Indices art market ARTIMX

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The ARTIMX index family (ARTIMX = ARTInvestment Market indeX, pronounced as “artimex”) is a set of tools for art market analysis.
 

ARTIMX and ARTIMXp Indexes

The ARTIMX index is generated via a unique method developed by the ARTinvestment.RU specialists. It is an integral index that shows the relative price of an average artwork at a specific point in time. The indexes are calculated using data on artwork sales on the main international auctions¹. The benchmark is the average settlement price of artworks in 2000. The base value of the index is 1000 points².

The ARTIMX index family includes the general ARTIMX index that describes the state of the world art market, as well as its subsets ARTIMX Painting and ARTIMX Graphics, calculated in order to describe the market performance of paintings and graphics works respectively. In addition, there are Russian art market indexes: ARTIMX-RUS, ARTIMX-RUS Painting and ARTIMX-RUS Graphics, and also indexes for the specific categories: ARTIMX Old masters, ARTIMX Impressionism & Modern Art, ARTIMX Contemporary Art. When the Russian art market indexes are calculated, the results of Russian auctions are also taken into account.

Physical dimensions of works are taken into account. Data on the sales of works that have been marked with red or yellow Investment risk indicators on the website ARTinvestment.RU is not taken into account.

As well as the price indexes, investors and analysts can also use an additional set of tools – the ARTIMXp index family. The ARTIMXp indexes describe the profitability of artworks. They are analogous to the ARTIMX indexes. These indexes are adjusted for inflation in relation to the benchmark (January 1, 2001) based on the Current Consumer Price Index published by the inflation prediction site Financial Trend Forecaster.

The graphs reflect the temporal progressions of the indexes; the benchmark is either January 2001 (Prices/Profitability since 2001), or the date which is exactly a year earlier than the current date (Prices/Annual Profitability). The basic value for both index families is 1000 points³. For the comparison to be easier, one graph can reflect several chosen indexes.

The charts under the graphs show current index values calculated in relation to the benchmark 1000-point level (as of January 1, 2001). The chart columns are as follows: Name of Index; Date of the latest event (auction), whose data is used to calculate the latest index value⁴; Index value; Change of index in relation to the previous index value; Date of previous event (in brackets).
 

ARTIMXba Index

ARTIMXba Buying Activity Index shows the percentage of the amount of sold lots compared to the amount of lots that had been put up for sale on the main international auctions. On the ARTIMXba graphs it is possible to correlate the curves of the buying activity indexes for the different categories. On the ARTIMX & ARTIMXba it is possible to show the curves of the ARTIMX price indexes and the ARTIMXba buying activity indexes for the chosen category. The chart columns under the ARTIMXba and ARTIMX & ARTIMXba graphs are the same as the ones located under the ARTIMX/ARTIMXp graphs.

Please note. The graphs can be shown only on computers with Adobe Flash Player installed. If you can’t see the graphs on your computer, please download and install Adobe Flash Player.
 

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¹ To calculate the indexes the data on the sales of approximately 4.5 million lots on more than 17 thousand auctions has been processed. Back

² I.e. if at the moment the ARTIMX price index is 3000 points, the average art prices have risen 3 times since the beginning of 2001. Back

³ Please note that in the graphs showing the annual variations of the indexes, all the indexes are calculated separately. For the comparison to be easier they are reduced to the basic value of 1000 points. Therefore the graphs that show the annual variations of the indexes reflect the relative annual price variations or the annual profitability variations, and if the price index on the curve of such a graph is 1200 points at the moment, it means that the annual price growth of artworks of this category has risen 1.2 times. Please note that the annual indexes differ from the indexes that show the variations since 2001 and the mutual position of curves of different indexes on the annual graphs may differ from the matching curves on the graphs that show the index variations since 2001. Back

⁴ The date of the latest index usually is 2-3 days behind the current date, due to delays in publishing of the sales results from the auction houses themselves. Usually the auction results are published the day after the sale, but some auction houses may have 2-3 week delays. Some time is also needed for receiving and processing the data and calculating the indexes. Back