’t seem to keep up with the demand. He paints two projects each month (which will sell for no less than $1 million), but the waiting list is still long. Entertainment giant David Geffen paid $40 million for “Gray Numbers” a few years back and New York City’s Metropolitan Museum of Art allegedly paid over $20 million for “White Flag.” John’s colorful paintings touch upon Americana themes — with lots of flags, maps and targets - with subtle messages that affect every onlooker differently. If a collector is fortunate enough to find a Jasper Johns in an art auction house, then there’s no telling how much it’ll sell for.
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