🔥 Artists to Watch - Works of Danh Vo, Olafur Eliasson, Mickalene Thomas, and 2 other finds

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HEY Y’ALL! 🔥

Thanks for all the great feedback from the lots I shared last Wednesday!

📈 Top Picks from the Last Issue:

1. Zhang Enli, Peel Off, 2006

2. Christina Quarles, ALL THA STARS MAN, THA STARS LOOK BEAUTIFUL TONITE, 2006

3. Nicolas Party, Still Life with a Candle, 2012

I’m excited to share 5 pieces worth checking out for this week.

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1) Danh Vo

• 📍 Bio: Vietnamese, 1975

• 📊 YOY Growth 2023: -49%

• 💰 Record Price: $930,366 for VJ Star, sold at Phillips London in 2015.

• 🌎 Main Market: U.K & U.S

💭 My 2 Cents: Don't overlook Danh Vo's 'Alphabet (J)'. This piece is one of those artworks that really makes you stop and think. Vo has a knack for taking everyday items—like cardboard boxes—and transforming them into something unexpectedly elegant with just a touch of gold leaf. 'Alphabet (J)' was created back in 2011, during a period when he was deeply exploring themes of identity and cultural heritage.

So when I saw the estimate sitting at $53,000 to $80,000, it made me pause. Is that a fair price? Considering how his prices have been all over the place lately, I'd say it is. Plus, there's some buzz building around his upcoming show at White Cube in London this October. That's the kind of event that can make collectors sit up and take notice.

What really grabs me about this piece is its size—it's big enough to catch your eye from across the room. And since Vo's works in the 'painting' category tend to perform the best, this could be a smart move.

Now, I'm not saying it's a guaranteed win. Vo's sell-through rates have been a bit shaky recently. But with his consistent appearances in major exhibitions and solid placements in top collections, there's a sense of stability there.

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2) Olafur Eliasson

• 📍 Bio: Danish, 1967

• 📊 YOY Growth 2023: +19%

• 💰 Record Price: $1,522,455 for Fivefold Eye, sold at Christie's London in 2007.

• 🌎 Main Market: U.K & U.S

💭My 2 Cents: When I found out that his "The hut series" was coming up at Phillips, it definitely made me stop and take a second look. You see, Eliasson’s best known for his massive installations that mess with your perception, but this series has a different vibe—more intimate, yet still playing with that connection between humans and nature.

What’s cool about it? It’s 56 photographs, each showing a unique hut in some remote, almost otherworldly place. And if you think about it, it’s a subtle nod to how we experience isolation and environment. Now, Eliasson’s photos haven’t gotten as much attention as his bigger projects, which means there might be some room here for a savvy collector.

Historically, his photography averages around $53,960, but with a series this big and thoughtful, I wouldn’t be surprised if it pushes higher. That said, we’ve got to be careful. His sell-through rate can be a bit up and down. But "The hut series" is a limited edition—only 6 out there—and this is number 2. That scarcity factor alone adds some weight.

Right now, it’s sitting at an estimate of $50,000 to $70,000, which feels fair given the broader market’s growing interest in ecological themes and Eliasson’s rising visibility. Plus, prices for his works have started ticking up a bit in 2024.

And speaking of momentum, Eliasson just launched a new show at MOCA in Los Angeles. It’s a major one, packed with site-specific installations that play with light, color, and geometry—essentially everything that defines his style.

3) Mickalene Thomas

• 📍 Bio: American, 1971

• 📊 YOY Growth 2023: +26%

• 💰 Record Price: $1,830,000 for Racquel Reclining Wearing Purple Jumpsuit, sold at Christie's New York in 2021.

• 🌎 Main Market: U.S

💭 My 2 Cents: This 2014 painting from Mickalene Thomas is something special. It’s got those rich textures, vibrant patterns, and that unique mix of rhinestones and acrylic that really bring her interiors to life. I was just thinking about how her market has been on a steady climb, with auction prices rising each year. And this piece? It fits right into that upward swing.

