The index of "blue chips" Artprice100 2019 is still superior to the S&P 500 in the long run
ARTinvestment.RU   20 декабря 2019

In spite of all pessimistic assessments of what is happening on the art-рынке this year, the final figures of the annual turnover of top-100 artists Artprice's not so terrible picture: in 2019 the index Artprice100 grew by 3.3 %

Us stock markets were very busy this year: the S&P 500 started the year with 2,510 points and reached 3,190 points in this Tuesday, 17 December 2019, registering a growth of 26.2% over the last 12 months.

During the same period, the value of the works of artists — "blue chips" at art-рынке grew by only 3.3 %. And let the growth rate of the index of artists is much more moderate than the S&P 500, but it is still a positive result, which is the result of two completely different, in terms of quantity and quality of sales work on the art-рынке, half.

the First half of the year was marked by several impressive auction records in new-Йорке, London and Hong Kong. These records have raised the average prices for several key artists — "centenarians" list Artprice100 such as Claude Monet, Paul Cezanne, Andy Warhol and Jeff Koons. And in fact these sales have whet the appetite of collectors to buy works of the first names on auction spring — summer of 2019. As a result, by the end of the first half of this year the index Artprice100 showed an increase of 16 %, more-менее consistent with the schedule of growth of the index's&P 500, which over the same period rose by 18 %.

In the second half of 2019, the number of offers work of the highest price category in the secondary market has decreased significantly. Especially clearly seen on the example put up for auction of the works of Pablo Picasso. The sales market Spanish painter, which accounts for 9.1% of the total turnover Artprice100, fell by 8 %, if we look at the average price. However, this decline is not so much the result of low sales in the second half of the year, as a consequence of record-high results achieved last year and are very good sales in the first half of 2019. In 2018 the turnover of the auction of Pablo Picasso's rose to previously unattained height, reaching us $745 million last year bar $10 million hammer price crossed from 13 works of his authorship, while this year prices could reach "only" 5 of his work in the first half of the year, whereas in the second half of 2019-го to 8-значного threshold got only one job.

unfortunately, the best auction results in the second half of 2019 did not affect the index, as the new star market — is the same Banksy, for example, — have not yet entered into its composition. The same, however, applies to the record sales figures of some of the old masters that shook the French auction rooms in the second half of the year: Cimabue, Artemisia Gentileschi etc. These artists obviously still too rare for the market to be considered "blue chips" have at least some-то statistics.

And it was during this period, when the art-рынке there is a shortage of quality supply the first names of art-рынка (what is that — a separate issue), it is particularly important that the market continues its growth.

This result once again confirms the sustainability art-рынка compared to markets in other, more traditional, financial assets in periods of ongoing financial crises and the General uncertainty in the markets. So, during the crisis of subprime loans following the collapse of Lehman Brothers in 2008, S&P 500suffered serious losses, while Artprice100 only lost a quarter of its value.

fortunately, 2020 allows us to be optimistic about future growth, art-рынка. Among the many reasons that makes it safe to expect new record results, can be called, for example, the impending sale of estimated a minimum in $1 billion art collection of Linda and Harry macklow. Entering the market of work of this quality, no doubt, should stimulate the growth of average prices for many "blue chip" art-рынка.

the Material was prepared by Maria Kuznetsova, AI

Source: prnewswire.co.uk