Lena Rivera
Jackson Pollock is one of the most influential figures of the mid-20th century, best known for his 'drip' paintings. His works have sold for some of the highest prices ever recorded for paintings, with his masterpiece Number 5 (1948) selling for a record-breaking $140 million in 2006. Pollock's paintings are increasingly recognised as invaluable investment pieces, with their value only increasing in the decades since his untimely death in 1956. This paragraph will explore the highest prices paid for Pollock's paintings and examine the factors contributing to their extraordinary value.
| Characteristics | Values |
|---|---|
| Name of Painting | Number 5, 1948 |
| Year of Painting | 1948 |
| Year Sold | 2006 |
| Selling Price | $140 million |
| Record | Highest price ever paid for a painting at the time of sale |
| Previous Owner | David Geffen |
| New Owner | David Martinez |
| Medium | Fibreboard |
| Paint | Liquid synthetic resin paints (gloss enamel) |
| Colours | Yellow, brown, white and grey |
| Size | 8' x 4' |
| Style | Drip painting |
| Reference in Pop Culture | The Stone Roses' song "Going Down" |
| Reference in Cinema | Ex Machina (2015) |
| Other Expensive Paintings by Jackson Pollock | Number 17A, Number 17 |
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What You'll Learn
- Jackson Pollock's Number 5 painting sold for $140 million in 2006
- Number 17A is Pollock's most expensive painting, selling for $200 million in 2015
- Pollock's works are increasingly sought-after investment pieces
- 'Number 17A' is recognised as one of Pollock's masterpieces
- Pollock's works have sold for some of the highest prices ever recorded for paintings
Jackson Pollock's Number 5 painting sold for $140 million in 2006
Jackson Pollock is a prominent figure in the Abstract Art movement, best known for his 'drip' paintings. His works are highly regarded in the art world, with original Pollock paintings selling at auction for millions of dollars.
Number 5, also known as No. 5, 1948, is a painting created by Jackson Pollock that exemplifies the intertwining of economics and creativity in the art world. The painting's ability to captivate buyers and critics alike has helped establish Pollock as a pivotal figure in 20th-century art. On May 22, 2006, Number 5 was sold privately for $140 million, setting a new record for the highest price ever paid for a painting at the time. This record stood for five years until it was surpassed in April 2011.
The painting's high valuation can be attributed to its journey through the art market and the artist's biography. Number 5 was initially sold in 1949 for a mere $1,500. However, after the paint suffered damage and began to fall off, Pollock repainted the entire piece, adding repairs and layers of new paint. This unique history contributed to the intrigue and value of the artwork.
Measuring 8 feet by 4 feet, Number 5 was painted on fibreboard with liquid synthetic resin paints, also known as gloss enamel, and classified as oil paint. The painting features densely layered shades of yellow, brown, white, and grey, creating a complex composition that captivates viewers and invites exploration of its intricate layers.
The sale of Number 5 for $140 million highlights the competitive nature of the elite art market and underscores the recognition of Pollock's works as invaluable investment pieces. The buyer of Number 5 was David Martinez, managing partner of Fintech Advisory Ltd, and the seller was David Geffen, founder of Geffen Records and co-founder of DreamWorks SKG.
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Number 17A is Pollock's most expensive painting, selling for $200 million in 2015
Number 17A, an abstract expressionist painting by Jackson Pollock, is the artist's most expensive painting to date. It was sold in September 2015 for a record-breaking price of $200 million. The painting, created in 1948, is oil on fiberboard and is a good example of Pollock's famous drip painting technique. The abundance of paint creates a complex colour vortex, with smudges of yellow, blue, and black on the fiberboard softening the image, while three nearly parallel white brushstrokes draw our attention diagonally.
The painting was initially unpopular, receiving great public scrutiny, and was featured in a 1949 Life magazine article that questioned whether Pollock was "the greatest living painter in the United States". This feature helped make Pollock a household name and celebrity, and the painting's historical significance likely contributed to its high sale price. The buyer of Number 17A was hedge fund manager Kenneth C. Griffin, who purchased it from entertainment mogul David Geffen.
At the time of its sale in 2015, Number 17A was one of the most expensive paintings ever sold. While it may have since been surpassed in price, it remains a significant work by Jackson Pollock, showcasing his unique style and technique. The painting's vibrant colours and expressive brushstrokes exemplify Pollock's abstract expressionist style, which continues to captivate art enthusiasts worldwide.
The high value of Jackson Pollock's paintings is further evidenced by the insurance value of his work. For example, Blue Poles, painted in 1952 and owned by the National Gallery of Australia, is said to have an insurance value of 350 million Australian dollars. This demonstrates the enduring value and popularity of Pollock's artwork, which has only increased over time.
In summary, Number 17A is Jackson Pollock's most expensive painting to date, selling for a record-breaking $200 million in 2015. Its historical significance, unique style, and association with Pollock's celebrity status likely contributed to its high price. The painting remains an important work in the history of abstract expressionism and a testament to Pollock's enduring legacy in the art world.
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Pollock's works are increasingly sought-after investment pieces
Jackson Pollock's paintings have become increasingly sought-after investment pieces, with his works frequently fetching staggering sums at auction, often sailing above thirty million dollars. The record price for a Pollock painting was set by "Number 17A, 1948", which sold for $200 million in 2015. This sale highlighted the soaring value of Pollock's work and set an unprecedented record at the time.
So, what makes Pollock's works so desirable as investments? Firstly, scarcity plays a crucial role in driving up prices. Pollock's artistic journey was marked by a relatively brief period of intense creativity, resulting in a limited supply of his original paintings. This rarity, combined with the unique circumstances surrounding his works, creates an inherent scarcity that fuels demand. The recognition of his influence and the prestige of owning a piece of art history amplify the allure of his works, making them coveted treasures.
