GA Trade Nov-Dec interactive - page 38

I
n 2013, the global Fine Art
auctionmarket increased 5% by
value sold from the previous year,
earning over $14.4 billion. A
significant increase (+13%) was also
seen in Germany during the same
period, making it the fifth-largest
market for auction sales of Fine Art.
A look at the artnet Price Database
revealed that Fine Art auction sales
in Germany reached over $265
million during 2013; only the
United States, China, the United
Kingdom, and France saw higher
totals. Additionally, nearly 50% of
the country’s sales were attributed
to the top three German auction
houses: Villa Grisebach Auktionen
GmbH, Ketterer Kunst München,
and Lempertz.
Perhaps evenmore noteworthy is
the global success of German
artists at auction.
Recently, the artnet
analytics team
compiled auction
data for the top 10
German artists,
and found that
over the past
decade, works by
these artists have
garnered over
$2.5 billion.
Rather unsurprisingly, Gerhard
Richter held the no. 1 spot. Having
realized over $1.2 billion in auction
sales since 2004, Richter accounted
for almost 50% of the value brought
in by the top 10 German artists.
German expressionist painter
Ernst Ludwig Kirchner and influen-
tial surrealist Max Ernst also
performed well, together bringing
in over $392million.
Along with Richter, Andreas Gursky
and Anselm Kiefer lead the market
for living German artists.
Spotlight: Gerhard Richter
Known for his revolutionary use of
the squeegee in his paintings,
Gerhard Richter has experienced
staggering success at auction
internationally. Not only does he
dominate the market for German
art, but he tops the list for living
artists – surpassing the likes of
Jeff Koons, Damien Hirst, and
Zeng Fanzhi.
In 2013, Richter became the first
living German artist tomeet the
eight-figure mark when Domplatz,
Mailand (Cathedral Square, Milan)
(1968) sold for over $37million
at Sotheby’s Contemporary Art
Evening Sale, held inMay. The work
also ranks second in two broader
lists: Top Lots by German Artists
and Top Lots by Living Artists.
In fact, if you were to peruse
a list of the top 100 lots
by German
M E M B E R P R O F I L E
Overviewof the
FineArtMarket inGermany
38
GermanAmerican TradeNov/Dec 2014
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