History of high value transactions of paintings

The history of expensive paintings begins with Van Gogh's " Sunflowers" in 1987.
At that time, the price was more than three times higher than the record set only two years earlier in 1985. This auction is also significant in that it was the first time that a modern painting reached a record price.

Prior to this, it had always been the old masters - artists from the 19th century or earlier - who had set the highest prices. After that, the highest-priced paintings usually went through auctions.
So, what works are fetching dizzyingly high prices?

30th-21st

No. 30, $136.7 million (about 17.99 billion yen )

JasperJohns｜Flag, 1958
Year of sale: March 2010
Auction house: Private sale (estimated amount)

29th $138 million (approx. 18.16 billion yen)

Paul Cezanne｜Montagne Saint-victoire, 1904 - 1906
Year of sale: November 2022
Auction house: Christie's

28th $139 million (about 18.29 billion yen)

Amedeo Modigliani｜Reclining Nude on Blue Cushion, 1916
Year sold: 2012
Auction house: Private sale by Yves Bouvier

27th $139.6 million (18.37 billion yen )

Paul Gauguin｜Otahi, 1893
Year of sale: 2013
Auction house: Private sale by Yves Bouvier

26th $141.5 million (about 18.62 billion yen)

Edvard Munch｜The Scream, 1893
Year of sale: 2012
Auction house: Sotheby's

25th place: $149.2 million (about 19.63 billion yen)

Georges Seurat｜The Three Models, 1886
Year of sale: November 2022
Auction house: Christie's

No.24 $149.4 million (about 19.66 billion yen)

Pablo Picasso｜Garçon à la pipe, 1905
Year of sale: May 2004
Auction house: Sotheby's

23rd $155.7 million (approx. 20.49 billion yen)

Twelve Landscape Screens , 1925
Year of sale: December 2017
Auction house: Beijing Poly Auction

No. 22, $162 million (approx. ¥21.32 billion)

Pierre-Auguste Renoir｜Bal du moulin de la Galette, 1876
Year of sale: May 1990
Auction house: Sotheby's

No. 21, $165.7 million (approx. 21.8 billion yen )

Francis Bacon｜Three Studies of Lucian Freud, 1969
Year of sale: December 2013
Auction house: Christie's

How were the works ranked from 30th to 21st? Most of them were paintings by 20th century artists. Many of the paintings were by famous artists that everyone knows. It is surprising that famous works such as Munch's "The Scream" are in the top 20! Some of you may be surprised to see famous works such as Munch's "The Scream" in the top 20.
Let's look further!

20th to 11th place

No. 20 $169.4 million (approx. 22.29 billion yen )

Gustav Klimt｜Portrait of Adele Bloch-Bauer II, 1912
Year sold: 2016
Auction house: private sale by Larry Gagosian

No. 19, $169.6 million (approx. ¥22.32 billion)

Amedeo Modigliani | Nu couché (sur le côté gauche), 1917
Year sold: 2018
Auction house: Sotheby's

No. 18, $171.1 million (approx. ¥22.52 billion)

Portrait of Dr. Gachet, 1890
Year of sale: 1990
Auction house: Christie's


No. 17, $180.3 million (Approx. 23.73 billion yen)

Le Rêve, 1932
Year of sale: 2013
Auction House: Private Sales

16th $181.5 million (approx. 23.88 billion yen)

Gustav Klimt｜Portrait of Adele Bloch-Bauer I, 1907
Year of sale: 2006
Auction house: Private sale via Christie's

15th $182.4 million (approx. 24 billion yen )

Roy Lichtenstein｜Masterpiece, 1962
Year of sale: 2017
Auction house: private sale

No. 14, $184.8 million (approx. 24.32 billion yen)

Willem de Kooning｜Woman III, 1953
Year of sale: 2006
Auction house: Private sale by Larry Gagosian

No. 13: $188.2 million (approx. 24.77 billion yen)

Jackson Pollock｜No. 5, 1948
Year of sale: 2006
Auction house: Private sale by Sotheby's

No. 12, $194.8 million (about 25.64 billion yen)

Amedeo Modigliani｜Nu couché, 1917
Year of sale: 2015
Auction house: Christie's

No. 11, $195 million (approx. 25.66 billion yen)

Andy Warhol｜Shot Sage Blue Marilyn, 1964
Year of sale: May 2022
Auction house: Christie's

In the top ten, several works by Gustav Klimt andAmedeo Modigliani were ranked in the top ten. The high popularity and appreciation of these works is evident. The well-known Picasso and others also had their second works ranked. Andy Warhol, the master of Pop Art, also came out.
Finally, next up we have a single-digit piece!

10th to 6th place

No. 10, $198 million (about 26.06 billion yen )

Rembrandt van Rijn｜The Standard Bearer, 1636
Year of sale: February 2022
Auction house: Private sale

9th $205 million (about 26.98 billion yen)

Les Femmes d'Alger (Version O), 1955
Year sold: May 2015
Auction house: Christie's

8th $206 million (Approx. 27.1 billion yen )

Rembrandt van Rijn｜Pendant portraits of Maerten Soolmans and Oopjen Coppit, 1634
Year of sale: February 2016
Auction house: private sale

No. 7 $213 million (approx. ¥28.03 billion)

Mark Rothko｜No. 6 (Violet, Green and Red), 1951
Year sold: 2014
Auction house: Private sale by Yves Bouvier

No. 6, $213.8 million (approximately 28.14 billion yen)

Gustav Klimt, Water Serpents II, 1904 - 1907
Year of sale: 2013
Auction house: Private sale

Here we finally have an Old Master Rembrandt in the ranks! Picasso and Klimt still come up again and again.
Paintings like this one are worth tens of billions of yen! Mark Rothko, who is often talked about, also appears.
Here are the top of the list!

5th - 2nd

No. 5 $229 million (approx. 30.14 billion yen )

Jackson Pollock｜Number 17A, 1948
Year sold: 2015
Auction house: Private sale

4th place: $240 million (about 31.58 billion yen)

Paul Gauguin｜When Will You Marry?
Year of sale: 2014
Auction house: Private sale

3rd $301 million (Approx. 39.61 billion yen)

Paul Cézanne｜The Card Players, 1894 - 1895
Year of sale: 2011
Auction house: Private sale

2nd place: $343 million (approx. 45.14 billion yen)

Willem de Kooning｜Interchange, 1955
Year of sale: 2015
Auction house: private sale

Finally we come to the highest priced work ever sold. The most expensive painting ever sold...!

1st place

1st place: 497.8 million dollars (about 65.5 billion yen )

Leonardo da Vinci｜Salvator Mundi, 1499 - 1510
Year of sale: November 2017
Auction house: Christie's

This was Leonardo da Vinci, familiarly known for his "Mona Lisa.
Surprisingly, Van Gogh's "Sunflowers," which triggered the high price of the painting, did not rank in the top 30. And the highest price ever paid for a painting was still a dizzying figure.


*Note that the dollar prices are adjusted to those as of 2023. Exchange rates are as of January 12, 2023.

References