Top 10 Most Expensive Pieces of Art Sold in 2016

No. 10 – Kerry James Marshall- Plunge (1992) – $2.1 million
Plunge by Kerry James Marshall kicks off the list. This acrylic and paper collage on canvas is symbolic of the slave trade era. It garnered just north of $2 million at Christie’s.
No. 9 – Frida Kahlo – Two Nudes In A Forest (1939) – $8 million
This piece has seen a huge increase in value over the past two decades as twentieth century female artists have grown in popularity. While it once sold for $150,000 in 1989, this painting just fetched $8 million in 2016.
No. 8 – Richard Prince – Runaway Nurse (2006) – $9.7 million
This painting sold for just $6.8 million five years ago, but it has increased in value by nearly $3 million over that time period. Purchased for $9.7 million in 2016 by Yusaku Maezawa, this contemporary piece from 2006 is part of Richard Prince’s “Nurse” series and has earned a lot of attention from both those in and outside of the art world.
No. 7 – Sam Francis – Summer #1 (1957) – $10.4 million
Sam Francis has seen several of his pieces increase in value in the last few years, including this postwar/contemporary piece from 1957.
No. 6 – Agnes Martin – Orange Grove (1965) – $10.7 million
Perhaps the buyer of this painting loves oranges. It was expected to garner about $6-$8 million at auction but ended up fetching close to $11 million.
No. 5 – Claude Monet – Le bassin aux nympheas (1919) – $27 million
While most of Monet’s pieces are actually housed in museums, this one went on the block this year and fetched $27 million at auction.
No. 4 – Mark Rothko – No. 17 (1957) – $32.6 million
Coming in at number four is this symbolic postwar piece by Mark Rothko, which sold for more than $32 million at Christie’s earlier this year.
No. 3 – Jean-Michel Basquiat – Untitled (1982) – $57.2 million
This contemporary piece from 1982 is one of the top attractions in the neo- expressionist art genre, and it continues to increase in value. Twelve years ago it sold for just $4.5 million. But just like Runaway Nurse, it was purchased by Yusaku Maezawa for more than $57 million.
No. 2 – Peter Paul Rubens – Lot and His Daughters (1613-14) – $58 million
This is the second most expensive Rubens painting ever, trailing only his “Master of the Innocents.” This is an extremely old painting as well as extremely valuable.
No. 1 – Pablo Picasso – Femme Assise (1909) – $63.4 million
Picasso is not for everyone, but there’s no doubt his paintings have fetched some of the highest amounts of money in the world, including in 2016, which saw his Femme Assise sale for just over $63 million. Much of the value comes from this painting being credited with introducing a new form of art. And of course, it’s a Picasso.
You also might like the article Art as an Investment
Follow GROCO on Facebook
Myths About Trusts
Myths About Trusts Trusts are a dependable way to arrange for the management of family funds. Yet even financially sophisticated people settle for less satisfactory alternatives. Lack of knowledge isn’t the problem. It’s the assorted myths about trusts handed down over the years. Myth #1. Only the very rich use trusts. Because what the superrich…
Calculating Capital Gains Tax on the Sale of a Collectible
Calculating Capital Gains Tax on the Sale of a Collectible Uncle Sam takes a tax bite out of almost every asset sold and collectibles are no exception. Indeed, collectibles are currently subject to one of the highest rates of federal taxation on an investment property. Long term Capital gain from the sale of a collectible…
Don’t Get Scammed on Your 2015 Tax Return
Don’t Get Scammed on Your 2015 Tax Return By Alan Olsen, CPA, MBA (tax) Managing Partner Greenstein Rogoff Olsen & Co. LLP It’s tax season and for a lot of people that can be a very scary time of year. Some people will attempt to go it alone and use an online tax program, while…
Sales Tax Deduction Option, State and Local
[vc_row][vc_column][vc_column_text] Sales Tax Deduction Option, State and Local The Tax Relief and Health Care Act of 2006 extended the election to deduct state and local general sales taxes for 2006. The act was enacted after Schedule A (Form 1040), Itemized Deductions, and its instructions were printed. Because we were not able to include the instructions…