Jean Dubuffet Personnages
Acrylic On Canvas Backed Paper
100 x 81 cm. 1981
ARTIST MARKET NEWS:
Issue #144 SUMMER 2015
(Top 10,000) Report, Summer Sales
# 1 Masterpiece Trade This Summer Le Lit I by Jean Dubuffet $887,941 purchase price. $3,298,842 sold 31.9 % return
1) The Dubuffet market has been undervalued
2) Pictures with compartments and figures such as these have become more popular due to the fact that the Paris Circus series has become very valuable.
3) These later paintings are catching up. There are not many around.
4) They are very hard to find. I found these through a dear colleague who knew the artist intimately.
5) Large numbers of these works were bought at auction by dealers, whose retail prices have no relationship to the acquisition costs.
The strong liquidity and clear speculative nature of global art trade has again been confirmed with 35 repeat sales in the high end of the art market this summer—in other words, every third artwork sold over $1.5 million recently had been already seen at the auction market before; 10 of those, or about 9% of total masterpieces, sold this summer had been flipped within 5 years.