The past two weeks of major fall auctions proved once again that there is no shortage of global hunger for blue chip masterpieces—be they classic Manet portraits, powerful Abstract Expressionist paintings or massive, shiny Jeff Koons animals. Sotheby’s pulled in $343.3 million for its evening contemporary sale and Christie’s smashed the record for the highest ever auction on Wednesday night, November 12, with an $853 million total for 80 works on offer. Auction specialists say they have watched the ranks of top collectors growing in the United States and Europe and also in countries like Brazil and China, where booming economies have produced many newly wealthy buyers eager to collect art. These so-called “trophy hunters” are the collectors who are driving the top end of the market—the number of $10 and $20-million lots sold this season is unprecedented—and who are determined to own the best of the best. Here are some of the most active and wealthy buyers in the art market today.

1. Andy Hall
A former Citigroup Inc. oil trader, Andy Hall is currently chief executive officer of Astenbeck Capital Management. The 63-year-old has built an extensive modern art collection and, in 2012, opened the Hall Art Foundation, an appointment-only art museum in Vermont. The Foundation has formed an exhibition partnership with the Massachusetts Museum of Contemporary Art, in North Adams, Massachusetts, to present a long-term installation devoted to the art of Anselm Kiefer, and with the Ashmolean Museum in Oxford, England, to present a series of exhibitions of contemporary and postwar art. The museum holdings included 5,000 postwar and contemporary works by artists such as Richard Artschwager, Georg Baselitz, Joseph Beuys, Eric Fischl, J?rg Immendorff, Malcolm Morley, A. R. Penck, Ed Ruscha, Andy Warhol, and Franz West.

2. Glenn Fuhrman
Glenn Fuhrman is the hedge fund manager of MSD capital. According to Forbes, he was an art history major, and remains a keen collector of art. He also serves on the board of MoMA’s junior associates, is trustee of Tate Americas Foundation, is a board member of the Institute of Contemporary Art in Philadelphia, and is founder of the FLAG Art Foundation in New York. He opened a gallery in Chelsea to display works from private collections, including his own. Business Insider lists him among the 25 most serious Wall Street Collectors, and, alongside his wife he was named in ARTnews’ 200 Top Collectors.

3. Sheikha Mayassa Al-Thani
Sheikha Mayassa Al-Thani is described by Forbes as the “undisputed queen of the art world.” As chair of Qatar Museums, which houses the country’s art collection and museum landscape, Sheikha Mayassa Al-Thani has overseen the purchase of works by Damien Hirst, Andy Warhol and Mark Rothko (see: “What Are The Top 10 Al-Thani Family Art Acquisitions?“). In 2013 she was placed at the top of ArtReview‘s Power 100 List and, according to them, her organization’s spending reaches a rate of $1 billion per year. In 2014, she was named on artnet News’ The 100 Most Powerful Women in Art (see: “The 100 Most Powerful Women in Art: Part One“).

4. Leon Black
Black is the owner of the private equity firm Apollo Global Management and was last year’s highest paid private equity executive. According to Forbes, he has a net worth of $5.1 billion. Perhaps thanks to genes (his mother was an artist, his aunt an art collector) he has formed a vast art collection. In 2012 Black paid $120 million for Edvard Munch’s The Scream and, in 2013, $48 million for a drawing by Raphael.

5. Eli Broad
Described by The New Yorker as “the Lorenzo de’ Medici of Los Angeles,” Eli Broad has a net worth of $7.2 billion. He and his wife created the Broad Art Foundation in 1984, which now owns more than $2.2 billion worth of art which it lends to institutions around the world. In 2015, the couple is set to open The Broad, a new contemporary art museum in Los Angeles. According to The Art Newspaper, The Broad museum will cost around $140 million.

