PARIS, Jan. 18, 2023 /PRNewswire/ -- As a
sales-based indicator, our Artprice100© index reflects a purely
financial approach to art that in no way replaces the non-financial
relationships between art collectors and artists. In essence, our
index reveals the hypothetical financial result you would obtain if
you were to invest in the world's top-selling artists to benefit
financially from their success.
Artprice100© vs. S&P 500 – Base 100 in January 2000
Infographic
- https://mma.prnewswire.com/media/1985066/Artprice100_Infographic.jpg
Artprice Global Index – Base 100 in January 2000
Infographic
- https://mma.prnewswire.com/media/1985067/Artprice_Global_Infographic.jpg
"In financial terms, investing in art masterpieces has never
been so costly, with auction prices nowadays often reaching eight
or nine figures in US dollars. But, at the same time, thanks to
joint ownership solutions, it has never been so easy", says
thierry Ehrmann, CEO of Artmarket.com and Founder of
Artprice.
The Artprice100© index is therefore an essential market
benchmark: a purely theoretical exercise simulating investment in
the art market's 100 most successful artists without any other
aesthetic or preferential consideration. To calculate the index, we
construct a portfolio of the world's 100 top-selling artists based
on their auction revenue over the previous five years (in this
case, 1 January 2017 to 31 December 2021). We also apply a liquidity
criterion: for each artist, at least ten works (excluding prints
and multiples) must have been auctioned annually for them to be
included in the calculations (see list of included artists
below).
The economic context and art market trends
In global terms, the year 2022 was marked by a range of issues
including the fallout and persistent economic impact of the global
covid pandemic (inflation, China…) and the new economic challenges
posed by the war in Ukraine,
notably in terms of energy. Over the 12 months of 2022, the S&P
500 lost 19% of its value while crypto-currencies entered a bear
market that substantially slowed NFT transactions.
However, despite these drags on the global economy, the global
art auction market had a prosperous year and, indeed, one of the
best in its history. Artprice attributes this good performance
primarily to the successes achieved by American auction houses,
posting record sales with truly sensational results in the painting
medium, but also in photography and tapestry. And, as you will see
in our comprehensive 2022 Global Art Market Report (to be published
at the beginning of March 2023
on www.artprice.com), strong results in France, Germany, and Hong
Kong also stabilized the global art auction market.
Among the art market's principal trends in 2022, Artprice noted
the more intense than ever competition for masterpieces from the
most prestigious collections, which included the Hubert de
Givenchy, Thomas Ammann,
Yusaku Maezawa, and of course the
Paul G. Allen collections. The year's results also showed a
continuing voracious appetite for works by very young artists
(Ultra-Contemporary Art), to which Artprice devoted its last Annual
Report.
www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022
Our Global Artprice Index was down
18% in 2022, but our Artprice100© gained
3%
Excepting the ultra-high-end of the art market, the global
economic context nevertheless prompted art buyers to adopt a
generally more cautious stance. With 1 million lots presented
worldwide (as recorded by Artprice by Artmarket.com in 2022), the
offer has once again expanded to an unprecedented level, with more
than half of the transactions (56% of lots sold) concluded below
the threshold of $1,000 (including
fees).
So, while our Blue-chip 100 Artists Index shows slight growth
over the past twelve months (+3%), overall art market prices posted
a contraction of 18%: almost the same contraction as the S&P
500 index. The causes are many and varied, starting with the
suspension of art auctions in China and the weakening of the euro against
the dollar.
It should be noted that many artworks that reached sensational
results in auction rooms during 2022 cannot be included in the
calculation of our Artprice Global Index. Extremely
rare works such as Georges Seurat's Les
Poseuses (1888) or fresh canvases such as Avery Singer's Happening (2014)
are not included in the calculation of the Global Indices either
because there is no repeat sales history, or
because there is not enough data to use a hedonic valuation method.
