How is an artist's ranking established?

An artist’s ranking is influenced by several factors that interact and enhance the perceived value of their artistic work. Here are the 6 main factors to consider:

1 - Public Sales

The results of public sales are a key reference for judging an artist's value. Major auction houses like Sotheby’s and Christie’s publish hammer prices, creating a usable database.

Example: Jean-Michel Basquiat saw his ranking soar between 2010 and 2020 after several consecutive records at auction, notably the sale of Untitled (1982) for $110.5 million at Sotheby’s in 2017.

2 - Demand and Rarity

An artist whose works are rare but highly sought after will see their ranking rise over time.

Example: Banksy, a street artist, owes part of his high ranking to the rarity of his works available on the market, some of which are painted directly on walls and thus non-marketable.

3 - Artistic Career and Institutional Recognition

Exhibiting in prestigious museums and institutions such as MoMA, Centre Pompidou or Tate Modern gives the artist legitimacy and boosts their market value.

Example: Yayoi Kusama and her immersive exhibitions, which attract millions of visitors to major museums, have significantly increased her international recognition and ranking.

4 - Influential Galleries and Dealers

Being represented by renowned galleries like Gagosian or David Zwirner ensures visibility for the artist and promotes their works.

Example: Damien Hirst, propelled by the White Cube gallery, saw his career explode thanks to innovative marketing strategies.

5 - Publications and Criticism

An artist's presence in specialized journals like Apollo, ARTnews and Connaissance des Arts or in monographs published by renowned publishers like Taschen and Phaidon validates the artist's place in the market.

In parallel, the publication of a quality catalogue raisonné is a major asset to ensure the credibility and value of the artist’s works.

6 - Influential Collectors and Patrons

Major collectors like François Pinault or Bernard Arnault have the ability to boost an artist’s ranking by including their works in their collections.

The purchase of an artist's works by a prominent collector or foundation can trigger a surge in demand and a significant rise in their ranking.

Why is an artist's ranking important?

An artist's ranking plays a central role at several levels:

• For collectors and investors: It helps identify investment opportunities and anticipate the potential value increase of a work.
• For artists: A well-established ranking can lead to price increases and new collaboration opportunities.
• For art professionals: It helps position an artist in the market and justify certain valuation strategies.

What resources are available to learn about an artist's ranking?

There are several resources to assess an artist's ranking:

• Specialized databases: Artprice, Artnet, and Artfacts list auction sales and rank artists.
• Market reports: The Art Market Report (Art Basel & UBS), Hiscox Online Art Trade Report, and TEFAF Art Market Report provide analyses of art market trends.
• Catalogues Raisonnés: Reference works that list all known works of an artist and certify their authenticity, making the market more transparent and secure.
• Specialized guides: Akoun publishes its annual La cote des artistes guide, offering clarity on an artist’s ranking.
• Auction houses and experts: An auctioneer or independent expert can provide an estimated value range for a work.
• Art Shortlist: Our art experts can provide you with a quick and accurate appraisal via a dedicated form.

Conclusion

An artist’s ranking is a complex process influenced by many interconnected factors.

For buyers, understanding these mechanisms allows for informed choices and relevant investments.

For artists, achieving a ranked status represents institutional validation and a springboard to wider recognition.

At Art Shortlist, we guide you through the art market by providing in-depth analysis and personalized advice.

Art Shortlist offers free estimates to collectors and artists wishing to know the value of their works. Simply fill out the dedicated form on our platform to receive a reliable and detailed estimate. Here