6. Charles Saatchi
Saatchi is a 71-year-old millionaire and art dealer with an estimated wealth of $192 million. In 1970, he cofounded advertising firm Saatchi & Saatchi with his brother Maurice. As an avid art collector, he went on to found the Saatchi Gallery in London in 1985. During the 1990s, he pioneered the development of the Young British Artists (YBAs) and his “Sensation” exhibition, which exhibited works of artists such as Damien Hirst, Tracey Emin, and Chris Ofili, generated controversy across the globe. 

7. Rosa de la Cruz
Rosa de la Cruz is a Cuban-born art collector. In 2009, she and her husband Carlos de la Cruz opened the de la Cruz Collection Contemporary Art Space in Miami’s Design District. The 30,000-square foot private museum was designed by John Marquette. The museum serves as an extension to the de la Cruzes home, which has also been periodically open to the public. Rosa de la Cruz told Florida Design: “Many visitors are surprised that my husband, Carlos, and I live in a house that looks like a museum.”

8. Patricia Phelps de Cisneros
Patricia and her husband Gustavo Cisneros began collecting Latin American art together after they were married. In the 1970s, she and Gustavo founded the New York City and Caracas-based Fundación Cisneros, a philanthropic organization. Their art collection has expanded to include more than 2,000 pieces and reflects her upbringing among Spanish Colonial Art. Since 1992, she has been a Trustee of MoMA, and is a founding member and chair of its Latin American and Caribbean Fund. In 2014 she was featured in artnet News’ The 100 Most Powerful Women in Art (see: “The 100 Most Powerful Women in Art, Part Three“).

9. The Rubell Family
The Rubell Family Foundation was established in 1964 in New York by Donald and Mera Rubell, who are fixtures in the front row at every major contemporary art auction in New York. Their collection includes works by Keith Haring, Damien Hirst, Jeff Koons, Cindy Sherman, Kara Walker, and Andy Warhol. It is said to be one of the world’s largest privately owned contemporary art foundations and has already hosted 20 exhibitions. In addition to owning an enormous art collection, the couple’s daughter, Jennifer Rubell, produces art herself. Both Mera Rubell and her daughter were recently honored for their contemporary art collection at the Brooklyn Art Museum. The Rubells’ upcoming exhibition is called To Have and to Hold, and will be open from December 3 until August 1, 2015. It celebrates their 50-year marriage and their 20th anniversary of collecting contemporary art.

10. Steven A. Cohen
Former hedge fund manager Steven A. Cohen frequently appears on ARTnews‘ annual list of the Top 200 Collectors in the world. According to Forbes, he is worth $9.3 billion (his Impressionist and contemporary art collection alone is worth an estimated $1 billion). In 2006 he paid $137.5 million for Willem de Kooning’s Woman III (1952), and in 2013 he bought Picasso’s Le Rêve for $155 million. Cohen was reportedly the consignor of Franz Kline’s King Oliver (1958), which sold for $26.5 million at Christie’s record-setting November 12 evening sale. 

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Most Expensive Women Artists at Auction?

When Georgia O’Keeffe’s painting Jimson Weed/White Flower No. 1 (1932) sold at Sotheby’s on November 20 for $44.4 million, tripling its high estimate of $15 million, it became the most expensive painting by a female artist sold at auction. The record was previously held by Joan Mitchell, for Untitled, which sold for $11.9 million, and was set earlier this year at Christie’s New York in May 2014 (see “O’Keeffe Painting Sells for $44 Million at Sotheby’s, Sets Record for Work by Female Artist.”)

The sales of the Mitchell and O’Keeffe paintings were among several notable sales this year of work by female artists, including Cindy Sherman, Yayoi Kusama, and Barbara Hepworth. Although we recently had  a piece on living artists (see “Who Are the Top 10 Most Expensive Living Women Artists?“), with all the recent movement among female artists at the auctions, whether living or dead, we think it’s a good time to look at the top 10.

1. Georgia O’Keeffe
Jimson Weed/White Flower No. 1 (1932) sold at Sotheby’s New York on November 20, 2014, for $44,405,000.

