Guide to art auctions under $10,000

Guide to art auctions under $10,000

[19 Nov 2024]

Episode 2: - $10,000: choose a unique work or build a collection?

Artprice debunks the notion that the auction market is reserved for an elite and suggests how to make good decisions with a budget of less than $10,000. We ask, is a safe investment possible with this kind of budget? Can one build a coherent collection worthy of its name?

Today, the opportunities to acquire artworks have never been so abundant. In the immense ocean of the art auction market, where hundreds of thousands of works are sold every year, 91% are accessible at prices below $10,000. After exploring the rise of this price segment and its most active auction houses in our first episode [Purchase opportunities are growing], let's get to the heart of the matter: what can we actually do with this kind of budget?

Artprice suggests two paths. The first focuses on impact: unearthing a unique work, a trophy signed by an essential artist. The second explores the construction of a complete and coherent collection, by selecting several well-chosen pieces without the whole exceeding $10,000.

Content:

Betting on a single trophy
Building a small collection

Betting on a single trophy under $10,000

Owning a unique work is the holy grail for collectors: the assurance of having an absolutely singular work, a true treasure. Not surprisingly, paintings often captivate buyers, as they have always been considered the noblest form of artistic creation.

Between January and October 2024, Artprice identified nearly 100,000 paintings that sold at auction for under $10,000 . But in this price range, works on canvas by first-rate artists are relatively rare, although you can find works by the neo-expressionist Maximilien Luce, the Swede Bengt Lindström or even Otto Mühl, a major figure of Austrian actionism.

To access the big names with a limited budget, works on paper are a much more fertile avenue. In fact, drawing, as an artistic medium, opens new doors to the art market: every year, tens of thousands of drawings sell for prices under $10,000, with already more than 96,000 sold over the first ten months of this year.

Drawing opens new doors to the art market

At the heart of this abundant offer, one can find unique drawings by iconic artists, whether Old, Modern or Contemporary. Works on paper by Foujita, Martin Kippenberger, Marie Laurencin, Victor Brauner, Thomas Gainsborough and Le Corbusier; major creations by Chinese artists like Cai Guo-Qiang, as well as important South African figures like Peter Clarke, Irma Stern and Marlene Dumas.

This year for example, 30 works by Marlene Dumas have found buyers for under $10,000 each. Among them, a unique drawing, available in 35 variants, was sold for $8,170 at Christie's in Paris in June 2024: a bargain, knowing that Dumas' drawings usually cross the $20,000 mark. Remarkably, a variation of this drawing appears in the permanent collection of New York's MoMA. The lucky purchaser of Art is/Always/Having to Say/Goodbye thus owns a work recognized by one of the most prestigious museums in the world.

30 works by Marlène Dumas sold for under $10,000 this year:

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A Warhol or a Picasso for less than $10,000? Is it possible?

You might think giants like Pablo Picasso and Andy Warhol are out of reach? Think again! Each year, around ten small drawings by Picasso and a hundred drawings by Warhol find buyers for under $10,000 each at auction.

Purchasing a work is first of all a pleasure, if not a passion, but when it comes to the greatest signatures in art history, it is also a wise investment. A unique artwork can become a true artistic trophy, and a safe investment at the same time, especially in the case of works by iconic signatures for whom demand continues unabated. Pablo Picasso remains the top-selling artist in the world, with more than 3,500 lots sold in 2023, and Andy Warhol follows closely behind with more than 1,900 works sold.

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Building a small collection

An art collection can grow in a variety of different ways: sometimes just a random collection of favorite works, other times based on distinctly personal logic, or it may be structured into a harmonious whole, following a specific guideline that reveals specific facets of creation. Over time, it can become a genuine exploration of certain themes or medium types, where each acquisition adds to a deeper vision and enhances the buyer's expertise, whether in photography, abstract art, street art, or any other field. Indeed, a well-constructed collection becomes an artwork in itself, each piece enriching the whole.

With a budget of $10,000, one can acquire a set of around ten works that set off dialogues with each other, across various mediums. However, the field of prints distinguishes itself by the opportunities it offers: just $1,000 is enough to access creations by major names of the 20th century. Joan Miró, Alexander Calder, Jean Dubuffet and the Surrealists Max Ernst, Magritte and Dalí are all accessible in this format.

How to design a collection for less than $10,000?

To illustrate the range of possibilities, imagine fictitious collections of prints, assembled from works put on sale this year, all respecting the ceiling of $10,000. This budget makes it possible to compose a rich and coherent ensemble, around major artists, where each work tells a part of the history of artistic creation.

A tip for seizing the best opportunities: activate the Artprice alert on your favorite artists! This feature allows you to follow up to 500 artists and be informed before a work is even offered at auction. You won't miss any opportunities to enrich your collection.

A 'Made in the USA' collection

9 prints for a total of $9,490, including major Pop Art figures

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A 'Japanese Contemporaries' collection

8 prints for a total of $8,385, including Takashi Murakami (139th place in our global turnover ranking)

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With a budget of $10,000, the auction market is full of possibilities to acquire a unique and emblematic piece or build a small, harmonious collection. By letting yourself be guided by pleasure and curiosity, you can build a set which reflects your tastes and nourishes your spirit of discovery.

As Magritte said, "He who wants or seeks what he desires in painting will never find what exceeds his preferences." In short, explore without constraint: it's the best way to discover works that will exceed your expectations and enrich your passion a little more every day. We are here to help you!

affordable art - under $10,000 - tight budget - collection - Drawings