Romanian painter Adrian Ghenie (37) was the best-selling young contemporary artist in the world this year, according to a ranking made byartnet.com.

The art platform has examined a total of more than 18,000 living artists whose works have been offered for sale by auction houses in 2014 in order to find the artists achieving the greatest price increases over the initial high estimates.

Artists were evaluated by two criteria: the first, the maximum difference in US dollars, represents the greatest spread between a single lot’s high estimate and its price realized at auction, while the second number represents the average spread between the price realized at auction and each lot’s high estimate when all of the artist’s lots are taken as a group.

Adrian Ghenie came first on both criteria. He achieved the maximum difference between the estimated price and the selling price for one painting, of USD 1.84 million, as well as the highest average difference for all his auctions in 2014, of USD 301,000. He sold 10 paintings this year.

Ghenie’s highest valued painting was The Fake Rothko, which sold for GBP 1.42 million (some USD 2.43 million) at an auction organised by Sotheby’s in London, in the beginning of July this year. The painting had an estimated price of some USD 600,000.

Read the entire article on Romania-Insider.com.