The art market is recognizing the value of women artists, but there is still progress to be made

  • Joan Mitchell’s paintings set new records at recent auctions, signaling the market’s recognition of women artists
  • Total sales of works by female artists rose 10% from the previous year
  • However, works by female artists represented just 12% of the total value achieved at the auctions
  • The art market still has a long way to go in valuing works by women equally to those by men
  • Wealthy collectors are spending more on art by women, leading to changes in their collections
  • Works by female artists dominated the top-performing artists list at the New York evening sales
  • Signs of change are evident, but achieving balance and equity will take time

Two significant paintings by Joan Mitchell recently sold at auctions in New York, setting new records for the artist. These sales, along with a 10% increase in total sales of works by female artists, indicate that the market is recognizing the value of women artists. However, works by female artists still represent a small percentage of the total value achieved at auctions. Wealthy collectors are starting to spend more on art by women, leading to changes in their collections. Works by female artists dominated the top-performing artists list at the New York evening sales. While there are signs of change, achieving balance and equity in the art market will take time.

Public Companies: Christie’s (), Sotheby’s (), UBS (), Phillips (), ArtTactic (), Gurr Johns (), Art Basel ()
Private Companies:
Key People: Matthew Newton (art advisory specialist at UBS), Rachel Rosan (senior director of fine art at Gurr Johns)

Factuality Level: 7
Justification: The article provides information about recent art auctions in New York where paintings by Joan Mitchell sold for record-breaking prices. It also discusses the overall sales of works by female artists and the disparity in value compared to works by male artists. The article includes quotes from art experts and analysis from ArtTactic. While the article presents factual information about the auctions and sales, it also includes some subjective statements and opinions from the experts.

Noise Level: 7
Justification: The article provides information on the recent record-breaking sales of Joan Mitchell’s artwork and the increasing value of works by female artists in the art market. It also discusses the lingering disparity in the art market and the efforts being made to address it. The article supports its claims with examples and data from ArtTactic and the Art Basel-UBS report. However, the article also includes unrelated information about Andy Warhol’s watches, which is not relevant to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: The article does not provide any information about events that impact financial markets or companies.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the record-breaking sales of Joan Mitchell’s paintings at auctions in New York, highlighting the increasing value of her artwork in the market. However, there is no mention of any extreme events or events impacting financial markets or companies.

Reported publicly: www.barrons.com www.marketwatch.com