Top 10 Most Expensive Contemporary Art in the World

Introduction: Contemporary Art at Auction

What are the most expensive ‘things’ in the world? Correct, artworks. Year by year, the secondary art market shocks the world with dazzling sales at auctions. These auction records often result in colossal excitement or public controversy. But what are the highest realized prices for contemporary art?

This means we won’t be presenting Salvator Mundi by Leonardo Da Vinci, Paul Cézanne’s Card Players, or Paul Gauguin’s When Will You Marry? Only recent, contemporary artworks are considered, which is the most vivid era of the secondary art market today.

Before getting lost in a debate on what makes an artwork contemporary (read our extensive article on this question here), we have selected the broadest interpretation of contemporary, opting for all post-war artworks. So without further ado, let’s discover the most expensive artworks produced from 1945 to today.

Before we extensively discuss the top 10 of the most expensive contemporary artworks in the world, here is a short anthology of the ones that did not make the cut. In the 20th spot: Andy Warhol’s Turquoise Marilyn from 1964 sold for 80 million USD. In the 19th spot: Jasper Johns’s False Start from 1959, also sold for 80 million USD. In the 18th spot: Barnett Newman’s Black Fire I from 1961 sold for 84.2 million USD. In the 17th spot: Francis Bacon’s Triptych from 1976, sold for 86.3 million USD. In 16th spot: Mark Rothko with Orange, Red, Yellow from 1961, sold for 86.9 million USD. In the 15th spot: David Hockney‘s Portrait of an Artist (Pool with Two Figures) from 1972, sold for 90.3 million USD. In 14th spot: Roy Lichtenstein’s Nurse from 1964, sold for 95.4 million USD. In the 13th spot: Eight Elvises by Andy Warhol from 1963, sold for 100 million pounds. In the 12th spot: Andy Warhol with Silver Car Crash (Double Disaster) from 1963, sold for 105.4 million USD. And in the 11th spot: Barnett Newman’s Anna’s Light from 1968 sold for 105.7 million.

As we enter the realms of 9-figure sales, let’s take on the world’s top 10 most expensive contemporary artworks. And, if you would wonder why these artworks are so costly, make sure to read our article Why is Modern & Contemporary Art So Expensive?

Please note: If you are a contemporary artist, read our article on How To Succeed As an Artist. Or, feel free to head over to our Services for artists, to get featured or request professional 1-on-1 advice.

10. $110 million: Flag (1958) by Jasper Johns

We open our list in style with Jasper Johns. Born in 1930 in Augusta, Georgia, the American artist is best known for his flag paintings. As a result, it is no surprise that this Flag painting from 1958 is his most expensive painting.

In March 2010, Jean-Christophe Castelli sold the artwork in question by a private sale to Steven A. Cohen for an impressive 110 million USD. The American artist, associated with Abstract Expressionism but also Pop Art, has been the most expensive living artist multiple times throughout his career, achieving seven and eight-figure auction results on an almost regular basis.

Jasper Johns is included in our article of the most famous contemporary painters today.

9. $110.5 million: Untitled (1982) by Jean-Michel Basquiat

Up next, we have Jean-Michel Basquiat’s famous Untitled. Arguably, the most famous untitled painting in the world, the artwork was sold by the Basquiat family on May 18, 2017, at Sotheby’s in New York. Yusaku Maezawa bid 110.5 million USD, making the painting the most expensive by an American artist.

Jean-Michel Basquiat, born in 1960 and passed away in 1988 in New York City, was an American artist and pioneer of the Neo-Expressionist art movement. Basquiat would rise to fame, becoming the American golden boy achieving monumental successes during his early 20s, participating in major art events worldwide before his untimely death aged 27.

8. $137.5 million: Woman III (1953) by Willem de Kooning

November 18, 2006, Larry Gagosian, the director of the industry-leading art gallery Gagosian, completes the private sale of David Geffen’s collection to Steven A. Cohen. The painting in question is a characteristic expressionist painting by Willem de Kooning from his Woman series. Number III, to be more precise. The realized price? 137.5 million USD.

The painting is a typical oil on canvas expressionist painting, characteristic of de Kooning’s oeuvre. Willem de Kooning, born in 1904 in Rotterdam, the Netherlands, was a Dutch-American painter who passed away aged 92 in 1997 in East Hampton, New York. However, this painting is not de Kooning’s most expensive painting. So, to be continued (cf. infra).

7. $140 million: No. 5 (1948) by Jackson Pollock

Our number seven on this list is No. 5 from 1948 by Jackson Pollock. As with our top four, Jackson Pollock’s drip paintings are not really contemporary art. Action painting and Abstract Expressionism can be considered the culmination point of Modern Art, as we are balancing the transition of Modern Art to Postmodern Art.

Nevertheless, this post-war painting is as iconic as its master. Jackson Pollock, born in 1912 in Cody, Wyoming, passed away aged 44 in 1956 in Springs, New York. On November 2, 2006, the painting was sold for an incredible 140 million USD in a private sale arranged by Sotheby’s. No. 5 went from David Geffen’s collection to David Martinez’s collection. Doing so, the monumental masterpiece became the most expensive painting in the world before being surpassed in April 2011.

