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06/03/2025 | Press release | Distributed by Public on 06/03/2025 04:29

French abstract painters: the strategic role major galleries played in their rediscovery [03 Jun 2025]

Somewhat forgotten by the market for several decades, the key signatures of Lyrical Abstraction made something of a comeback before the current slowdown in the art market. Works by Hans Hartung, Georges Mathieu, Gérard Schneider - major figures of 20th century French abstract art - set new records in transactions, boosted by the strategic commitment of influential galleries like Perrotin and Nahmad. We take a closer look at their revaluation.

Some of the major abstract artists of the second half of the 20th century have enjoyed a spectacular return to the limelight after decades of relative indifference. Hans Hartung, Georges Mathieu, Gérard Schneider were key figures in the development of Lyrical Abstraction, and the latest peak in demand for their work has clearly shown the development of international demand for their work.

And although this demand may have contracted in the current context, the renewed interest was more than just a fad; it had deep roots substantially nourished over the last decade by the sustained promotional efforts of powerful dealers like Emmanuel Perrotin. We take a look at the impact of these efforts on the secondary market, and how, and with whom, the Perrotin gallery is reshaping the valuations of the major figures of French 20th-century abstract art today.

Sections

Strength in unity

Support from major galleries: the example of Georges Mathieu

Impact on auction prices: the example of Gérard Schneider

Strength in unity

An artist's entry into the fold of a major international gallery often acts as a catalyst. And when it comes to Emmanuel Perrotin - especially when affiliated with other leading galleries - the impact can be considerable.

Over the last ten years, the Perrotin galleryhas backed European masters of 20th-century abstract art and substantially boosted the popularity of several major artists, including Pierre SOULAGES (1919-2022),who joined the gallery in April 2014. That year, Perrotin organised a double exhibition of his work in New York in association with the highly reputable Dominique Lévygallery, and in 2017, it inaugurated its new Tokyo gallery with paintings by the master of 'Outrenoir'.

In 2017, the French gallery also announced its representation of Hans Hartung's (1904-1989) estate, this time in conjunction with Simon Lee and Nahmad Contemporary. These moves triggered a snowball effect with museum exhibitions, much greater overall visibility - including a dual exhibition of works by Mark Rothko & Hans Hartung at the Pompidou Center - and above all, soaring auction prices. In one year, Hartung's auction price index rose 60%, and then added 56% in 2019. And, as is often the case, the rise in prices was accompanied by an acceleration in transactions… Hartung's market was enjoying a healthy recovery.

Support from major galleries: the example of Georges Mathieu

In 2019, Georges MATHIEU (1921-2012) estate also joined the Perrotin stable as part of a strategic partnership with the Nahmad family. The announcement had an immediate effect: total auction turnover from sales of his work doubled from $8 million in 2019 to $16 million in 2021.

His work began to elicit new demand that turned into an international wave. Activity intensified, particularly in Asia, where collectors from Beijing, Shanghai, Tokyo, Singapore, and even Hong Kong competed for his paintings, and Hong Kong hammered a new record for the artist at $2.3 million in 2021.

Official press release from the Nahmad and Perrotin galleries, June 2019

"We are honored to work with Georges Mathieu's Estate, which has entrusted us with the legacy of this visionary artist. As daring as it is experimental, Mathieu is the founder of the Abstraction Lyric and one of the pioneers of Action Painting and performative art. His work is present in a lot of museums and prestigious collections around the world. Our decision to collaborate is an exciting challenge that will reinvigorate the legacy of Mathieu internationally."

After Asia, the galleries focused their attention on New York: in November 2022, Sotheby's hammered Mathieu's first 7-digit result on American soil. His Camp de Carthage (1951) fetched $1.4 million, an important milestone for the man whom the famous art critic Clement Greenberg considered one of the most influential European painters.

But after the inflation, the market stabilized. On 11 April 2025, the same day a Mathieu retrospective opened at the Monnaie de Paris, Christie's sold his Crissay (1969), a medium format canvas, for $71,250, a reasonable price but without exuberance. A few weeks earlier, a more spectacular work, Eyes of the day (1987/88), sold in Hong Kong for $121,500. Buyers were no longer rushing to acquire all his works and are looking for strong, well-dated paintings from solid collections.

