We have seen great strength and resilience in the American art market in recent years, and it continues to show signs of good health and future growth, especially in the middle-market. There is especially high demand for American scene painting of the 20th century, especially identifiable urban scenes of the depression era, and for works by highly coveted modern and contemporary American artists, such as Andrew Wyeth, Marsden Hartley and Wolf Kahn, who Bonhams now holds the world auction record for with the sale of Pink Light on the Sea this past May. We also continue to see a growing interest in historically underrepresented artists in the category, especially female artists and artists of color, such as Sally and March Avery and Ernie Barnes—artists whose markets continue to be led by Bonhams. It is wonderful to see a greater appreciation being given to those artists previously overlooked.

 

While we continue to focus on serving the traditional sectors of the American art market, we relish opportunities to introduce collectors to new artists and movements and ignite conversations that expand our collective vision of American art. For example, we had the pleasure of including a significant example from artist Mario Sanchez, the most important Cuban American folk artist of the 20th century working in Key West, Florida, in our American Art auction this past May. Often characterized as an outsider artist or as a memory artist, compared to the likes of Grandma Moses and Clementine Hunter, he created bas relief wood carvings painted over in vibrant colors that are inspired by his familiar surroundings and are imbued with humor and nostalgia. This unique offering also reaffirmed our long-held understanding across all sectors of the American art market that collectors are interested in works that they can connect with on a geographical level, and that reaffirm their sense of place and belonging in America.

Wolf Kahn (1927-2020), Pink Light on the Sea, 1995-1999, 42 x 60 in. SOLD: $298,950

Mario Sanchez (1908-2005), Key West’s Great Imitator, 1961, 17 x 29 in. 

Across all sectors of the American art market, we also continue to see that collectors seek quality over many other factors when selecting their next acquisition, especially in more traditional areas of the market. One of the key lessons we took away from our American Art auction this past May, is that there is still a very healthy appetite for top quality works of American impressionism and the Hudson River School. The sale saw strong, competitive bidding for top quality works by Richard Edward Miller, Thomas Moran, Francis Augustus Silva and William Bradford.

Thomas Moran (1837-1926), Santa Maria della Salute, Venice, 1915, 30 x 40 in. SOLD: $171,950

As we look ahead at the years to come, we’re optimistic about the future of the American art market. Aside from our strong, existing collecting base that regularly participates in our auctions, we’re continuing to see seasoned collectors that traditionally buy in other collecting categories enter the American art market, taking an interest in diversifying their existing collections. Also, we’re seeing younger collectors (50 and younger) entering the market, and we believe we’ll continue to see this trend as baby boomers and the silent generation pass down their wealth to the younger generations over the next approximately two decades. As a key purveyor of American art in the current market, our mission continues to be to engage, educate and enlighten our clients on the endless collecting opportunities this incredibly rich and diverse category has to offer.

Bonhams
580 Madison Avenue, New York, NY 10022
www.bonhams.com

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