But 2024 has seen a slight dip in sell-through rates for her works. Does that mean we should worry? Not necessarily. Paintings are still the top performers in her portfolio. The estimate of around $134,000 to $268,000 seems fair, especially when you consider her average painting sells for about $225,000. I can't help but feel this piece could exceed expectations, especially with all the buzz from her recent exhibitions like "All About Love" at The Broad.

Of course, we should be mindful of market ups and downs. While her work has shown impressive growth, there are some fluctuations to keep an eye on. But you know what? With her growing recognition and the depth of her themes—exploring African-American female identity and aesthetics—I believe the long-term value is promising.

4) Sarah Sze

• 📍 Bio: American, 1969

• 📊 YOY Growth 2023: +123%

• 💰 Record Price: $737,500 for Surprise Ending, sold at Christie's New York in 2020.

• 🌎 Main Market: U.S

💭 My 2 Cents: You know what’s caught my eye lately? Sarah Sze’s latest piece, "Spell." It’s one of those works that makes you pause and really look. She created it in 2023, right around the time her "Timelapse" show at the Guggenheim was making noise. It feels like a turning point in her career—kind of like she’s weaving together everything she’s known for, while experimenting with something new. It’s got that blend of her immersive installations mixed with a focus back on painting, which just seems to capture how chaotic and fragmented things feel in our always-online world.

But let’s talk about what this means if you’re considering it from a collector’s point of view. Sze’s work has been building momentum, and the prices have been climbing. Usually, her paintings go for about $222,470, but lately, we’ve been seeing those numbers jump, especially in 2023 and 2024. That’s why Christie’s London is betting big by putting "Spell" up for auction with an estimate between $803,748 and $1,205,622. It’s definitely a bold move, but it shows a lot of faith in her growth.

Of course, that high estimate comes with a catch. Sze’s sell-through rate dropped a bit this year—down to 75%—so there’s some uncertainty in the air. But that’s where it gets interesting: even though there’s a bit of risk, a piece like "Spell" could still be a smart play for the right buyer. It’s a large-scale work, signed and all, and it really speaks to where she’s heading as an artist. That kind of piece could end up being one of those rare finds that stands the test of time.

So, in the end, it’s all about weighing what matters more: the short-term price fluctuations or the long-term potential.

5) Hernan Bas

• 📍 Bio: American, 1978

• 📊 YOY Growth 2023: -18%

• 💰 Record Price: $1,441,389 for The Bats and the Barn Bridge, sold at Christie's Hong Kong in 2022.

• 🌎 Main Market: Hong Kong & U.S

💭 My 2 Cents: Hernan Bas’s work, “The Primordial Soup Theory (Homosexual),” is worth paying attention to. Why? Well, it’s not every day you see a painting with such a solid exhibition history. This one’s been shown all over—Victoria Miro in London, Kunstverein Hannover, and even the Centro de Arte Contemporáneo de Málaga. It even landed on the back cover of his Rizzoli monograph in 2014. That’s not random; it tells you this work is a big deal in his catalog.

So, where does Bas’s market stand right now? He’s on an upswing. His average sold prices took a noticeable jump between 2021 and 2022, and collectors are paying attention. Sure, there’s been a bit of fluctuation—par for the course in this segment—but overall, it’s headed in the right direction.

And here’s the thing: this painting taps into themes that are hitting home at the moment—identity, origin, and that mix of science and myth. With conversations around these topics heating up, it’s not just a pretty picture—it’s got some cultural weight, too.

Now, let’s talk numbers. The estimate is $334,895 to $468,853 USD. It’s steep, I’ll give you that. But given where Bas’s market is going and the history tied to this piece, I wouldn’t be shocked if it hits the higher end. If you can snag it around the lower estimate or even just a bit below, it could be a smart buy. Bas’s works at this caliber don’t pop up often, so demand might outstrip supply.

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See you next Wednesday!

-Alvaro (@theartmarketguy)

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Not financial advice. Frame&Flame is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.