Picasso Ceramics. Two words that are causing buyers and sellers in this ever evolving art market to be incredibly pleased. Rising in demand the past few years, the Picasso ceramic market is one of the strongest out there. For evidence simply look at Christie’s two-day auction of Picasso Ceramics: The Madoura Collection that occurred in June 2012. The auction offered 543 lots, not all of them ceramics, but had a 100% realization. The total amount was $12,584,141, more than four times the pre-sale expectations $4,064,908.
The top lot of the Christie’s sale broke a world record price for a Picasso ceramic at auction, as Grand vase aux femmes voiles, 1950 sold for $1,145,407. A first for a Picasso ceramic produced in multiples to command more than a million dollars at auction. The previous world record price of $414,073 was set in December 2010 for Grand vase aux danseurs. What a difference a few years make huh?
Although the Christie’s sale and other notable auctions were critical to raising the profile of Picasso’s ceramics, other factors should not be overlooked. Prominent shows at museums and galleries, the media picking up interesting stories surrounding the works, and the dealers and collectors who have cherished the editions since they were issued have made a difference, too.
The Picasso ceramic market as it stands now is dominated by two types of private buyers: wealthy professionals based in the UK who buy at the middle and lower range and the multi-million-dollar clients abroad who spend vast sums. As for the trade, only a handful of galleries worldwide specialize in Picasso ceramics, so participation at auction is minimal and finding quality pieces are difficult unless you have our amazing inventory to choose from.