Hiscox is one British Insurance Company Founded in 1901, which offers policies for high value properties, classic cars, works of art, pure blood, kidnapping and rescue, and aerospace accidents. At the beginning of the month he announced his Contemporary Art Report 2025 or Hat 100 which is based on the results of the public market of art auctions for 2024. These do not necessarily have their correlation with the institutional relevance of the artists, which is established through biennials, awards and exhibitions in museums. In other words, Hat 100 is an analysis of what contemporary art sells in view of the publictaking as a starting point the year 2000.
From the report it arises that in 2024 The total value of sales fell 27% Regarding the previous year. And that the five most valuable works sold in 2024 reached 181 million dollars, 19% less than the 228 million of 2023.
The most expensive contemporary work of the year was “Ria, Naked Portrait” by Lucian Freud, which was awarded for 13 million dollars at an auction held in London. It follows “I want to see the bright lights tonight” by Yoshitomo Nara (2017), sold in Hong Kong for 10.3 million, and “Troupeau d’eléphants dans les arbres table” (2001) by François-Xavier Lalanne, auctioned in New York for 10 million. Jeff Koons occupies fourth position with “Balloon Monkey (Blue)” (2013), sold by 8.2 million in London. The fifth place is for Kerry James Marshall with “Vignette #6” (2005)sold in New York for 6.5 million dollars. All in Christie’s and Sotheby’s headquarters.
The geographical presence in the total ranking is dominated by American artists with 43%, Europeans continue with 36%, Asia and Australia with 14%, 4%Africa, Latin America 2%and the Middle East and North Africa 1%). Christie’s and Sotheby’s also lead sales In the last 5 years (2019-2024).
In this period Banksy beat a record in 2021, sold for 65.1 million that, added to the 8.8 million of 2024, make a total of 73.9 million; Something that confirms the irony of their style companions (graffiti): there is no cause to be unfair not to become a valuable model. Less meteoric, but with an overwhelming work, the other outstanding is David Hockney (88 years) who, in those 5 years, sold 65 million and in 2024, 8.5 million; With a total of 73.5, almost drawing Banksy.
Outstanding artists
Here are some of those who stand out in the report.
François-Xavier Lalanne (1927-2008) and Claude Lalanne (1924-2019) They were a renowned French artistic duo, recognized for their surrealist sculptures and their functional art. Married in 1967, the couple frequently collaborated, maintaining their individual artistic styles. François-Xavier specialized in the creation of large-scale sculptures, often furniture with animals, such as his iconic “rhinocrétaire” and sheep sculptures. Claude was known for his intricate works inspired by nature, including motifs of bronze flora and fauna, which integrated organic forms with poetic sensitivity. Together they became pioneers in the art world, blurring the borders between the Fine Arts and the design. In 2023, François-Xavier and Claude Lalanne generated 62.6 million in auctions of works produced after the year 2000, which placed François-Xavier in the second place of the ranking and Claude in the tenth. In 2024, their sales were driven by the auction dedicated to François-Xavier Lalanne de Christie’s in New York, which included the sale of 70 sculptures from Dorothée’s personal collection, daughter of Lalanne.
Outstanding artist under 45 years: Lucy Bull (n. 1990, New York) is an artist resident in Los Angeles known for its dynamic and abstract paintings that evoke sensory experiences. Graduate of the Chicago Institute of Art, his work presents vibrant layers of color and intricate textures. The artist, who debuted in the auction market in 2022, is represented by the David Kordansky gallery in Los Angeles and has recently been the subject of an individual exhibition at the Miami Contemporary Art Institute. Last year, Lucy Bull’s works raised 8.1 million in auctions, an increase of 38%, which placed it in 18 of Hat 100, from 35 in 2023.
Outstanding contemporary artist: George Condo (n. 1957) He is a American contemporary artist recognized for his fusion of classical painting techniques with surreal figures, a style that he calls “artificial realism”, which emerged in the New York artistic scene of the 1980s, along with Jean-Michel Basquiat and Keith Haring. In 2024, his works after the year 2000 raised 27.8 million in auctions, a 6% drop compared to the previous year, but sufficient to ascend to third place of Hat 100 (from fifth place in 2023).
Artists with greater movement: Maurizio Cattelan (n. 1960), Italian conceptual artist recognized for his satirical and provocative sculptures that challenge contemporary power and culture. He obtained international recognition in New York with the Nona Ora (the ninth hour), a wax statue of Pope John Paul II impacted by a meteorite, originally exhibited in 1999 at the Kunsthalle in Basel. In 2024, the works of Cattelan after the year 2000 generated 5.3 million in auctions, which catapulted it to position 29, from 978 in 2023. This was mainly due to the sale of their work “Comedian” (the famous banana attached to the wall), which reached a 5.2 million auction price in Sotheby’s in New York in November 2024.
Lucian Freud (1922-2011), British painter recognized for his intense portraits and nudes of great psychological load. Renowned figurative artist, he used a dense pasta and a meticulous detail to capture the physical crudeness of his models. In 2024, sales in Freud works auctions made after the year 2000 increased 185%, which promoted it to eighth place (43 in 2023) thanks to the successful sale of one of its paintings. His work “Ria, Naked Portrait”, sold for 13.1 million, portrays Ria Kirby, art manager that the 83 -year -old artist knew at the Victoria and Albert Museum in London in 2006.
Agnes Martin (1912-2004), American-Canadian painter known for its minimalist abstractions based on grids that evoke tranquility and introspection. It was influenced by Zen Buddhism and abstract expressionism. It exhibits in important institutions such as MoMA, Tate Modern and Guggenheim. Although the works created by Martin after the year 2000 are relatively scarce in auctions, in 2024 four of them were sold for a total of 8.3 million, the second highest figure since 2022. As a result, Agnes amounted to the 17th place in the Hat 100 list, from the 286th place in 2023.
A fact No Argentine artist integrates ranking of the most expensive works in the world.
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