For example, there may not be enough similar works in circulation
or there is still too little hindsight to assess the value of these
works on a regular basis (annually or quarterly).
www.artprice.com/artist/26469/georges-seurat/painting/28444347/les-poseuses-ensemble-petite-version
www.artprice.com/artist/611277/avery-singer/painting/26880003/happening
Lastly, the progression of the Arptrice100© index may, in
itself, seem weak considering the spectacular results recorded in
2022 for blue-chip artists. However, this index takes into
consideration all the works sold by the 100
top-selling and most liquid signatures, and some of these works
were much less successful than the most legendary pieces.
For example, the third-best result of the year 2022 was hammered
for Paul Cézanne's La Montagne
Sainte-Victoire (1888-1890). Acquired in 2001 for
$38.5 million, this painting was
resold for $137.8 million (incl.
fees) this year as part of the Paul G. Allen Collection. However, a
few days later (17 November), another painting by
Cézanne, Maisons au Chou, à Pontoise (circa 1881),
acquired in 2007 for $6.8 million,
was resold for just $3.7 million at
Christie's in New York.
So, if we compare the Artprice100© and
the Global Artprice indices, we see that blue-chip
artists managed to get through an economically challenging year
with a slight increase in market value and that the rarest
masterpieces by these blue-chip signatures clearly posted the best
returns.
The Artprice100© index: Artist +
portfolio weighting in 2022
1. Pablo PICASSO (1881-1973). 8.6%
2. Jean-Michel BASQUIAT (1960-1988). 4.4%
3. Andy WARHOL (1928-1987). 4.2%
4. Claude MONET (1840-1926). 4.0%
5. ZAO Wou-Ki (1921-2013). 3.8%
6. QI Baishi (1864-1957). 2.8%
7. Gerhard RICHTER (1932-). 2.6%
8. FU Baoshi (1904-1965). 2.2%
9. WU Guanzhong (1919-2010). 2.1%
10. David HOCKNEY (1937-). 2.1%
11. Yayoi KUSAMA (1929-). 1.9%
12. Roy LICHTENSTEIN (1923-1997). 1.7%
13. René MAGRITTE (1898-1967). 1.7%
14. Vincent VAN GOGH (1853-1890). 1.7%
15. Cy TWOMBLY (1928-2011). 1.7%
16. Alberto GIACOMETTI (1901-1966). 1.6%
17. SAN Yu (1895/1901-1966). 1.6%
18. Alexander CALDER
(1898-1976). 1.5%
19. Marc CHAGALL (1887-1985). 1.5%
20. Willem DE KOONING (1904-1997). 1.4%
21. Joan MIRO (1893-1983). 1.4%
22. Yoshitomo NARA (1959-). 1.3%
23. CUI Ruzhuo (1944-). 1.3%
24. Jean DUBUFFET (1901-1985). 1.2%
25. Lucio FONTANA (1899-1968). 1.1%
26. BANKSY (1974-). 1.1%
27. Amedeo MODIGLIANI (1884-1920). 1.1%
28. Joan MITCHELL (1925-1992). 1.1%
29. Henri MATISSE (1869-1954). 1.0%
30. Fernand LEGER (1881-1955). 1.0%
31. Wassily KANDINSKY (1866-1944). 1.0%
32. Paul CEZANNE (1839-1906). 1.0%
33. Ed RUSCHA (1937-). 0.9%
34. Pierre-Auguste RENOIR (1841-1919). 0.9%
35. CHU Teh-Chun (1920-2014). 0.9%
36. Peter DOIG (1959-). 0.9%
37. George CONDO (1957-). 0.8%
38. PAN Tianshou (1897-1971). 0.8%
39. Christopher WOOL (1955-). 0.8%
40. Franois-Xavier LALANNE (1927-2008). 0.8%
41. KAWS (1974-). 0.7%
42. LIN Fengmian (1900-1991). 0.7%
