A new report by Artsy reveals that female artists only accounted for less than 10% of total art sold at auction in 2022, totalling $1 billion out of $11 billion. Despite the presence of women artists in art publications, exhibitions, and discussions, the art platform’s first Women Artists Market Report shows significant disparities in the industry. Of the 500 most expensive artworks sold, only 50 were created by women, with none reaching the top 50 in the most expensive category. The report also highlights Yayoi Kusama as the highest-selling female artist over the past decade, totalling $762 million, yet still far behind Pablo Picasso’s £5.1 billion sales over the same period.
The report aimed to shed light on the status of women artists in the market and was launched on International Women’s Day. Although this year’s 9.3% of overall auction sales going to female artists is an improvement from the 6% recorded from 2012 to 2022, it remains low. However, the ultra-contemporary market (1975 to present) offers hope for change, with 43.6% of artists born in and around 1975 being female and women dominating the market for artists born between 1985 and to present, accounting for over 63% of the market share. Key female figures in this market include Avery Singer and Njideka Akunyili Crosby.
The report also notes the art world’s “rediscovery” of late female artists, both institutionally and commercially, with works by Louise Bourgeois and Georgia O’Keeffe leading the trend. Art genres such as Surrealism, Abstraction, and Expressionism show strength in prices fetched for female artists. This report adds to the growing awareness of the ongoing inequality in the art industry, following the Burns Halperin report, which found that only 11% of acquisitions by US museums were by female-identifying artists and another report by Limna suggesting that female artists generate 5-15% of the NFT industry’s turnover.
Casey Lesser, Director of Content for Artsy, hopes the findings will inspire change in the industry and among collectors, promoting progress towards a more equitable art market for all.
Despite the challenges faced by female artists in the art world, the ultra-contemporary market offers a glimmer of hope. With female artists accounting for over 60% of the market share in this segment, it is clear that there is a growing recognition and appreciation for their work. The rediscovery of late female artists and the success of genres like Surrealism, Abstraction, and Expressionism further demonstrate the potential for change in the industry.
It is crucial that the art world continues to address the unequal representation of female artists and works towards creating a more diverse and inclusive industry. This can be achieved through initiatives that support female artists, showcase their work, and educate collectors about the value of their contributions to the art world.
In conclusion, the Women Artists Market Report by Artsy serves as a wake-up call for the art world, highlighting the existing disparities and the need for change. This report will inspire action and create a more equitable future for female artists in the industry.
