Money in Art: The Top 10 Italian Artists Raking in Millions!
Who are the modern masters topping international auction charts? Discover the names that are worth gold (and the dizzying prices)!
A Thriving Market:
The Italian contemporary art market is on the rise, with a turnover in 2022 reaching $256 million. This represents a +1,880% increase compared to 2000, positioning Italy as one of the leading markets internationally.
Auctions as a Market Indicator:
Auctions are an important indicator of the contemporary art market. In 2022, Italian auctions generated a turnover of $135 million, with a +10% growth compared to the previous year.
Most Sought-After Artists:
Among the most sought-after Italian contemporary artists are:
- Giorgio de Chirico: His metaphysical paintings fetch millions. In 2022, his work “Il Gladiatore seduto” sold for $17.5 millionat auction.
- Alberto Burri: His materic canvases and his “sacchi” are highly sought after by collectors. In 2022, his work “CR 1” sold for $16.5 million at auction.
- Amedeo Modigliani: His portraits of women with the characteristic elongated necks are among the most iconic works of modern art. In 2022, his work “Tête de femme” sold for $15.9 million at auction.
- Lucio Fontana: His “cuts” on canvas revolutionized the concept of art. In 2022, his work “Concetto spaziale, Attese” sold for $12.8 million at auction.
- Piero Manzoni: His conceptual works, such as the “Merde d’artista” and the “Corpi d’aria”, are highly appreciated by collectors. In 2022, his work “Achrome” sold for $11.2 million at auction.
- Salvatore Schifano: His “Self-portrait” is an iconic work that represents his ability to capture the essence of the individual and transmit it through painting. Work: “Self-Portrait” was coming with an auction price: $7.1 million at auction.
- Giuseppe Penone: His sculptures that blend art and nature are highly sought after by the market. In 2022, his work “Foglie di bronzo” sold for $9.7 million at auction.
- Maurizio Cattelan: His provocative and iconic works, such as the “Banana” and the “Nona Ora”, have made a splash in the art world. In 2022, his work “Untitled” sold for $8.9 million at auction.
- Michelangelo Pistoletto: His mirrors and installations are among the most representative works of Arte Povera. In 2022, his work “Mettere in scena l’infinito” sold for $8.2 million at auction.
- Francesco Clemente: His figurative painting and his dreamlike landscapes are highly appreciated by collectors. In 2022, his work “Untitled” sold for $7.5 million at auction.
Where to Buy Contemporary Art in Italy:
Contemporary art can be purchased at various art galleries, auction houses, and art fairs throughout Italy. Among the most important art fairs are:
- Arte Fiera di Bologna: One of the most important contemporary art fairs in Italy, with a selection of Italian and international galleries.
- Miart a Milano: Another major art fair in Italy, dedicated to modern and contemporary art.
- The Venice Biennale: The prestigious international art exhibition that takes place every two years in Venice.
Investing in Contemporary Art:
Investing in contemporary art can be a profitable venture, but it is important to do your research and understand the risks involved. It is advisable to consult with experts and art dealers before making any investment decisions.
The contemporary art market in Italy is dynamic and constantly evolving. With its rich artistic heritage and growing international presence, Italy is a key player in the global art market.
