🔥 Lots to Watch - 3 July 2024

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I’m excited to share 4 artists and lots worth checking out for this week.

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Table of Contents

• 1) Edgar Plans

• 2) Tomoko Nagai

• 3) Izumi Kato

1) Edgar Plans

• 📍 Bio: Spanish, 1977

• 📊 Price Range: $15,000 - $25,000

• 💰 Record Price: $698,568 USD for Colors, sold at Christie's Shanghai in 2022.

• 🌎 Main Market: Hong Kong & U.S

• 📋 Data Insights

💭 My 2 Cents: Edgar Plans' "Artist Notes 1 / My notes 1" is hitting the auction block at Sotheby's Paris, and I've got to say, it's piqued my interest. His journey from local Spanish galleries to major institutions like MoMA Moscow has been nothing short of meteoric. Now, I've seen my fair share of market bubbles, and Plans' trajectory had all the hallmarks. That 1650% price jump from 2019 to 2020? Red flags were waving. But here's where it gets interesting: unlike many flash-in-the-pan artists, Plans hasn't fizzled out completely. Yes, we're seeing a correction - prices down 57% in 2024 - but that's not necessarily a bad thing. This particular piece, executed in 2018, falls right in Plans' sweet spot. It's a painting, his strongest medium by far (average price $83,000. compared to overall $45,000), and it's sized comparably to his best-performing works. The estimate of $32,000 - $54,000 seems cautious, which is smart given the recent market cool-down. If I were considering this piece, I'd be looking at it as a potential long-term hold. Plans has institutional backing, a unique aesthetic that resonates with younger collectors, and he's shown a willingness to innovate (remember that NBA collaboration?). That said, I'm not rushing to raise my paddle. The market's still finding its footing, and I'd want to see how this auction season plays out before making any moves.

2) Tomoko Nagai

• 📍 Bio: Japanese, 1982

• 📊 Price Range: $10,000 - $16,000

• 💰 Record Price: $157,130 USD for A Gift from White Horse (diptych), sold at Ravenel, Taipei in 2022.

• 🌎 Main Market: Taiwan

• 📋 Data Insights

💭 My 2 Cents: You all know I'm a sucker for artists who blend nostalgia with a contemporary edge, and Tomoko Nagai hits that sweet spot. But don't let the cute factor fool you - there's serious market potential here. I'm particularly intrigued by a piece coming up for auction, "April Birthday, 2010". It's a larger canvas (63.78 x 76.38 inches) estimated at $22,000 - $40,000. Given that a similarly sized work from 2009 fetched $50,118 last year, I smell an opportunity. Nagai's market has been on a wild ride, with eye-popping growth followed by recent cooling. But that 92% sell-through rate? That's the kind of demand that makes my collector's heart skip a beat. Now, I'd be remiss if I didn't mention the volatility we're seeing. That 16% dip in 2024 prices gives me pause. But hey, remember when everyone thought the bottom was falling out of the Yoshitomo Nara market in 2016? Look where those pieces are trading now. For those of you with appetite for excitement (looking at you, Sarah), this larger piece could be a smart play. Just make sure you're in it for the long haul.

3) Izumi Kato

• 📍 Bio: Japanese, 1969

• 📊 Price Range: $35,000- $60,000

• 💰 Record Price: $1,506,359 USD for Untitled, sold at Poly Auction Hong Kong Limited in 2021.

• 🌎 Main Market: Hong Kong

• 📋 Data Insights

💭 My 2 Cents: Izumi Kato's market has been on my radar for a while, and I'm intrigued by the upcoming "Untitled, 2004" lot. With a 13.78 x 24.02 in canvas and an estimate of $19,000 - $31,000, it's a compelling entry point for Kato collectors. I've seen his prices skyrocket lately, especially for paintings, which average a whopping $96,000. This piece, from a pivotal year in his career, could be a steal. If I were bidding, I'd keep a close eye on the hammer ratio. It's been sliding from 1.96 in 2021 to 1.4 in 2024. Are estimates catching up, or is enthusiasm cooling? I'd also want to dig into his institutional presence - that 2019 Hara Museum show seemed to light a fire under prices. For the risk-takers out there, this "Untitled" could be a good one. But if you're more conservative, maybe eye his works on paper in the $5,000-$15,000 range. They're showing steady growth without the rollercoaster ride.