Expensive art selling for hundreds of millions of dollars may seem like a farfetched idea to the average American, but for those in the art world, it’s an important factor for establishing the overall health of the art market. New York Loan Company, Manhattan’s luxury pawnshop, offers collateral based loans on important works of fine art.
Below is a quick list of some of the most significant and expensive artworks sold in the past decade, a small sample of four notable pieces of art that have spurred significant conversation. Other artists not mentioned on this list include Paul Gauguin, Rembrandt, Gustav Klimt, and Vincent van Gough.
Jackson Pollock’s “No. 5, 1948” sold for, at the time, a recording breaking $140 million dollars in 2006. This was a private sale brokered by Sotheby’s auction house for David Geffen of Geffen Records.
“The Scream” by Edvard Munch, easily one of the most recognizable pieces of art in the world, sold for $119.9 million at Sotheby’s New York in 2012. There are three other versions painted by Munch, one other pastel version and two paintings.
In November of 2013, headlines from around the world told of the Christie’s sale of Francis Bacon’s artwork “Three Studies of Lucian Freud”. The triptych (artwork divided into three sections) sold for $142.4 million dollars.
A private sale in 2011 was responsible for the sale of “The Card Players”, one piece in a series of oil paintings by Paul Cézanne. The sale price is estimated to be between $250 to $300 million dollars.
Many of the artists whose works have sold for record-breaking amounts of money have been brought into New York Loan Company. The pawn shop regularly purchases and loans on artwork from Pablo Picasso, Marth Rothko, Ed Ruscha, Wilem de Kooning, Andy Warhol, and Jasper Johns.
Please email New York Loan Company at Art@newyorkloan.com to inquire about a loan on fine artwork.