Pablo Picasso tops best-selling artist of 2009 list
Works by Pablo Picasso sold for a total of $121 million in 2009, placing him at the top of the list of the world's best selling artists.The list, compiled by Art Price from data obtained from 6,000 auction houses globally, also includes Andy Warhol at number two and Qi Baishi in third place.
It is the first time that a Chinese artist has placed in the top three on the list.
Qi was the only artist to see an increase in his year-on-year sales and the popularity of his work reflects an art market in China that is now the third largest in the world and growing rapidly.
Despite topping the list, the total revenue generated through the sale of Picasso's work fell by 54 per cent year on year and his price index fell by 15 per cent.
Sales of Andy Warhol pieces also fell sharply- by 55 per cent- as the established art market dropped off in the midst of recession.
By comparison, Qi sold 73 per cent more works than in 2008.
Picasso's most expensive painting sold for $104.1 million in 2004.