6. $142.4 million: Three Studies of Lucian Freud (1969) by Francis Bacon

A portrait by one master of the other. Three Studies of Lucian Freud was painted in 1969 by Francis Bacon. The Irish-born British artist, born in 1909 and passed away in 1992, depicted his dear friend and colleague Lucian Freud in this unique triptych.

On November 12, 2013, Elaine Wynn bought the masterpiece at Christie’s in New York for a stunning 142.4 million USD. The British figurative painter dethroned everyone, taking the record of the most expensive artwork sold at auction. This record would be surpassed in May 2015 by our number four from this list.

5. $165 million: Masterpiece (1962) by Roy Lichtenstein

In the fifth spot, we encounter the highest-ranked, most expensive, ‘truly’ contemporary artwork. Masterpiece from 1962 by Roy Lichtenstein was sold in 2017 as a private sale for a total of 165 million USD. Steve A. Cohen bought the iconic artwork from Agnes Gund, with the sale being used as a starting point to fund the criminal justice reform, which was called the Art for Justice Fund.

Roy Lichtenstein, born in 1923 and passed away in 1997 in New York City, was an American Pop Artist. He pioneered the contemporary art movement along with the likes of Andy Warhol and Jasper Johns. The artwork in question was featured in his retrospectives across the globe in the years before the sale.

4. $179.4 million: Les Femmes d’Alger (Version O) (1955) by Pablo Picasso

Although it is clear that Pablo Picasso is not a contemporary artist, as his works and relevance are rooted in Modern Art and the interwar era, the iconic Spanish-French artist continued to produce new works into the postwar era. As a result, we encounter one of his works in our list, taking the fourth spot in our article with Les Femmes d’Alger (Version O) from 1955.

Pablo Picasso, born in 1881 in Malaga, Spain, was a Modern Artist and pioneer of Cubism who passed away in 1973 in Mougins, France. The artwork in question went from a private collection onto the secondary market, resulting in a memorable sale at Christie’s in New York. The Qatari politician Hamad bin Jassim bin Jaber Al Thani bought the artwork for a staggering 179.4 million USD.

3. $186 million: No. 6 (Violet, Green and Red) (1951) by Mark Rothko

We enter the podium with none other than Mark Rothko. In August 2014, Yves Bouvier sold the painting No. 6 (Violet, Green, and Red) from 1951 by a private sale to Dmitry Rybolovlev for a total of 186 million USD. At the time, the realized price made the painting the most expensive artwork in the world.

Bouvier told the buyer he was acting as an art dealer. However, he simply recently bought the painting himself from H.B. Paiker for €80 million before selling it to his client Rybolovlev with a €60 million profit. The sale was known as the infamous Bouvier Affair.

Mark Rothko is a Latvian-American painter, born in 1903 in Daugavpils, Latvia, who passed away at age 66 in 1970 in New York City. Mark Rothko is one of the essential abstract expressionists, best known for his color field paintings from the 1950s and 1960s.

It is no surprise to find Mark Rothko in the top three of our list, as his works are often sold for seven and eight figures on the secondary market. Think of his painting Orange, Red, and Yellow from 1961, which sold for 86.9 million USD, or No. 10 from 1958 and its 81.9 million USD realized price.

2. $200 million: Number 17A (1948) by Jackson Pollock

In the second spot, we encounter another Jackson Pollock painting. This time, the famous Abstract Expressionist shocked the world with a whopping 200 million dollars for the painting Number 17A from 1948. The artwork had been sold through a private sale from the David Geffen Foundation to Kenneth C. Griffin.

The painting in question is featured in the edition of Life. The magazine issue would make Pollock an artist and a celebrity. The drip painting was received with great scrutiny and was not so popular in the public opinion. The value of the painting in 1948 was relatively low due to the underwhelming first reactions.

However, as Pollock became a truly established artist in the years shortly after, the mocking turned into applause, and the low value would reach incredible heights, culminating in this massive sale in 2015, resulting in the second spot in this article.

1. $300 million: Interchange (1955) by Willem de Kooning

The most expensive contemporary artwork in the world is the painting titled Interchange from 1955 by Willem de Kooning. In September 2015, the David Geffen Foundation sold the painting by the manner of a private sale to the entrepreneur and investor Kenneth C. Griffin for a mind-boggling 300 million USD. As you might have spotted, on the same day, K. C. Griffin also bought our silver medallist of this list, spending 500 million USD on just two paintings the same day.

Although the painting seems to be pure abstraction, the pinkish paint represents a seated woman in the center of the canvas. The artist finished the painting in 1955 before selling it for 4.000 USD during the same year. Sixty years later, the picture was sold for 75.000 times more, temporarily becoming the most expensive artwork in the world.

Today, the painting is the second most expensive artwork, with only Leonardo Da Vinci’s Salvator Mundi surpassing de Kooning’s work by 150 million USD.

Last Updated on October 26, 2024