Monday, August 19, 2019
Artprice100(C): The Art Market's Blue-chip Artists Yield Nearly as Much as the Top Performing Companies in the American Economy
  SocialTwist Tell-a-Friend  

PARIS, July 15, 2019 /PRNewswire/ -- thierry Ehrmann, Artprice's founder/CEO, highlights the art market's excellent performance in H1 2019: "A collector who, at the start of this year, invested in the 100 most successful artists of the last five years (2014-2018), would already be looking at a value accretion of almost a sixth in the value of his/her portfolio."

Artprice100 © versus S&P 500 since 2000

The Artprice100 © index gained +16% over the first half of 2019 while the S&P 500 added +18% over the same period. The similarity in the performances between the American financial markets and a portfolio of works by the world's top performing artists (defined in a purely objective manner) proves the undeniable attractiveness of the Art Market as an alternative investment.

Fewer transactions

The performance of the Artprice100 © over the first half of 2019 was driven by exceptionally strong demand, barely satisfied by supply. The supply/demand imbalance, generated a rapid increase in value, particularly on works by the 100 top performing artists on the global secondary art market.

The turnover slowdown recorded in H1 2019 by major auction houses, including Sotheby's (-9%) and Christie's (-28%), reflects a less dynamic high-end market than in previous years. However, prices have shown no signs of fatigue and the contraction in the volume of sales is a reminder that the art market is directly dependent on the number of works in circulation.

In a financial context of sustained negative or near-zero refinancing rates, some collectors are probably preferring to hold certain artworks and not cash in on investments that remain highly competitive. Moreover, the persistence of extremely high transaction costs, both in galleries and in auction rooms, is discouraging short holding periods (under five years), and tempting some collectors to consider private transactions as an alternative.

The Artprice100 © index driven by Warhol, Zao Wou-Ki and Wu Guanzhong

Heavily weighted in our Artprice100 © index with 9.1% of the portfolio, Pablo Picasso has not contributed to its value accretion for several years. As we have seen over the last four years, his prices contracted -2% in the first half of 2019.

However, Andy Warhol, Fu Baoshi, Zao Wou-Ki and particularly Wu Guanzhong have all clearly enjoyed value accretion, providing the main thrust for the progression of our Artprice100 © index in H1 2019. Without setting any new auction records, these artists have all enjoyed strong price inflation. The sale of major works by these artists will no doubt confirm the trend.

On 2 June last, a large drawing by Wu Guanzhong entitled Lion grove garden (1988) fetched $20.8 million at China Guardian. It was previously acquired for $17.8 million on 3 June 2011 at Poly Beijing. Adding 17% over the last eight years, the drawing generated, in financial terms, an average annual return of +1.9%. However, another Guanzhong resale suggests that the bulk of the value accretion on his works has occurred in the last 6 months: an important Guanzhong work entitled Two Swallows was purchased for $7.1 million on 3 June 2011 (at the same sale as Lion grove garden) and fetched $7.8 million in December 2018, an increase of just +9.8%.

Paul CĂ©zanne and George Condo

Investments in Modern artists carry the least risk and demand for their work is continuing to grow steadily offering attractive returns over the long term. Claude Monet and Paul Signac have both signed new auction records this year. Similarly, 2019 is already proving to be a superb year (the best since 2000) for Paul CĂ©zanne. His painting Bouilloire et fruits (c. 1888-90), acquired for $29.5 million in 1999, fetched $59.3 million on 13 May 2019 at Christie's New York, generating an average annual ROI of 3.6% over 20 years.

At the other end of the spectrum, Contemporary artists offer striking returns in the medium and short term. The most spectacular entry into the composition of the Artprice100 © index this year is undoubtedly George Condo. The American artist enjoyed a massive secondary market success in 2018with 78 paintings and 34 drawings selling for more than $63 million, and on three continents (America, Europe and Asia)! The Condo phenomenon has been clearly illustrated by a number of rapid resales of small works including Soft Green Abstraction (1983), which was purchased for $17,000 in April 2017 in Munich and resold a year later in New York for $46,000.

In total, there were seven changes this year in the composition of the Artprice 100 © index.



George Condo

Huang Binhong

Giorgio Morandi

Huang Zhou

Robert Motherwell

Anish Kapoor

Jean Paul Riopelle

Li Keran

Rufino Tamayo

Xu Beihong

Frank Auerbach

Pieter Brueghel II

Hans Arp

Giorgio de Chirico

Four women... and two Old Masters

Unfortunately, we see no change regarding female artists. This year again, only four of the artists in the Artprice100 © are women: Yayoi Kusama (Japan), Joan Mitchell (US), Louise Bourgeois (France) and Barbara Hepworth (UK). Yayoi Kusama now represents 1.3% of the index compared with 0.9% last year. Her price index rose 20% in H1 2019.