2. Joan Mitchell
Untitled (1960) sold at Christie’s New York on May 13, 2014,  for $11,925,000.

3. Berthe Morisot
Après le déjeuner (1881) sold at Christie’s London on February 6, 2013, for $10,933,245.

4. Natalia Sergeevna Goncharova
Les fleurs (1912) sold at Christie’s London on June 24, 2008, for $10,860,833.

5. Louise Bourgeois
Spider (1996) sold at Christie’s New York on November 8, 2011, for $10,722,500.

6. Tamara de Lempicka
Le rêve (Rafa?la sur fond vert) (1927) sold at Sotheby’s New York on November 2, 2011, for $8,482,500.

7. Camille Claudel
La valse, permière version (1892, printing/casting 1893) sold at Sotheby’s London on June 19, 2013, for $8,018,941.

8. Yayoi Kusama
White No. 28 (1960) sold at Christie’s New York on November 12, 2014, for $7,109,000.

9. Barbara Hepworth
Figure for Landscape (1960) sold at Christie’s London on June 25, 2014, for $7,083,050.

10. Kay Sage
Le passage (1956) sold at Sotheby’s London on February 5, 2014, for $7,074,026.

11. Cindy Sherman
Untitled Film Stills (1977) sold at Christie’s New York on November 12, 2014, for $6,773,000.

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62 Women Share Their Secrets to Art World Success

What are the secrets to a successful career in the art world? We asked 62 women in the upper echelons of museums, galleries, art PR firms, and art non-profits to tell us what they’ve learned over the course of their careers, and to offer their advice for women looking to break into the business (see 12 Must-Read Tips for a Successful Career in the Art World, We Asked 20 Women “Is the Art World Biased?” Here’s What They Said, and The 100 Most Powerful Women in Art: Part One, Part Two, and Part Three).

The survey did bring a few tongue-in-cheek responses.

Simon de Pury, husband and business partner of the dealer Michaela de Pury, offered this: “act like a man look like a woman,” while his better half provided more practical advice. Of course, much of what our respondents had to say will be relevant to everyone. As Daniella Luxembourg noted after delivering her words of wisdom, this was advice she “would give to women and men alike.”

Here is what the first half of our participants had to say, in no particular order. (For the second part, see 62 Women Share Their Secrets to Art World Success: Part Two).

Beatrix Ruf.
Photo: Robin de Puy.

1. Beatrix Ruf, director of the Stedelijk Museum, Amsterdam (see Beatrix Ruf Named New Stedelijk Museum Director)
   See everything, be present, ask a lot, and most of all, be with the artists.

    

    

   Anne Pasternak. Photo: Timothy Greenfield-Sanders.

2. Anne Pasternak, president and artistic director of Creative Time, New York, soon-to-be director of the Brooklyn Museum (see Creative Time’s Anne Pasternak Named Brooklyn Museum Director)
   It’s no secret that women have to work hard and smart every day if they want to be successful!

Michaela de Pury.
Photo: Dave Bennett, courtesy the London Evening Standard.

3. Michaela de Pury, co-founder of de Pury de Pury, London
Have the right artworks and the right clients—paired with expertise and experience.

Angela Goding.
Photo: courtesy Stylelikeu.

4. Angela Goding, director of development, MoMA PS1, Long Island City, Queens
Intuition cannot be overrated.

Dorsey Waxter.
Photo: Matt Car.

5. Dorsey Waxter, co-founder of Van Doren Waxter gallery, New York
Pursue what interests you but stay focused!

Jennifer Faure Francis.
Photo: courtesy the Philadelphia Museum of Art.

6. Jennifer Faure Francis, executive director of marketing and communications at the Philadelphia Museum of Art
Seek a specialty, explore your interests, drive your passion, be exceptional, and make your voice heard.

Sue Stoffel.
Photo: courtesy Sue Stoffel.

7. Sue Stoffel, director of art advisory company StoffelARTS, New York

RoseLee Goldberg.
Photo: Will Ragozzino, courtesy Patrick McMullan/Performa.

