Artmarket.com: at just 34, Avery Singer has already reached $4 million at auction. Artprice looks at the reasons and the risks.

PARIS,June 29,2021 -- The international enthusiasm surrounding Avery Singer's work has less to do witha'rarity factor'and more to do with the sustained pace with which her market – both primary and secondary –has beenpromoted over the last three years. Exhibitions in highlyprestigious galleries (Kraupa-Tuskany Zeidler,Gavin Brown,Hauser & Wirth) and regular auction results have raisedthe pressure on hermarketinflating the prices of this young American painter's work to sensational levels in Hong Kong (in May 2021) then in New York (in June).

Top 10 historical auction records for artists under 35

Top 10 historical auction records for artists under 35

Infographic - http://cusmail.com/res/2023/07-23/23/88b0c3e90563f4b0b798119134771aa8.jpg

Sold lots and turnover filtered by artists' age when works were created - Artprice database (2000 - 2020)

Sold lots and turnover filtered by artists’ age when works were created - Artprice database (2000 - 2020)

Infographic - http://cusmail.com/res/2023/07-23/23/540596e3b867196324206f2df71d52d7.jpg

According to thierry Ehrmann,President and Founder of Artmarket.com and its Artprice department,"Avery Singer represents a paradigm shift that is to the art world what negative interest rates are to financial markets"

In just a few years,the new stars of Contemporary Art can become far more expensive than the grand Old Masters. Neither the rarity of a work nor the place of an artist in Art History seems to be as important today as the sensation of novelty and the enthusiasm it arouses".

Hong Kong vs. New York

A total of 18 Avery Singer paintings have already been auctioned since 1 January 2017 and only two failed to sell. Predictably,her very large formats are the most sought-after. In May 2018,Sotheby's sold the canvas Fellow Travelers,Flaming Creatures (2013) in New York. Estimated $60,000 - 80,000,it reached $735,000.

On 21 May 2021,Avery Singer's careerentered a very different ballpark when her Dancers Around An Effigy To Modernism (2013) sold for over $3 millionat Christie's in Hong Kong. A month later,on 23 June,her Untitled (2018) sold for $4.1 million(including fees) atPhillips in New York.

That'sthe second-best auction result of all time for an artist under 35. The absolute record still belongs toRaqib Shaw,for his Garden of Earthly Delights III (2003) which fetched$5.5 millionat Sotheby's London in October 2007 when Shaw was just33. However,Shaw's work has never since reached that kind of level at auction.

The fateful age of 35

When Amedeo Modigliani died he was35 years old,anage when artists are oftenjust reaching their first artistic maturity. His "youthful" masterpieces are now worth several million dollars,but it took many years after his death in 1920 for that to happen.

At 35,Avery Singer has already had important solo exhibitions,notably at the Stedelijk Museum in Amsterdam in 2016 and at the Ludwig Museum in Cologne in 2019. But the 7-digitresults recorded for canvases she painted when she was26 (in 2013) seemextremely 'premature'.

Consecratedby the finest European museums andsupported by Anglo-Saxon mega-galleries,Avery Singer is turningthe heads of great collectors,both Western and Asian. And – profiting froma globalized art market that seems increasingly thirsty for novelties – the majorauction houses are raisingthe prices of herworks to perilous heights.

Images:

[https://imgpublic.artprice.com/img/wp/sites/11/2021/06/image1.artmarket-artprice-top-10-under-35.png]

[https://imgpublic.artprice.com/img/wp/sites/11/2021/06/image2.artmarket-artprice-turnover-by-artists-by-age.png]

Copyright 1987-2021 thierry Ehrmann www.artprice.com - www.artmarket.com

Don't hesitate to contact our Econometrics Departmentfor your requirementsregardingstatistics and personalized studies: econometrics@artprice.com

Try our services (free demo): https://www.artprice.com/demo

Subscribe to our services: https://www.artprice.com/subscription

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris,SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO,thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur,created in 1987.

See certified biography in Who's who ©:

https://imgpublic.artprice.com/img/wp/sites/11/2021/06/Biographie_nov2020_WhosWho_thierryEhrmann.pdf

Artmarket is a global player in the Art Market with,among other structures,its Artprice department,world leader in the accumulation,management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results,covering more than 770,000 artists.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day,commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 4.5 million 'members log in' users have access to ads posted by other members,a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).

Artmarket with its Artprice department,has been awarded the State label "Innovative Company" by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.

Artprice by Artmarket's 2020 Global Art Market Report published in March 2021:

https://www.artprice.com/artprice-reports/the-art-market-in-2020

Index of press releases posted by Artmarket with its Artprice department:

serveur.serveur.com/press_release/pressreleaseen.htm

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

www.facebook.com/artpricedotcom/(over 5million followers)

twitter.com/artmarketdotcom

twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/videoheadquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o

www.facebook.com/la.demeure.du.chaos.theabodeofchaos999

(4.5million followers)

https://vimeo.com/124643720

Contact Artmarket.com and its Artprice department - Contact: ir@artmarket.com

Logo - http://cusmail.com/res/2023/07-23/23/afee34945a1467854341adb413221426.jpg