Get two issues of Forbes for FREE! Help | Connect | Sign up | Log in Most Read on Forbes INVESTING | 4/26/2013 @ 6:11PM | 716 views Top Selling Artists at Auction in Miró A photographer looks at Pablo Picasso's 'Deux nus couches' at Christie's auction house in Hong Kong on April 2, 2012. (Image credit: AFP/Getty Images via @daylife) Pablo Picasso was the top selling artist at auction by value in the first quarter of 2013 with sales of $87.6 million, according to a recent artnet ($44.9 million), Joan Miró ($44.3 million), Amedeo Modigliani ($43.1 million), Jean- Michel Basquiat ($42.3 million), Francis Bacon ($36.8 million), Claude Monet ($30.2 million), René Magritte ($29.2 million), Egon Schiele ($28.0 million) and Pierre-Auguste Renoir ($22.2 million). Plenty of the same names that populated last year's list pop up again, although Andy Warhol didn't make the top 10 in the first quarter, after finishing 2012 at the top of artnet's ranking with $380.5 million of sales. Nor did any Chinese artists make the top 10, when Qi Baishi, Zhang Daqian and Li Keran all featured in the full year 2012 results. Obviously, you can't read too much into quarterly results, particularly when the sale of just one multi- million dollar painting can assure a high ranking, which is the certainly true of Modigliani after his portrait of Jeanne Hebuterne sold for $42 million at Christie's in London this February. That's clearly not the case for Picasso, though. Over 2,700 of his art works changed hands at auction last year, while 645 of his works sold in the last quarter, NEWS People Places Companies Follow(50) Kathryn Tully, Contributor I write about art and investing China Brings Down Global Art Market In Q1 But U.S. And Europe Feed The Bulls Agustino Fontevecchia Forbes Staff Review: Samsung Galaxy S4 Is Kitchen Sink Of Smartphones+197,758 views Is The iPhone 5S Fingerprint Reader Worth The Wait?+80,642 views Samsung's Galaxy S4 Display Catches Up With iPhone Retina+65,749 views 'Game Of Thrones' Season 3 Episode 5 Review: 'Kissed By Fire'+60,145 views The 10 Happiest Cities For Young Professionals+49,644 views 33 186 13 0 0 Comment Now Follow Comments New Posts Most Popular Lists Video Search companies, people and lists Page 1 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... Best Cell Phone Plans Smartphone Reviews Popular Smartphone Prices High Speed Internet Top Internet Plans Latest Smartphones No Contract Cell Phones Wireless Networking See Also: Follow On Forbes Keep up with the writers, people, places, companies and organizations that interest you. Sign up now ? The author is a Forbes contributor. The opinions expressed are those of the writer. Who Just Made a Billion Dollars? Our Real-Time Billionaires scoreboard tracks the biggest holdings for 50 of the world's wealthiest people. See who's up & who's down right now ? according to artnet. This doesn't even take into account private sales, such as the sale of Le Rêve by Steve Wynn to Steven Cohen for $155 million earlier this year. While the sale of paintings like this and Femme assise près d'une fenêtre that sold for for $45 million at Sotheby's this February make the headlines, Picassos are popular at many different price levels and in different media. Does this mean that Picasso is a great investment? Not necessarily. For example, a March Report from Beautiful Asset Advisors, using data from the Mei Moses family of art indices, showed that Picasso's Nature Morte Aux Tulipes, which sold for $41.5 million in November 2012, produced a compound annual return of 3% for the seller, who bought it for $28.6 million in 2000. That's not bad on the face of it, given the time period involved, but it doesn't take into account transaction costs, or storage, insurance or other ongoing costs. There are more Picassos coming to auction in the New York Impressionist and Modern Art sales in a couple of weeks, so watch this space. Follow me on Twitter or find me on Facebook. Print Report Corrections Reprints & Permissions From Around the Web Kathryn Tully Contributor Follow(50) I've worked as either a journalist, editor or columnist for 15 years and I write about art, investing, and where those two worlds collide. Words I've put in a row have appeared in the Financial Times, where I'm a long-standing contributor, The Economist and The Times of London, among others. My articles cover everything plenty of KATHRYN TULLY'S POPULAR POSTS The Steady Rise Of Fine Art Photography 11,640 views Could Fine Art And Collectibles Become A New Asset Class? 