8. RoseLee Goldberg, founder of Performa, New York
Be kind, be generous, and don’t blame the guys.

Katelijne De Backer.
Photo: MG Vander Elst.

9. Katelijne De Backer, director of Art Miami New York
The art world demands fluidity and perfection; therefore you need to stay focused, have a great amount of passion, and don’t be intimidated.

Rachel Lehmann. Photo: courtesy Lehmann Maupin.

10. Rachel Lehmann, co-founder of Lehmann Maupin gallery, New York
Passion driven by persistence, curiosity, and commitment is critical to success in the art world, and listening to Pharrell’s “Happy” doesn’t hurt either!

Cheyenne Westphal.

11. Cheyenne Westphal, co-head, contemporary art worldwide at Sotheby’s
For me, the key elements are: love and curiosity for art, honed expertise, the confidence to follow your intuition, and putting long-term relationships with collectors before short-term gain.

Lucy Mitchell-Innes.
Photo: Patrick McMullan.

12. Lucy Mitchell-Innes, co-founder of Mitchell-Innes & Nash gallery, New York
Listen well, look long, and speak little.

Helen Toomer.
Photo: Emily Johnston, courtesy PULSE Contemporary Art Fair.

13. Helen Toomer, director of PULSE Contemporary Art Fair, New York and Miami
The key to success is to determine exactly what success means to you—set your own goals and accomplish these by working hard, dedicating your time and energy, while maintaining pride and confidence in what you do—even when it may not always go the way you planned.

Elizabeth Marks.
Photo: courtesy Elizabeth Marks.

14. Elizabeth Marks, partner at Matthew Marks Gallery, New York
One of the most important things for me was to grow slowly and allow the gallery to build a sound financial infrastructure, which in turn gave Matthew the freedom to never have to compromise creatively.

Eugenie Tsai.
Photo: Tom Finkelpearl.

15. Eugenie Tsai, curator of contemporary art at the Brooklyn Museum
Patience and tenacity are essential to attaining any goal in life. It’s also important to put yourself in situations where opportunities will present themselves.

Dominique Lévy.
Photo: Zenith Richards.

16. Dominique Lévy, founder of Dominique Lévy gallery, New York, London, and Geneva
Find what you are truly passionate about and then pursue it wholeheartedly, because a life’s work that brings you joy will strengthen you throughout a long career.

June Kelly. Photo: courtesy June Kelly Gallery.

17. June Kelly, founder of June Kelly Gallery, New York
As a woman in the art world, I believe it is essential to build solid and effective relationships that can nurture and support shared objectives.

Agnes Gund.
Photo: Timothy Greenfield-Sanders.

18. Agnes Gund, president emerita of the Museum of Modern Art, New York
I was so lucky to have brilliant teachers who taught me how to see art, and mentors who exposed me to wonderful artists and collectors and curators. I made sure to seize every opportunity to see as much as I possibly could. I learned from the ground up by being on committees and councils, and always attempted to convey my appreciation and acknowledgement for everyone’s role. People respond when you give them the respect they deserve, and I have enjoyed the wonderful relationships I have made with so many extraordinary artists. My advice would be: Seek out the best teachers, see as much as you can, always continue to learn, value your friendships, and treat people with respect.

April Hunt. Photo: Rashaad Newsome.

19. April Hunt, founder and CEO of Sparkplug PR, New York
Go with your instincts, define your own success, and be a good human being while doing so.

Deborah Martin Kao.
Photo: Mary Schneider Enriquez.

20. Deborah Kao, chief curator (and soon to be interim co-director) of the Harvard Art Museums, Cambridge, Massachusetts
One of the most important lessons I’ve learned is to keep in balance the laser focus needed to develop and implement a transformative vision for an institution or a field with the open posture required to cultivate and integrate innovative ideas as well as creative methods for achieving them.

Gracie Mansion in front of a painting by Flechemuller.
Photo: Sally Davies.

