Art Investment Dynamics:
Unveiling Timeless Pieces

‘According to Art Basel and UBS’s recent “The Art Market 2023” report, global art sales have hit their highest level since 2014, generating an estimated $67.8 billion.’ — says Edward Warburton, Artsy Private Sales Advisor.

This comes with the caveat of better performances at higher price points. A recent Sotheby’s and ArtTactic report found that works above $1 million represented 4% of lots sold by Christie’s, Phillips, and Sotheby’s between 2018 and 2022, but accounted for an overwhelming 74% of total sales value.
This indicates a strong demand at the very top of the market, where the buyers are insulated from the broader macroeconomic environment. Collectors also understand that at this level, the art market has demonstrated its resilience in the face of financial uncertainty. For those reasons established blue-chip artists continue to offer promising investment opportunities.

1.Andy Warhol
The iconic artist obsessed with celebrity, consumer culture, and mechanical reproduction, continues to resonate in the contemporary climate and draws collectors in with some of the most iconic images of the 20th century.

Andy Warhol
Marilyn Diptych, 1962
Silkscreen ink and acrylic paint on canvas
205.44 cm × 289.56 cm

2.David Hockney
A pioneer of the 1960s British movement, David Hockney is one of the most celebrated and prolific artists of the 20th and 21st centuries. Endlessly versatile, he has produced acrylic paintings, photo collages, full-scale opera set designs, and digital works created on iPads.

David Hockney
Pool Made with Paper and Blue Ink for Book - Paper Pools, Swimming Pool, 1980
Lithograph on Arches Wove
26.6 × 23 cm
Edition of 1000

Simultaneously the ultra-contemporary women artists continue to climb the market ladder. This interest illustrated at March auctions suggests that now is a good time to take a look at some of these artists.

3.Caroline Walker’s Threshold (2014) sold for $1.1 million at Phillips. The total caps an impressive trajectory for the Scottish artist, whose works’ prices under the hammer have risen at a remarkable pace over the past two years. Walker’s previous record was set by The Puppeteer (2013), which sold for $835,923 at Christie’s in February. Over 30 lots by Walker sold at auction last year and already 18 works have sold at auction in 2023 so far.

Lacquered Up
Oil on linen, 2016
162 x 139cm

3. Ethiopian artist Tiemar Tegene employs varying techniques in her practice, with a focus on etching. Her work explores the natural and constructed boundaries that exist within us all, specifically in relation to power and control. Tegene’s captivating works attracted a significant increase in traffic from collectors in 2022 compared with the previous year.

Tiemar Tegene
Black orchid, 2021
Oil, Acrylic, Oil stick
28.3 x 27.6 x 0.4 inch

Another trend that is visible is the continued focus on the Asian art market

2. Yoshimoto Nara belongs to the Japanese Pop art movement of the 1990s. His work pulls inspiration from various aspects of popular visual culture, such as graffiti, manga and cartoons. Somewhere between naïvety and mischief, his characters are elusive and spark the curiosity of their viewer.

Yoshitomo Nara
届け、君の町へ (On Its Way, to Your Town, 2020)
Colored pencil on paper
33.0 x 24.0 cm

Theodore & C. would be delighted to help you diversify your investment portfolio and your art collection. Take a look at our currently available works here or contact our team for more information.