🔥 Artists to Watch - Works of Jonas Wood, Hilary Pecis, Kehinde Wiley

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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. Kerry James Marshall, PAST TIMES, 1997

2. Avery Singer, Happening, 2014

3. Sarah Slappey, Black Pearls II 2020

I’m excited to share 3 artists worth checking out for this week.

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1) Jonas Wood

• 📍 Bio: American, 1977

• 📊 YOY Growth 2023: 89%

• 💰 Record Price: $6,510,000 for Two Tables with Floral Pattern, sold at Christie's New York in 2021.

• 🌎 Main Market: U.S

• 🤝 Asking Price: $300,000

💭 My 2 Cents: Jonas Wood’s Untitled (Raffi) from 2006 is an excellent example of his early work, showcasing his unique style that blends different perspectives and vibrant colors. This piece, depicting fellow artist Raffi Kalenderian, is a nod to Wood’s fascination with portraying everyday moments through a modern lens. At over four feet tall, the size of this painting is a big plus, as larger works by Wood tend to attract more interest and higher prices. Given how Wood’s prices have skyrocketed—up 1470% from 2011 to 2023—the $300,000 asking price for this painting seems like a smart investment. His paintings, especially compared to his other works, are highly sought after and are already featured in top museums like MoMA and the Whitney. While the painting is in good shape, there are some minor signs of wear, but nothing that would detract from its value. With Wood’s upcoming solo exhibition in Gagosian London this October, I think this piece could gain even more attention and value. If you’re considering adding a Wood to your collection, this might be a great opportunity.

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2) Hilary Pecis

• 📍 Bio: American, 1979

• 📊 YOY Growth 2023: -27%

• 💰 Record Price: $1,259,832 for Fish and Bird, sold at Sotheby's London in 2022.

• 🌎 Main Market: Hong Kong & U.S

• 🤝 Asking Price: $100,000

💭My 2 Cents: Hilary Pecis is quickly becoming a must-watch artist, and her "Studio Vases" (2022) shows why her work is resonating with collectors. Priced at $100,000, this piece is right in the sweet spot of her current market, which has seen a remarkable rise in value. Since 2020, her prices have soared, and she’s maintained a perfect sales record this year, reflecting strong demand. Moreover, Pecis’s representation by top galleries like David Kordansky has done wonders for her market presence. Institutions like the National Gallery of Art and LACMA snapping up her pieces only add to her credibility and long-term value. Given that her average realized price in 2024 is still a solid $187,920, Studio Vases might just be a steal. I think it’s a smart buy, especially as her global presence continues to grow. This could be one of those pieces that not only holds its value but potentially appreciates significantly in the near future.

3) Kehinde Wiley

• 📍 Bio: American, 1977

• 📊 YOY Growth 2023: 21%

• 💰 Record Price: $844,885 for Christian Martyr Tarcisius, sold at Phillips London in 2024.

• 🌎 Main Market: U.S

• 🤝 Asking Price: $100,000

💭 My 2 Cents: Kehinde Wiley’s Passing/Posing is a gem that reflects the artist’s bold reimagining of classical portraiture, elevating Black subjects in a way that resonates deeply with today's collectors. At $100,000, it’s priced right at the sweet spot where Wiley’s paintings have historically outperformed. Given the artist's 94.87% sell-through rate in 2021 and a recent 41.15% increase in average lot value, I believe this work is a solid buy. Wiley’s ability to blend Old Master techniques with contemporary themes continues to captivate both institutions and private collectors, evidenced by the work being held in over 50 public collections worldwide. This particular piece, from the groundbreaking Passing/Posing series, is crucial in understanding the evolution of Black masculinity in art—a theme that's only grown more relevant with time. In my view, this work is undervalued, especially considering Wiley’s increasing global influence, bolstered by his An Archaeology of Silence exhibition. The $100,000 asking price not only represents a smart entry point for collectors but also aligns with the artist's rising market momentum. Don't sleep on this one—Wiley’s market has shown resilience, even in volatile times.

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See you next Wednesday!

-Alvaro (@theartmarketguy)

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