Contemporary Art Auctions Sotheby's mention in a recent article that contemporary art sales are reaching the heights previously only reserved for impressionist and modern paintings. Recently departed and living artists are now frequently reaching prices above $10 million at auction.
In the recent May sales by the big three auction houses (Christie's, Sotheby's and Phillips) there was a total of $432,080,560 worth of contemporary art sold. That's $432 million! I wouldn't know how to count that high!

Top Ten Contemporary art sales in May

• $15,696,000 Willem de Kooning, Untitled XVI
• $15,696,000 Roy Lichtenstein, Sinking Sun
• $11,776,000 Andy Warhol, Small Torn Campbell's Soup Can (Pepper Pot)
• $10,096,000 Willem de Kooning, Untitled
• $9,648,000 Robert Ryman, Untitled
• $5,728,000 Willem de Kooning, Two Women (Study for Clamdigger)
• $5,616,000 Alexander Calder, Flying Dragon
• $5,280,000 Jeff Koons, New Hoover Convertibles, Red, Brown, New Hoover Deluxe Shampoo Polishers Yellow, Brown Doubledecker
• $5,168,000 Jean Dubuffet, Trinite-Champs-Elysees
• $4,720,000 Yves Klein, RE 46 (SIII)

"Only the buyers can say why with certainty, but the Contemporary art market today continues to encroach on the price levels previously reserved for the high end of the Impressionist market." Sotheby's
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