Last Friday, Loie Hollowell’s painting Linked lingams (yellow, green, blue, purple, pink) (2018) broke the artist’s auction record when it sold for HK$16.5 million (US$2.1 million) at Sotheby’s ‘Contemporary Curated’ evening sale in Hong Kong. That was a 98% increase from its previous record, set just over a week earlier. In addition to quintupling its high estimate, the result for Related lingams also marked a new high for the recently skyrocketing demand for the New York-based artist’s sultry abstractions.
While the benchmark for Hollowell’s work was set by collectors in Asia, Pace established a strong global base for the artist’s market. Buoyed by this huge momentum, it is likely that the Hollowell market will continue to grow alongside growing institutional recognition around the world. Meanwhile, the artist’s small paintings are still relatively affordable – GRIMM sold one for $35,000 at Frieze London’s online edition last year. The artist’s demand for Artsy has been accompanied by broader market interest, with the number of inquiries for each work available on the platform increasing year on year and quadrupling. almost in 2019.
Discover more works by Loie Hollowell.