The size of Pollock's paintings is another factor in their investment potential. Larger works may command higher prices due to their visual impact and the greater amount of material and labour invested in their creation. Additionally, the condition of the painting is significant, with well-preserved pieces that require minimal restoration naturally holding more appeal for collectors. Historical relevance is also key; pieces created during pivotal moments in Pollock's career, such as "Number 17A, 1948", which earned him fame and celebrity, are more likely to be valued highly.
Furthermore, Pollock's works have a broad appeal that transcends the traditional boundaries of the art world. The recognition from influential figures and the merging of art and pop culture have introduced his work to new audiences, creating a surge in public awareness and curiosity. This convergence of interests has led to a virtuous cycle of demand, with headlines about record-breaking sales attracting even more interest from art enthusiasts, collectors, and investors.
Lastly, Pollock's innovative drip painting technique and his role in the abstract expressionism movement have cemented his place as a pivotal figure in modern artistry. His works are celebrated in prestigious exhibitions worldwide, highlighting their aesthetic value and cultural importance. Collectors are drawn to the combination of artistic legacy and the broader historical narrative of post-war America, where his pieces emerged as symbols of freedom and individual expression. Thus, investing in a Pollock painting is not merely about financial gain; it is also about owning a piece of art history that reflects the complexities of modern existence.
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'Number 17A' is recognised as one of Pollock's masterpieces
Number 17A, created in 1948, is recognised as one of Jackson Pollock's masterpieces. It is a vibrant and colourful painting, with a unique composition that showcases a vivid array of primary colours—red, yellow, and blue—intermingled with intricate layers of black and white. The painting is a drip painting, created by splashing paint onto a horizontal surface, and is characterised by Pollock's evolving style, with three nearly-parallel white brushstrokes that stand out against the chaotic dance of colours.
Measuring 44 x 34 inches, Number 17A is painted in oil on fibreboard. It was created a year after Pollock introduced his famous drip technique, and it is considered a good example of this style. The abundance of paint creates a complex colour vortex, with top and bottom layers that are impossible to differentiate. The smudges of yellow, blue, and black on the fibreboard help to soften the image, while the white brushstrokes grab our attention and direct our gaze diagonally up the painting.
The history of Number 17A and its impact on Pollock's career are also significant factors in its recognition as a masterpiece. The painting was featured in the August 1949 edition of Life magazine, which played a crucial role in establishing Pollock as a leading figure in the Abstract Expressionist movement. This exposure helped to make Pollock a household name and forever changed the landscape of modern art. The painting's journey through the art market and its record-breaking sale price of $200 million in September 2015 further highlight its importance and value.
Number 17A is currently owned by billionaire hedge fund manager Kenneth C. Griffin, who acquired it from entertainment mogul David Geffen. The exchange exemplifies the competitive nature of the elite art market, where Pollock's works are increasingly recognised as invaluable investment pieces. The high value of Number 17A and other Pollock paintings raises intriguing questions about the cultural and financial dynamics at play in contemporary art and the evolving nature of art valuation.
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Pollock's works have sold for some of the highest prices ever recorded for paintings
Jackson Pollock is widely recognised as one of the most influential figures in 20th-century art. His paintings, known as 'drip paintings', pioneered a new era of abstract art, specifically Abstract Expressionism. Pollock's works have sold for some of the highest prices ever recorded for paintings, with his paintings Number 5 and Number 17A selling for astronomical sums.
Number 5, created in 1948, was sold on 22 May 2006 for $140 million, setting a new record for the highest price ever paid for a painting. The painting, created on fibreboard, features densely layered shades of yellow, brown, white and grey. Pollock's innovative use of liquid synthetic resin paints, or 'oil paints', as they were classified, resulted in a captivating "dense bird's nest" effect. The sale of Number 5 marked a pivotal moment in the art market, highlighting the soaring value of Pollock's work.
Number 17A, created in 1948, is another of Pollock's masterpieces that shattered records and redefined art valuation. This vibrant and colourful painting sold for an astonishing $200 million in September 2015. Number 17A's unique composition and swirling blend of chaos and control encapsulate the essence of abstract expressionism, elevating it beyond mere canvas and colour. The painting's impact catapulted Pollock into the limelight, featuring prominently in a 1949 issue of Life magazine.
Beyond these two iconic works, other Pollock pieces have also fetched remarkable prices. Number 17, created in 1951, sold for $61.1 million in 2021. Additionally, his final painting, The Deep, is estimated to be worth $27.7 million. Pollock's works are not only cherished for their artistic merit but also for their financial potential as invaluable investment pieces.
The value of Pollock's art extends beyond monetary terms. His paintings reflect the triumphs and values of America and have become an undeniable part of art history. Pollock's influence over the Abstract Expressionist movement and his tragic death in a car accident have further driven the demand for his authentic works. Pollock's legacy continues to grow, and his works remain among the most expensive pieces in the modern art market.
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Frequently asked questions
The highest price paid for a Jackson Pollock painting was for 'Number 5', which sold for $140 million in 2006.
'Number 17A' is the second-highest-selling Jackson Pollock painting. It was sold for $200 million in 2015.
Jackson Pollock's 'Number 5' painting measures 8 feet by 4 feet.
Jackson Pollock is known for his 'drip' paintings, which are considered a form of abstract expressionism.
Jackson Pollock used liquid household paint in his paintings, including synthetic resin paints (gloss enamel) and oil paints. He also incorporated everyday materials such as sand, broken glass, and nails.
