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Ahead of David Hockney’s largest-ever exhibition, we are exploring the man who is arguably the world’s most investable artist and ranking some of his most expensive works of art.
Born in 1930’s Bradford, Hockney eluded his humble upbringing and made it to the Royal College of Art (RCA), a common starting point for many of the most successful and investable artists. Hockney was a raring success at the RCA, with the college even changing its regulations so that he could graduate without completing an essay when he argued that he should be judged on his artistic merit.
After graduation, David Hockney taught for a brief stint before moving to Los Angeles, where the bulk of his most revered works were created. Since then, he has lived between California, Paris, and England and has come to be known as the most successful living artist.or £22.9 million in 2019 after nearly 50 years stashed away in a private collection.
Portrait Of An Artist (Pool With Two Figures)
One of the most expensive paintings ever sold, Portrait Of An Artist, is a testimony to the success that can be seen in art investment. First sold in 1972 for $18,000, the artwork changed hands a few more times before breaking an auction record for a living artist, with the bidding reaching $90.3 million from an unknown bidder.
Henry Geldzahler And Christopher Scott
Another record breaker from David Hockney, this work broke the record for the most expensive painting by a living artist sold in Europe when it made £37.7 million at Christie’s auction house in London. Just 27 years before the record-breaking auction result, this same work sold for $569,000 at Sotheby’s in New York, meaning the buyer saw a return of 245% per annum.
Nichols Canyon
Not much is known about Nichols Canyon’s sales history. Still, the 1980s work, which sold for $41 million at Phillips auction house in 2020, certainly achieved a significant return for its previous owner. It is considered one of his greatest works and is the most important Hockney landscape in private hands.
The Splash
Arguably David Hockey’s most famous painting, The Splash made headlines worldwide when it sold for £23.1 million in 2020. This is a tremendous return on the previous sale price of $2.9 million in 2006, netting the owner a 796% return.
Sur La Terrasse
This work was painted in 1971 in Morocco as David Hockney noticed a growing distance in his relationship with fellow artist Peter Schlesinger, who featured in many of his paintings, including “Portrait Of An Artist”. The work sold for £22.9 million in 2019 after nearly 50 years stashed away in a private collection.
The profits realised from these David Hockney works show how prosperous the art market can be, but they raise the question, why are David Hockney’s paintings so expensive?
What makes David Hockney’s works so expensive?
David Hockney’s success is attributed to several factors, from his pioneering influence on the 20th-century art world to his history of success at auction.
David Hockney’s Education
As previously mentioned, the RCA has an alumnus of greats, including Tracey Emin, Henry Moore, Barbara Hepworth and more. Studying at the Royal College of Art is a tremendous qualification for an artist’s CV, and as such, it has an enormous impact on the value of their art. Not only did David Hockney study at the RCA, but he also showed tremendous prowess while studying there, leading to the school amending its own regulations to accommodate him.
David Hockney’s Style
David Hockney has been at the forefront of Contemporary Art for over 60 years and has adapted to the times, ensuring he is always à la mode and in demand. His timeless style makes his oldest works as relevant today as they were 60 years ago. His ability to remain en vogue is exemplified by the museums that collect him.
Museum Collection of David Hockney
It’s no surprise that David Hockney is permanently collected by museums worldwide, but the significance of being in permanent collection is easily lost on the layman. To be permanently collected means a major artistic institution considers your work to be of great historical and artistic significance and that this will remain the case forever. As you can imagine, a milestone like this substantially impacts the value of an artist’s work.
David Hockney at Auction
David Hockney’s auction successes are widely publicised, with record-breaking results at Christie’s, Bonham’s, Sotheby’s, and Phillips. Hockney became the world’s most expensive living artist when his piece, “Portrait Of An Artist,” sold for $90.3 million. Auction results bolster the value of an artist’s works as they show prospective buyers what is effectively a democratic valuation.
All these factors are good signs to consider when looking for an artist to invest in, but if you want to learn the best practices for investing in art, download our Art Investment Outlook 2025 today.
