, it became the year’s global art-world sensation. But in Australia, wealthy collectors and investors were plunging their money into quality works, not fads, and digging deep for bold colourists.
“I’d have a bit of a challenge justifying gaffer-taped bananas for $9.6 million, but they do pull in the crowds ... I’m sure a crypto trader could explain it better!”Crypto founder Justin Sun eats the organic part of Maurizio Cattelan’s Comedian, in Hong Kong after paying $9.6 million for it.The flight to quality is expected to continue in 2025, as cost-of-living pressures weigh down the lower-value end of the market, and works in private collections re-emerge for the first time in decades.
“That doesn’t happen often,” Smith says. “Brett Whiteley is a popular artist because he does evoke emotions in people of all different ages, from young art students to people in their 80s. He was born in 1939, so he speaks to many generations.”A rare blue-and-white ceramic from the collection of Joan and Peter Clemenger came up for auction in November and sold for a record $225,000.
equalled the artist’s record price at auction. The winning bidder paid $625,000, including buyer’s premium. A growing demand for sculpture has been a feature of 2024, and that will likely continue, Hackett says.