21. Gracie Mansion, senior specialist, post-war & contemporary art, at artnet Auctions, New York
Rush blindly.

Ann Philbin.
Photo: Andreas Branch, courtesy Patrick McMullan.

22. Ann Philbin, director of the Hammer Museum at UCLA
Strive to reshape and expand the art historical canon—it is not etched in stone.

Justine Ludwig.
Photo: Faiza Butt.

23. Justine Ludwig, director of exhibitions and senior curator at the Dallas Contemporary (see Dallas Contemporary Hires Alison Gingeras and Justine Ludwig)
Make choices that scare you. Taking risks and challenging yourself produces the most rewarding path.

Valerie Cassel Oliver.
Photo: Eric Hester.

24.Valerie Cassel Oliver, senior curator of the Contemporary Arts Museum Houston
Contemporary art is a landscape that is ever-evolving.  As curators, we are literally writing history as it happens. You have to be comfortable and confident when working in uncharted territory.

Agnès Monplaisir.
Photo: David Atlan.

25. Agnès Monplaisir, founder of Galerie Agnès Monplaisir, Paris
Stay true to your unique vision and always surround yourself with great beauty.

Maryam Eisler.
Photo: courtesy Maryam Eisler.

26. Maryam Eisler, director of the Maryam and Edward Eisler Foundation, London
Art wins where politics often fails. Art is a great weapon with strong regenerative power allowing for open dialogue and critical thinking. Art has the potential to change unfounded misperceptions. Art is today’s most powerful expressive tool conveyed through artists whom are, in my opinion, today’s opinion makers. That is how I see art and how I use art for my bigger picture objectives. Art as soft power.

Leila Heller.
Photo: Lana Kurtz, courtesy Canvas Magazine.

27. Leila Taghinia-Milani Heller, founder and president of Leila Heller Gallery, New York
The key to my success is built on three things: my passion for the arts, my well-honed people skills, and my determination to never take “no” for an answer.

Lisa Dennison.
Photo: courtesy Sotheby’s.

28. Lisa Dennison, chairman of Sotheby’s North and South America
My advice on art world success is actually the same for women as for men: develop connoisseurship at the highest level, and let that be your guiding principle at every turn.

Clare McAndrew
www.paulmccarthyphotography.com.

29. Clare McAndrew, cultural economist and founder of the Arts Economics consulting firm, creator of the annual TEFAF market report (see Clare McAndrew Explains How She Prepares the TEFAF Art Market Report)
While personal taste seems central to purchasing art, many buyers are very reluctant to rely on their own. The “superstar phenomenon” we are seeing in the art market, where works of a narrow group of artists achieve extraordinarily high prices, is being driven in part by risk reducing techniques and the pervasive desire to “consume as others are consuming”. Many new collectors will only purchase well-recognized works or those by famous artists, essentially relying on the preferences already established by previously successful buyers, hence reducing the risks of relying on their own taste. Collectively, this tends to reinforce the position of successful artists while letting other lesser known, but equally talented, artists go unnoticed. This (along with scarcity) is why some prices are so high, rather than necessarily a difference in quality. You do not need to be a millionaire to access high quality but you do need to put a bit of time and effort into your own research or gaining access to some objective advice.

Paula Cooper taking a break from setting up her booth at FIAC, Paris (2007).
Photo: Vincent Capman, SIPA.

30. Paula Cooper, founder of Paula Cooper Gallery
Forget that you’re a woman, be a person.

Andrea Schwan. Photo: courtesy Andrea Schwan.

31. Andrea Schwan, founder of Andrea Schwan Inc., New York
Honor other people by being truthful and direct, telling them what they actually need to know and not just want they want to hear.

For more impressive art world women see 25 Women Curators Shaking Things Up, 25 Art World Women at the Top, From Sheikha Al-Mayassa to Yoko Ono, and Legendary Women Dealers You Need to Know, Part One, Part Two, and Part Three.