The relegation of Pieter Brueghel II for reasons relating to market liquidity has exacerbated the rarity of Old Masters in the index. Numerically, the composition of the index is dominated by Modern artists, numbering 49, followed by Post-War artists (29), Contemporary artists (12), 19th century artists (8) and lastly... Old Masters (only 2).

Composition of Artprice100 © index for H1 2019

Artist  - Share - Period

  1. Pablo PICASSO (1881-1973) - 9.1% - Modern
  2. Andy WARHOL (1928-1987)  - 6.4% - Post-War
  3. Claude MONET (1840-1926) - 4.5%  -  19th Century
  4. QI Baishi (1864-1957) -  3.9%  -  Modern
  5. Jean-Michel BASQUIAT (1960-1988)  -  3.7% -  Contemporary
  6. Gerhard RICHTER (b. 1932) -  3.3%  -  Post-War
  7. ZAO Wou-Ki (1921-2013)  -  2.9% -  Post-War
  8. FU Baoshi (1904-1965)  -  2.5%  -  Modern
  9. Alberto GIACOMETTI (1901-1966) - 2.4%  -  Modern
  10. Amedeo MODIGLIANI (1884-1920)  -  2.2% -  Modern
  11. Cy TWOMBLY (1928-2011) - 2.2% -  Post-War
  12. WU Guanzhong (1919-2010)  -  2.1%  -  Modern
  13. Roy LICHTENSTEIN (1923-1997)  -  2.0% -  Post-War
  14. Lucio FONTANA (1899-1968)  -  1.9% -  Modern
  15. Alexander CALDER (1898-1976)  -  1.8% -  Modern
  16. Marc CHAGALL (1887-1985)  -  1.8% -  Modern
  17. Joan MIRO (1893-1983) -  1.7% -  Modern
  18. Willem DE KOONING (1904-1997) - 1.7% -  Modern
  19. Henri MATISSE (1869-1954)  - 1.5% -  Modern
  20. Fernand LÉGER (1881-1955)  - 1.4% -  Modern
  21. Christopher WOOL (b. 1955) 1.4% -  Contemporary
  22. Yayoi KUSAMA (b. 1929)  -  1.3% -  Post-War
  23. Jean DUBUFFET (1901-1985)  -  1.3%  -  Modern
  24. RenĂ© MAGRITTE (1898-1967)  -  1.2% -  Modern
  25. Peter DOIG (b. 1959) -  1.2% -  Contemporary
  26. Wassily KANDINSKY (1866-1944) -  1.2% -  Modern
  27. Jeff KOONS (b. 1955)  - 1.2%  -  Contemporary
  28. David HOCKNEY (b. 1937) - 1.1%  -  Post-War
  29. Henry MOORE (1898-1986)  - 1.0% -  Modern
  30. LIN Fengmian (1900-1991)  -  0.9%  -  Modern
  31. CHU Teh-Chun (1920-2014)  - 0.9%  -  Post-War
  32. Paul GAUGUIN (1848-1903)  -  0.9%  -  19th Century
  33. Pierre-Auguste RENOIR (1841-1919)  -  0.8%  -  19th Century
  34. SAN Yu (1895-1966) - 0.8% -  Modern
  35. Richard PRINCE (b. 1949) -  0.8%  -  Contemporary
  36. Sigmar POLKE (1941-2010)  - 0.7%  -  Post-War
  37. Joan MITCHELL (1926-1992)  -  0.7%  -  Post-War
  38. PU Ru (1896-1963)  -  0.7%  -  Modern
  39. Auguste RODIN (1840-1917) -  0.7% -  19th Century
  40. Edgar DEGAS (1834-1917)  -  0.7% -  19th Century
  41. Paul CÉZANNE (1839-1906) -  0.7%  -  19th Century
  42. Yves KLEIN (1928-1962)  -  0.6% -  Post-War
  43. Camille PISSARRO (1830-1903)  -  0.6%  -  19th Century
  44. Richard DIEBENKORN (1922-1993)  -   0.6%  -  Post-War
  45. Ed RUSCHA (b. 1937)  - 0.6%  - Post-War
  46. Keith HARING (1958-1990) - 0.5% - Contemporary