43. Jeff KOONS (1955-). 0.7%
44. Pierre SOULAGES (1919-2022). 0.7%
45. Henry MOORE (1898-1986). 0.6%
46. Frank STELLA (1936-). 0.6%
47. Keith HARING (1958-1990). 0.6%
48. Edgar DEGAS (1834-1917). 0.6%
49. Camille PISSARRO (1830-1903). 0.6%
50. Robert RAUSCHENBERG (1925-2008). 0.6%
51. Paul GAUGUIN (1848-1903). 0.6%
52. PU Ru (1896-1963). 0.6%
53. Morton Wayne THIEBAUD (1920-2021). 0.6%
54. ZHOU Chunya (1955-). 0.6%
55. Richard PRINCE (1949-). 0.5%
56. Sigmar POLKE (1941-2010). 0.5%
57. ZENG Fanzhi (1964-). 0.5%
58. Louise BOURGEOIS (1911-2010). 0.5%
59. Rudolf STINGEL (1956-). 0.5%
60. Damien HIRST (1965-). 0.5%
61. Paul SIGNAC (1863-1935). 0.5%
62. Constantin BRANCUSI (1876-1957). 0.5%
63. LIU Ye (1964-). 0.5%
64. Tsuguharu FOUJITA (1886-1968). 0.4%
65. Georgia O'KEEFFE (1887-1986).
0.4%
66. Georg BASELITZ (1938-). 0.4%
67. Auguste RODIN (1840-1917). 0.4%
68. Whan-Ki KIM (1913-1974). 0.4%
69. Salvador DALI (1904-1989). 0.4%
70. Fernando BOTERO (1932-). 0.4%
71. Ufan LEE (1936-). 0.4%
72. Nicolas DE STAL (1914-1955). 0.4%
73. Jasper JOHNS (1930-). 0.4%
74. Ernst Ludwig KIRCHNER (1880-1938). 0.4%
75. Adrian GHENIE (1977-). 0.4%
76. Norman Perceval ROCKWELL (1894-1978). 0.4%
77. Bernard BUFFET (1928-1999). 0.4%
78. Albert OEHLEN (1954-). 0.4%
79. Sam FRANCIS (1923-1994). 0.4%
80. Helen FRANKENTHALER (1928-2011). 0.3%
81. ZHANG Xiaogang (1958-). 0.3%
82. Donald JUDD (1928-1994). 0.3%
83. DONG Qichang (1555-1636). 0.3%
84. WU Hufan (1894-1968). 0.3%
85. Takashi MURAKAMI (1962-). 0.3%
86. Brice MARDEN (1938-). 0.3%
87. Agnes MARTIN (1912-2004). 0.3%
88. Egon SCHIELE (1890-1918). 0.3%
89. Pierre BONNARD (1867-1947). 0.3%
90. Kazuo SHIRAGA (1924-2008). 0.3%
91. Yves KLEIN (1928-1962). 0.3%
92. Tamara DE LEMPICKA (1898-1980). 0.3%
93. Francis PICABIA (1879-1953). 0.3%
94. Max ERNST (1891-1976). 0.3%
95. Gustav KLIMT (1862-1918). 0.3%
96. Ellsworth KELLY (1923-2015). 0.3%
97. Jean-Paul RIOPELLE (1923-2002). 0.3%
98. Robert MOTHERWELL (1915-1991). 0.3%
99. WEN Zhengming (1470-1559). 0.3%
100. Tom WESSELMANN (1931-2004). 0.3%
Images:
[https://imgpublic.artprice.com/img/wp/sites/11/2023/01/image1-artprice100-vs-sp500.png]
[https://imgpublic.artprice.com/img/wp/sites/11/2023/01/image2-artprice-global-index.png]
Copyright 1987-2023 thierry Ehrmann www.artprice.com
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Artmarket is a global player in the Art Market with, among other
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Artprice releases its 2022 Ultra-Contemporary Art Market
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The Artprice 2022 half-year report: the art market returns to
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https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com
Artprice by Artmarket's 2020 Global Art Market Report published
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Artprice's 2020/21 Contemporary Art Market Report by
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