So, after the ascent, Mathieu's market has entered a more selective phase, which ultimately represents a good opportunity for patient collectors.

Further reading:

Pierre Soulages: an artist who defied time [01/11/2022]

Hans Hartung appears to have caught the wind [01/15/2019]

Georges Mathieu, the aesthetics of speed [07/17/2012]

Georges Mathieu's auction turnover

Two years after the announcement of the representation of his estate by the Perrotin and Nahmad Contemporary galleries, Mathieu's market generated a new annual auction turnover record - a strong sign of the impact of this strategic partnership on the secondary market.

Impact on auction prices: the example of Gérard Schneider

The latest artist to benefit from a dynamic initiated by Emmanuel Perrotin is Gérard SCHNEIDER (1896-1986). In 2022, the gallery hosted an exhibition of his work in its new Parisian space dedicated to the secondary market on Avenue Matignon. The success was immediate. At Art Basel, Perrotin sold two of his works, and around twenty of his works were sold at New York's Independent 20th Century art fair.

This exposure didn't take long to impact the auction sphere. In 2023, a masterful painting from 1952 (Opus 21B) dwarfed its estimate by selling for $367,300, setting a new record for the artist. A few months later, Opus 375 (1948) - an equally historic work - also exceeded $300,000. Both paintings had never been offered publicly before, and both were from private collections, just at the right time. The market was hot, and Gérard Schneider's turnover increased by 139% in one year, and his transaction volume doubled the following year.

But as with Georges Mathieu, the market stabilized after the surge. In April 2025, a beautiful painting from 1957 (Opus 132 CY) sold for $57,000 at Christie's Paris, and a large watercolor from 1978 fetched $6,600 at Artcurial. These are reasonable results reflecting a more selective approach from buyers and a generally cautious market sentiment.

As is often the case after an important announcement, the initial surge of enthusiasm has given way to a more sober mood. But the fundamentals remain solid. As Michel Ragon put it: "Lyrical Abstraction was particularly embodied by the work of Gérard Schneider… like Cubism was by Picasso's work".

For the art market, the world's major galleries are like prestige brand names, and the Perrotin Gallery is no exception, acting as a value catalyst for the artists it represents. Through its international footprint, it has a powerful influence on the secondary market, just like other major international galleries (Gagosian, Zwirner, Pace, etc).

Today present on three continents, with 12 branches in Paris, Hong Kong, New York, Seoul, Tokyo, Shanghai, Los Angeles, London and Dubai, Emmanuel Perrotin's gallery has recently (last April) turned a new page in its history by joining forces with Colony Investment Management, a private equity and real estate investment manager focused on European real estate and asset-backed operational businesses, now the majority shareholder in Perrotin Gallery. The first of its type (investment fund / major gallery), this alliance has been described as a minor revolution in the art ecosystem. It creates an unprecedented strategic partnership in these uncertain times, offering the gallery the means to accomplish its ambitions, consolidate its growth, and respond to global market challenges. It will naturally help promote the Perrotin brand on a global scale.

Representation of major abstract artists' estates by Perrotin and associated galleries

  • 2014: Pierre Soulages joins the Perrotin gallery, which hosted a double exhibition in New York with the Dominique Lévy gallery.

  • 2017: The Emmanuel Perrotin gallery signed the estate of artist Hans Hartung (from the Hartung-Bergman estate) in collaboration with the galleries Simon Lee (unfortunately, since closed due to insolvency) and Nahmad Contemporary.

  • 2019: The Emmanuel Perrotin gallery signed the estate of Georges Mathieu, in association with Nahmad Contemporary.

  • 2022: Emmanuel Perrotin signed the estate of Gérard Schneider.

News

Exhibition Georges Mathieu. Geste, Vitesse, Mouvement

The Monnaie de Paris, from April 11 to September 7, 2025

Galerie Perrotin, avenue Matignon, Paris, from April 10 to July 26, 2025

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