The Most Expensive Works Sold at Auction in 2023 – ARTnews.com

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In 2020, only two of the ten most expensive works of art sold at auction went for prices exceeding $50 million. Then, the next year, driven in part by the sale of artworks from the divorced couple Harry and Linda Macklowe, each of the top ten lots surpassed the $50 million mark. In 2022, the bar was raised once again: the least expensive piece in the top ten, a work by René Magritte, was sold for $79.8 million.

Now, that bar has been lowered. In 2023, the landscape changed once again, with the prices of the most expensive works sold at auction having dropped off significantly from last year.

Compare this year’s tenth-most expensive work to 2022’s. Henri Rousseau’s Les Flamants (1910) sold this past May for $43.5 million, setting a new auction record for him. That’s a little more than half the price of the Magritte sold in 2022.

Signs of a downturn are evident in other ways, too. This year, four of the works that generated the year’s top ten prices overall went for under $50 million—many fewer than last year. Consider the case of the most expensive work sold at auction, too. This year’s most expensive work, a Picasso painting, sold for $139 million. Last year’s, a Warhol painting of Marilyn Monroe, sold for $195 million. That’s a 29 percent drop-off between the two.

The total figures for the top ten lots exhibit a similar drop-off—$660 million in 2023 versus $1.1 billion in 2022.

Below, a look at the most valuable lots sold at auction in 2023.

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