5,325 views Is Your Art An Investment? 5,301 views Eight Tips for Would-Be Art Investors 2,998 views Three Things for Art Buyers and Sellers to Consider in 2013 2,914 views MORE FROM KATHRYN TULLY Warhol, Picasso And Richter Top- Selling Artists For 2012 Lynn Douglass Contributor Forget Richter, Warhol and Picasso: Where Are All the Women? Kathryn Tully Contributor 33 186 13 0 0 Comment Now Follow Comments New Posts Most Popular Lists Video Search companies, people and lists Page 2 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... Inside Forbes ADVERTISER VIDEO How to Exercise Your Brain to Make It Strong Why You Should Stop Using Shampoo Where to Find New iPads for Under $40 New Tech Lets You Learn a Language in 10 Days How Cruise Lines Fill All Those Unsold Cruise Cabins How Small Investors are Making Huge Returns Trading How to Speed Up Your PC - Tricks Manufacturers Hate Billionaires Dump Stocks. Prepare For Unthinkable. Enter Your Comment Post Your Comment Please log in or sign up to comment. Forbes writers have the ability to call out member comments they find particularly interesting. Called-out comments are highlighted across the Forbes network. You'll be notified if your comment is called out. With $119 billion between them, these 29 billionaires under 40 years old have it made. see photos The 29 Youngest Billionaires: World's Richest Under 40 Payback Is Sweet: iPhone Hacker Gets Gig At Google How Wal-Mart Can Win The Online Retail Battle Against Amazon America's Richest Counties: Beltway Takes Six Out Of 10 Real-Time Billionaires New Posts Most Popular Lists Video Search companies, people and lists Page 3 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... 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Get two issues of Forbes for FREE! Help | Connect | Sign up | Log in Most Read on Forbes INVESTING | 4/26/2013 @ 6:11PM | 716 views Top Selling Artists at Auction in Miró A photographer looks at Pablo Picasso's 'Deux nus couches' at Christie's auction house in Hong Kong on April 2, 2012. (Image credit: AFP/Getty Images via @daylife) Pablo Picasso was the top selling artist at auction by value in the first quarter of 2013 with sales of $87.6 million, according to a recent artnet ($44.9 million), Joan Miró ($44.3 million), Amedeo Modigliani ($43.1 million), Jean- Michel Basquiat ($42.3 million), Francis Bacon ($36.8 million), Claude Monet ($30.2 million), René Magritte ($29.2 million), Egon Schiele ($28.0 million) and Pierre-Auguste Renoir ($22.2 million). Plenty of the same names that populated last year's list pop up again, although Andy Warhol didn't make the top 10 in the first quarter, after finishing 2012 at the top of artnet's ranking with $380.5 million of sales. Nor did any Chinese artists make the top 10, when Qi Baishi, Zhang Daqian and Li Keran all featured in the full year 2012 results. Obviously, you can't read too much into quarterly results, particularly when the sale of just one multi- million dollar painting can assure a high ranking, which is the certainly true of Modigliani after his portrait of Jeanne Hebuterne sold for $42 million at Christie's in London this February. That's clearly not the case for Picasso, though. Over 2,700 of his art works changed hands at auction last year, while 645 of his works sold in the last quarter, NEWS People Places Companies Follow(50) Kathryn Tully, Contributor I write about art and investing China Brings Down Global Art Market In Q1 But U.S. And Europe Feed The Bulls Agustino Fontevecchia Forbes Staff Review: Samsung Galaxy S4 Is Kitchen Sink Of Smartphones+197,758 views Is The iPhone 5S Fingerprint Reader Worth The Wait?+80,642 views Samsung's Galaxy S4 Display Catches Up With iPhone Retina+65,749 views 'Game Of Thrones' Season 3 Episode 5 Review: 'Kissed By Fire'+60,145 views The 10 Happiest Cities For Young Professionals+49,644 views 33 186 13 0 0 Comment Now Follow Comments New Posts Most Popular Lists Video Search companies, people and lists Page 1 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... Best Cell Phone Plans Smartphone Reviews Popular Smartphone Prices High Speed Internet Top Internet Plans Latest Smartphones No Contract Cell Phones Wireless Networking See Also: Follow On Forbes Keep up with the writers, people, places, companies and organizations that interest you. Sign up now ? The author is a Forbes contributor. The opinions expressed are those of the writer. Who Just Made a Billion Dollars? Our Real-Time Billionaires