Renowned contemporary artist David Hockney (1937–2026) passed away on June 11 at the age of 88, prompting global auction houses to spotlight his works. Auction houses in South Korea and abroad are showcasing Hockney's pieces as they gauge potential market reactions.
According to the auction industry on June 17, Seoul Auction will feature Hockney's "The Atelier, March 17th 2009" in its 193rd art auction on June 23. The estimated price is between 30 million and 80 million won. As an edition piece, it is priced relatively lower than original works, making it appealing to new collectors.
Seoul Auction emphasized the significance of this piece as it marks the first appearance of a Hockney work in a domestic auction since his passing. The artwork, created before his iPad drawing series, combines inkjet computer drawing and photo collage. It encapsulates decades of portraiture centered around his studio.
A representative from Seoul Auction stated, "Given that this is the first work by the artist to be auctioned in Korea since his passing, we expect it to serve as a benchmark for market reactions. Original works are rarely available in domestic auctions due to their high prices, but edition pieces are consistently traded."
Hockney's works are also gaining attention in the international auction market. Phillips Auction will present "The Only One with Waves (1991)" as a highlight of its modern and contemporary art auction in London on June 26. The estimated price ranges from £1.8 million to £2.5 million (approximately 3.68 billion to 5.11 billion won). This piece represents a pivotal moment in Hockney's transition from figurative to abstract art, painted shortly after he established his home in Malibu. It captures the movement of the sea with Hockney's signature kaleidoscopic colors, reflecting his frequent theme of water.
Interest in Hockney's works is expected to rise further in the art market. He has maintained a solid demand over the years, and significant pieces rarely come to market. Even during the downturn following the 2010 global financial crisis, demand for Hockney's works remained steady, solidifying his status as a blue-chip artist.
While many works traded in the market are editions, original paintings are notably scarce. Following his passing, this scarcity is anticipated to deepen. In 2018, Hockney's 1972 work "Portrait of an Artist" sold for $90.3 million at a Christie’s auction in New York, setting a record for the highest price for a living artist at that time.
* This article has been translated by AI.
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