Claes Thure OLDENBURG (1929)

Every fortnight, Artprice provides a short round up of art market news.

The market is holding its breath ahead of the critical May sales in New York that will inevitably gauge the health of the Impressionist, Modern and Contemporary segments.As expected, the price tags are substantially lower than a year earlier in all three segments

The general price index for American Pop Art – the epicentre of art market speculation since the beginning of the decade – is showing signs of waning. Although Andy Warhol is the third most expensive post-war artist, along with Francis Bacon and Mark Rothko, auction sales of his works since the start of 2008 have been less successful… Could this be a first sign of market saturation?

Pop art blurred the lines between fine art and its commercial cousin — an astute business move, apparently, as prices at auction now spiral beyond the reach of many collectors.