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Market Reports
3.14.2022 by FAB Team

The March Marquee evening sales of Impressionist, Modern and Contemporary art at Sotheby’s, Christie’s and Phillips in London hit a 4-year high, totaling just over £400 million against the total pre-sale low estimate of £376.7 million.

Among the record-breaking sales were works by a group of NextGen artists whose reputations (and markets) are on the rise. Here, Fine Art Brokers spotlights six women artists to have on your radar in 2022.

Flora Yukhnovich (b. 1990)

Since completing her MA at the City & Guilds of London Art School in 2017, Flora Yukhnovich has gone from strength to strength. Her Rococo-inspired paintings pulse with energy and possess a materiality that calls to mind the work of Cecily Brown. ‘I love paint. I think it’s delicious. I find it the most thrilling, exciting stuff,’ she has said. ‘I like the idea of it being excessive and luxuriating in it.’

Over the past five years, she has exhibited widely including at the Jerwood Gallery in Hastings, the Gallery of the Central Bohemian Region in the Czech Republic and at Blenheim Walk Gallery in Leeds. In 2018 she completed The Great Women Artists Residency at Palazzo Monti in Brescia.

Flora Yukhnovich’s Wet ‘N’ Wild sold for £2.7 million at Sotheby’s London on 2 March 2022, setting a new world record for the artist at auction.

She is currently exhibiting a new body of work at Victoria Miro gallery in London and will be included in the forthcoming Impressionism: A World View at The Nassau County Museum of Art in New York (on view until July 2022). In 2023 she will be the first artist to take part in a new series of solo exhibitions responding to the collection of the Ashmolean museum in Oxford.

As for her market? ‘It’s hot,’ says Ray Waterhouse, co-founder of Fine Art Brokers. ‘There’s been a surge of interest in her work since it debuted at auction last year.’ The record-breaking sale of Wet ‘N’ Wild (2020) at Sotheby’s on 2 March 2022 is proof of this trend. After a spirited international bidding battle, it soared above estimate before selling for £2.7 million ($3.6 million).

Jadé Fadojutimi (b. 1993)

The British painter Jadé Fadojutimi had a bumper 2021. Not only did she become the youngest artist to have a work acquired by the Tate, but she also featured in the Hayward Gallery’s celebrated group exhibition Mixing It Up: Painting Today. Now, she’s enjoying her first major institutional solo show at the Institute of Contemporary Art in Miami. This autumn she will show a body of new work at the Hepworth Wakefield in West Yorkshire. Andrew Bonacina, the museum’s chief curator, has described Fadojutimi as ‘one of the most dynamic and innovative painters of her generation with a maturity of language that far surpasses her young age.’

Jadé Fadojutimi’s Acquainted Intruder sold for £942,000 on 1 March at Christie’s in London.

Fadojutimi’s large-scale canvases have received equal interest from collectors at auction. In 2021, Myths of Pleasure (2017) achieved £1,172,000, setting a new world record for the artist at auction. When Acquainted Intruder (2018) was sold at Christie’s London on 1 March 2022, it achieved an impressive £942,000, more than triple the low estimate.

Issy Wood (b. 1993)

In recent years, Issy Wood’s shadowy, surreal canvases have garnered attention from critics and collectors alike. She landed her first solo show in 2017 before earning an MA from the Royal Academy Schools in 2018. In 2020, she was named an emerging talent to watch on the Artsy Vanguard list. Last year, she opened solo shows at Beijing’s X Museum and JTT in New York and was included in the Hayward Gallery’s celebrated group exhibition Mixing it Up.

Issy Wood’s Over Armour (2019) sold for £250,000 on 23 March 2021, setting a new world record for the artist at auction.

Commercial success has followed. In March 2021, Over Armour (2019), a bewitching trompe l’oeil, sold for £250,000 setting a new world record for the artist at auction. More recently, The Consultation from 2017 achieved £226,800, nearly double the low estimate. Waterhouse predicts this upward trend will continue.

Rachel Jones (b. 1991)

The art world is abuzz with talk of Rachel Jones. Following her inclusion in the Hayward Gallery’s 2021 Mixing It Up exhibition, Jones mounted her first solo show, SMIIILLLLEEEE, at Thaddaeus Ropac in London. The exhibition closed in February to rave reviews, with The Art Newspaper describing it as one of ‘the most acclaimed new painting shows in recent years.’ Now, she’s enjoying her first institutional show at Chisenhale Gallery in London, featuring a new body of paintings on canvas and paper.

Rachel Jones’s A Slow Teething (2020) achieved £617,400 on 2 March 2022 at Sotheby’s in London.

In parallel, demand for her work has been steadily building on the market. Her work first appeared at auction in 2021, when A Sliced Tooth (2021) was offered with an estimate of £5,000-7000. Just a year later, A Slow Teething (2020) sold for £617,400, nearly nine times the high estimate. With her profile (and market) on the rise, her work could prove a savvy investment.

Shara Hughes (b. 1981)

Over the past 15 years, Shara Hughes has established a reputation as one of the foremost painters of her generation. She earned a BFA from the Rhode Island School of Design in 2004 and mounted her first solo exhibition in 2007. Shortly afterwads, she enjoyed a sell-out debut at Museum 52 in London. But it was her inclusion in the 2017 Whitney Biennial that propelled her to international acclaim.

Since then, she has enjoyed solo exhibitions at the Yuz Museum in Shanghai, the Contemporary Art Museum in St Louis and the Garden Museum in London, her first UK museum show. She is currently preparing for a new show at the Kunstmuseum Luzern in Switzerland.

Shara Hughes’s Naked Lady (2019) sold for a record-breaking £2,031,500 on 2 March at Sotheby’s in London

In the aftermath of the Whitney Biennial, both the primary and secondary markets for her work rose exponentially. And the appetite hasn’t abated yet. In 2020 she joined Pilar Corrias gallery, and on 2 March 2022, Naked Lady (2019) soared above its £280,000 high estimate before selling for £2,031,500, setting a new world record for the artist at auction.

Hughes’s work can now also be found in prestigious collections around the world, including the Dallas Museum of Art, The Fondation Louis Vuitton in Paris and the Metropolitan Museum of Art in New York.

Claire Tabouret (b. 1981)

Claire Tabouret’s distinctive figurative paintings have enjoyed a steady uptick in market interest year on year, says Waterhouse, with the number of inquiries for her work on Artsy increasing by about 63% from 2019 to 2020 alone. In April 2021 she became the highest-priced living French artist when Les débutantes (bleu azur) (2014) achieved $870,000 on a $300,000 high estimate.

Claire Tabouret’s Les débutantes (bleu azur) (2014) sold for $870,000 on 14 May 2021 at Christie’s in New York

Since finishing her studies in 2006, she has exhibited in group and solo exhibitions around the world, including the Pinault Collection-Bourse de Commerce’s inaugural exhibition Ouverture in 2021. Her work can be found in such prestigious institutions as the ICA in Miami, the Agnes B Collection in France and the Los Angeles County Museum of Art in Los Angeles.