How has the market value of Number 31 changed since 1998?

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The Market Value of Jackson Pollock's Number 31 Has Significantly Increased Since 1998

Jackson Pollock's painting, Number 31, is poised for a dramatic reappraisal of its market value, with an auction estimate significantly exceeding its 1998 sale price. The artwork is expected to command a price of over US$45 million when it goes under the hammer on May 12, representing a potential thirteenfold increase from its previous sale. This projection highlights a substantial surge in the painting's valuation over the past two decades.
Auction Estimate Far Exceeds Previous Sale Price

Christie's has placed an estimated value of more than US$45 million on Number 31 for its upcoming auction. This figure stands in stark contrast to the US$3.5 million the painting achieved when it was previously sold at Christie's in 1998. The current estimate suggests a potential sale price that is approximately 13 times higher than what it fetched two decades ago.
A Rare Example of Pollock's Drip Technique

Number 31, created in 1949, is a significant piece from Jackson Pollock's action painting period, specifically his drip painting technique. This method involved projecting paint onto large surfaces without the use of brushes, a revolutionary approach at the time. Notably, Pollock produced only 13 such works on paper in 1949, and Number 31 is one of only eight from that year to feature the distinctive shiny metallic paint.
Potential for a New Sales Record

The anticipated sale price of over US$45 million could position Number 31 among Jackson Pollock's most expensive works. The painting has been held within the same private collection for over twenty years, contributing to its rarity on the secondary market. While this auction could set a new record for the artist, it would need to surpass the US$61 million achieved by "Number 17" in November, which itself significantly exceeded its initial estimate.

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How has the market value of Number 31 changed since 1998?

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