scoreboard tracks the biggest holdings for 50 of the world's wealthiest people. See who's up & who's down right now ? according to artnet. This doesn't even take into account private sales, such as the sale of Le Rêve by Steve Wynn to Steven Cohen for $155 million earlier this year. While the sale of paintings like this and Femme assise près d'une fenêtre that sold for for $45 million at Sotheby's this February make the headlines, Picassos are popular at many different price levels and in different media. Does this mean that Picasso is a great investment? Not necessarily. For example, a March Report from Beautiful Asset Advisors, using data from the Mei Moses family of art indices, showed that Picasso's Nature Morte Aux Tulipes, which sold for $41.5 million in November 2012, produced a compound annual return of 3% for the seller, who bought it for $28.6 million in 2000. That's not bad on the face of it, given the time period involved, but it doesn't take into account transaction costs, or storage, insurance or other ongoing costs. There are more Picassos coming to auction in the New York Impressionist and Modern Art sales in a couple of weeks, so watch this space. Follow me on Twitter or find me on Facebook. Print Report Corrections Reprints & Permissions From Around the Web Kathryn Tully Contributor Follow(50) I've worked as either a journalist, editor or columnist for 15 years and I write about art, investing, and where those two worlds collide. Words I've put in a row have appeared in the Financial Times, where I'm a long-standing contributor, The Economist and The Times of London, among others. My articles cover everything plenty of KATHRYN TULLY'S POPULAR POSTS The Steady Rise Of Fine Art Photography 11,640 views Could Fine Art And Collectibles Become A New Asset Class? 5,325 views Is Your Art An Investment? 5,301 views Eight Tips for Would-Be Art Investors 2,998 views Three Things for Art Buyers and Sellers to Consider in 2013 2,914 views MORE FROM KATHRYN TULLY Warhol, Picasso And Richter Top- Selling Artists For 2012 Lynn Douglass Contributor Forget Richter, Warhol and Picasso: Where Are All the Women? Kathryn Tully Contributor 33 186 13 0 0 Comment Now Follow Comments New Posts Most Popular Lists Video Search companies, people and lists Page 2 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... Inside Forbes ADVERTISER VIDEO How to Exercise Your Brain to Make It Strong Why You Should Stop Using Shampoo Where to Find New iPads for Under $40 New Tech Lets You Learn a Language in 10 Days How Cruise Lines Fill All Those Unsold Cruise Cabins How Small Investors are Making Huge Returns Trading How to Speed Up Your PC - Tricks Manufacturers Hate Billionaires Dump Stocks. Prepare For Unthinkable. Enter Your Comment Post Your Comment Please log in or sign up to comment. Forbes writers have the ability to call out member comments they find particularly interesting. Called-out comments are highlighted across the Forbes network. You'll be notified if your comment is called out. With $119 billion between them, these 29 billionaires under 40 years old have it made. see photos The 29 Youngest Billionaires: World's Richest Under 40 Payback Is Sweet: iPhone Hacker Gets Gig At Google How Wal-Mart Can Win The Online Retail Battle Against Amazon America's Richest Counties: Beltway Takes Six Out Of 10 Real-Time Billionaires New Posts Most Popular Lists Video Search companies, people and lists Page 3 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-... Channels Business Investing Technology Entrepreneurs Op/Ed Leadership Lifestyle Lists Company Info Forbes Careers Advertising Information Forbes Conferences Investment Newsletters Reprints & Permissions Terms and Conditions Privacy Statement Contact Us Sitemap Help Affiliate Sites Forbes China Forbes India Forbes Israel Forbes Mexico Forbes Middle East Forbes Poland Forbes Romania Forbes Russia Forbes Ukraine RealClear Politics RealClear Markets RealClear World RealClear Sports Data Partners Market Data by Morningstar Thomson Reuters AdChoices Publications Free Trial Issue Subscriber Services Buy Back Issues 2013 Forbes.com LLC? All Rights Reserved New Posts +4 posts this hour Most Popular Most Reputable Companies Lists The Global 2000 Video Hip-Hop's Wealthiest Search companies, people and lists Page 4 of 4 Top Selling Artists at Auction in First Quarter: Picasso, Richter, Miró - Forbes 4/29/2013 http://www.forbes.com/sites/kathryntully/2013/04/26/top-selling-artists-at-auction-in-first-...