The new investment for an Alex Katz artwork closed at €510,175 through contemporary art transactions at Sotheby’s auction house, confirming Katz’s upward trajectory in recent years.
Specifically, the work titled “Yvonne in Green” (oil on canvas measuring 122.3×182.5cm) was initially estimated at £200,000 (€230,330), however it more than doubled the low estimate. The final sale price was driven by the work’s date (1995), the fact that it is a representative example of the artist’s work, and the subject matter featuring Yvonne.
Art market: Yvonne in Alex Katz works brings profits over €500,000
Yvonne, the blonde woman depicted in this particular painting, as well as in numerous other works by Alex Katz, is not a random person. She is Yvonne Force Villareal, a significant personality in the art world, known as a curator, collector and leader in the public art market space. She was the founder of the Art Production Fund, a non-profit organization dedicated to supporting and producing artworks.
Alex Katz’s record in the art market
The first time Katz’s work exceeded the $1 million threshold was in 2019, when the artist was 92 years old. His auction record dates from the same year for a portrait of a woman under a blue umbrella – Blue Umbrella I (1972) – which sold for $4.1 million at Phillips in London.
