RedUmbrella Fine Art Auctions
22949 Ventura Blvd, Suite F, Woodland Hills, California 91364
818-444-8888
About Auction House
Red Umbrella Fine Art is pleased to present a collection of hand signed original paintings and fine art print editions by major international and local artists.Auction Previews & News
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Press ReleaseRepeat Auction Sales of Art by Women on the Rise
A woman contemplates an oil painting "Un jardin pour audrey" (1974) by Joan Mitchell during the exhibition "Mitchell-Riopelle, Nothing in moderation" (Un couple dans la demesure) in the Fonds Helene et Edouard Leclerc in Landerneau, western France, last December. AFP/Getty Images Repeat auction sales of art tracked by Sotheby’s Mei Moses unit in the last six years show prices for works by female artists have risen dramatically faster than works by men. Sotheby’s Mei Moses’s All Art-Female index rose by 72.9% between 2012 and 2018. In other words, “a work by a female artist bought in 2012 would, on average, be worth 72.9% more if sold in 2018,” the firm said in a report released by Art Agency, Partners, Thursday morning. The All Art-Male index rose by only 8.3% in the same time frame. That’s a drastically different result than the previous 50 years, when repeat sales of both male and female artists moved roughly in tandem, says Michael Klein, head of Sotheby’s Mei Moses, a firm that tracks the art market through repeat auction sales of more than 63,000 objects. In the past 50 years, “gender didn’t make a difference, but what we’re seeing in the past couple of years, is apparently it has,” Klein says. “It was fascinating to see the uptick on top of the fact that things have been the same for so long.” The inside story, in 15 minutes.Listen to how a Barron’s story came together to expose the forces that shape investing today––and how this impacts your portfolio––with our podcast, The Readback. A new story, every week–– listen in iTunes now. Despite the acceleration in repeat sales of works by women, the proportion of works by female artists and male artists sold at auction hasn’t changed much over the last 10 years. Of global auction sales in 2018, art by women represented only 8% of total lots sold compared with a 6% share in 2008, according to The Art Market 2019, a report written by the Ireland-based firm Art Economics for Art Basel and UBS. The report also points to a 2017 academic study that shows a…
Press ReleaseGlobal Art Auction Sales Plummet 20% Over Same Period in 2018
Auction houses such as Sotheby's have taken a financial hit during the first half of 2019 over the same period in 2018, according to a new art sales report. (Getty Images) The latest financial report for global art sales is in and it doesn’t paint a pretty picture. Sales at the the top auction houses — Sotheby’s, Christie’s and Phillips — tumbled a staggering 20.3% in the first half of 2019 over the same period the year before, according to Auction Review. Despite Contemporary and Postwar sales inching up about $100 million from last year to 2019, sales of Impressionist and modern sales sank nearly $1 billion during the same period, from $2.4 billion to $1.5 billion. Asian and Chinese art dropped nearly 50%, according to The Financial Times, which reported just $447 million in auction sales — down from $875 million during the first half of 2018. Despite Contemporary and Postwar sales inching up about $100 million from last year to 2019, sales of Impressionist and modern sales sank nearly $1 billion during the same period, from $2.4 billion to $1.5 billion. (Getty Images/iStock) In June, German Expressionist artist Walter Jacob’s “View into the Castle Garden” sold for over $84 million, and Amedeo Modigliani’s “Young Man Sitting with Hands Crossed on Knees” took in $23.3 million.[More News] French couple faces jail time after allegedly taking 90 pounds of sand from beach in Sardinia » One major cause for the precipitous decline was the massive May 2018 selloff of Peggy and David Rockefeller’s collection, which sold for an eye-popping $832 million, according to Christie’s. Three of the priciest artworks in that sale included Pablo Picasso’s “Young Girl with a Flower Basket,” which was sold for $115 million; Claude Monet’s “Water Lilies in Bloom" — scooping up for $84.7 million — and Henri Matisse’s “Odalisque couchee aux magnolias,” which received a final bid of $80.8 million.
