New York Art Auction Market Rebounds with Frequent Record-Breaking Sales

(CNA, New York, 19th, Comprehensive Foreign Report) Works by American artist Jackson Pollock and Romanian sculptor Constantin Brancusi, among others, have fetched record-breaking prices, as New York's spring auctions show strong momentum, confirming a trend that began late last year: the return of a boom in high-value sales. According to an Agence France-Presse database, 12 works have already sold for over $30 million in New York this May, with two surpassing the $100 million mark. This reverses the sluggish auction market of the previous year, which experts believe was affected by global economic uncertainty and a lack of high-value artworks on the market, AFP reported. "We are indeed in a trend reversal," Thierry Ehrmann, founder of the art market information company Artprice, told AFP. Jackson Pollock's "Number 7A, 1948" was hammered down for $181.2 million at Christie's in New York yesterday. The large-scale painting, over 3 meters wide and featuring black paint drizzles with red accents, became the fourth-highest-priced work ever sold at auction. Pollock's previous auction record was $61.2 million in 2021. "Danaide," a bronze head by Romanian-French artist Constantin Brancusi, also sold for $107.6 million, breaking his 2018 personal record of $71.2 million and setting the second-highest price for a sculpture in auction history. American painter Alice Neel's "Mother and Child (Nancy and Olivia)" sold for $5.7 million at Christie's yesterday, a new personal record. The highest price ever for a painting at auction remains "Salvator Mundi," believed to be by Leonardo da Vinci, which sold for $450 million in 2017. Market analysts point out that many works in this auction boom come from well-known private collections and are often released in batches, which is more effective at attracting major collectors. Ehrmann stated that the buyer demographic is also changing. He said, "This is no longer just a market for the ultra-rich," as younger buyers around the age of 35 are beginning to participate in auctions, with many coming from