The art market has benefited from the good state of World economy and the presence of new buyers during the first half of 2000. Prices for 19th and 20th Century paintings have been going up steadily with buyers who have had important funds at their disposal though these are much more demanding than those of the 1980s regarding quality. The signature of an artist is no longer the first criterion while rediscovered works with sure provenances have been much sought. However some 19th Century paintings have failed to sell due to excessive reserve prices fixed by vendors. Impressionist works have been selling well as usual though buyers are looking for much coloured paintings. For this reason works from the Barbizon school, notably views of forests, have been less in demand.
Prices in France have been steadily equalling those fetched in the U.S and certain works, unsold in New York, have eventually found buyers in France. Regrading bronze sculpture, pieces representing animals, and notably those by Alfred-Louis Barye, have gone up in prices.
Regarding Old masters, many strong bids have been recorded during the past six months even for lesser-known painters. Venetian views are still much in demand and have gone up by at least 25% pricewise. A view of the Grand Canal seen from the Campo di San Vio by Canaletto tripled its pre-sale estimate to fetch US $ 6,6 million. Other views of Rome have also been selling well while works by Tiepolo or Carracci have reached high prices.
High quality paintings by Old masters have notably reached prices comparable with those fetched for Impressionist works while an increased number of foreign dealers have been buying pieces in France though New York continued to steal the show.
Prices remained strong for Contemporary art works though the market swerved towards icons of a more recent past, notably works by Jeff Koons, thanks to the active presence of new buyers much involved in the sector of new technologies.
Still, buyers have been more selective and have turned their backs much on average pieces.
There has been an increased demand on artistic photographs, notably those by Thomas Struth, Andreas Gursky or Thomas Ruff, which have fetched tremendous prices.
The market has however been more active in New York than elsewhere. Strangely enough, 55% of buyers have been coming from Europe. The Contemporary art market has remained quite dull in Paris where only a few French artists have emerged during the past ten years.
Art Deco pieces have also sold well with a strong progression in prices for works by Legrain, Jean-Michel Frank, Eileen Gray, Armand Rateau or Dupré-Lafon. As an example a set of 12 chairs by Rateau, sold for $ 200,000 three years ago were auctioned at $ 900,000 18 months later.
Prices for primitive arts have slightly risen while average prices have been neglected. Another indication is that Paris has been more active than New York in that field. Still, the presence of new buyers has been auguring well for the future.
Prices for classical photographs have remained strong and even average pieces have fetched incredible prices. In addition buyers have been increasingly interested in photographs from the late 1940s and the 1950s, notably those by Robert Doisneau or Edouard Boubat, especially as good pictures from the 19th Century have become rare. Photographs by Man Ray have remained much thought while those of Brassaï have been commanding higher prices.
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