  47. Martin KIPPENBERGER (1953-1997)  - 0.5% -  Contemporary
  48. Louise BOURGEOIS (1911-2010)  - 0.5% -  Modern
  49. Alberto BURRI (1915-1995) - 0.5%  - Modern
  50. Frank STELLA (b. 1936)  - 0.5% -  Post-War
  51. Damien HIRST (b. 1965)  - 0.4% - Contemporary
  52. Egon SCHIELE (1890-1918) - 0.4% -  Modern
  53. Ernst Ludwig KIRCHNER (1880-1938)  - 0.4% - Modern
  54. Georges BRAQUE (1882-1963) -  0.4% -  Modern
  55. Georg BASELITZ (b. 1938)  - 0.4% - Post-War
  56. Pierre SOULAGES (b. 1919) -  0.4%  - Modern
  57. Juan GRIS (1887-1927) - 0.4% - Modern
  58. Salvador DALI (1904-1989) - 0.4% -  Modern
  59. Edvard MUNCH (1863-1944)  -  0.4%  -  Modern
  60. Paul SIGNAC (1863-1935)  -  0.4%  -  Modern
  61. DONG Qichang (1555-1636) - 0.4% -  Old Master
  62. Fernando BOTERO (b. 1932) -  0.4% - Post-War
  63. WEN Zhengming (1470-1559)  - 0.4% -  Old Master
  64. George CONDO (b. 1957)  -  0.4%  -   Contemporary
  65. Sam FRANCIS (1923-1994)  - 0.4%  -  Post-War
  66. Alighiero BOETTI (1940-1994) -  0.4% - Post-War
  67. Bernard BUFFET (1928-1999)  - 0.4%  - Post-War
  68. Max ERNST (1891-1976)  -  0.4% -  Modern
  69. Robert RAUSCHENBERG (1925-2008) -  0.4% -  Post-War
  70. CHEN Yifei (1946-2005)  - 0.3% -  Contemporary
  71. Maurice DE VLAMINCK (1876-1958) - 0.3%  -  Modern
  72. Barbara HEPWORTH (1903-1975)  - 0.3% - Modern
  73. Pierre BONNARD (1867-1947)  - 0.3%  - Modern
  74. Donald JUDD (1928-1994)  - 0.3% -  Post-War
  75. Max BECKMANN (1884-1950)  -  0.3%  - Modern
  76. Tsuguharu FOUJITA (1886-1968)  - 0.3% -  Modern
  77. Alfred SISLEY (1839-1899)  - 0.3%  - 19th Century
  78. Laurence Stephen LOWRY (1887-1976)  - 0.3%  - Modern
  79. Morton Wayne THIEBAUD (b. 1920)  - 0.3% -  Post-War
  80. Nicolas de STAĂ‹L (1914-1955)  - 0.3%  - Modern
  81. Enrico CASTELLANI (1930-2017) - 0.3%  - Post-War
  82. Anselm KIEFER (b. 1945) - 0.3%  - Contemporary
  83. Michelangelo PISTOLETTO (b. 1933)    - 0.3%  - Post-War
  84. GUAN Liang (1900-1986)  -  0.3% - Modern
  85. Kees VAN DONGEN (1877-1968)  -  0.3% - Modern
  86. Francis PICABIA (1879-1953)  - 0.3%  -  Modern
  87. Piero MANZONI (1933-1963)  - 0.3% - Post-War
  88. Tom WESSELMANN (1931-2004)  -  0.3%  -  Post-War
  89. Giorgio MORANDI (1890-1964)  -  0.3% -  Modern
  90. GĂĽnther UECKER (b. 1930)  - 0.2%  -  Post-War
  91. Josef ALBERS (1888-1976)  - 0.2% -  Modern
  92. Robert MOTHERWELL (1915-1991)  - 0.2% -  Modern
  93. Rufino TAMAYO (1899-1991) - 0.2% -  Modern
  94. Hans ARP (1886-1966)  - 0.2% -  Modern
  95. Emil NOLDE (1867-1956)  -  0.2% - Modern
  96. Paul KLEE (1879-1940)  - 0.2% - Modern
  97. Jean-Paul RIOPELLE (1923-2002) -  0.2% -  Post-War
  98. Alexej VON JAWLENSKY (1864-1941)  - 0.2% -  Modern
  99. Albert OEHLEN (b. 1954)  - 0.2%  - Contemporary
  100. Frank AUERBACH (b. 1931)  - 0.2% - Post-War

Copyright ©2019 thierry Ehrmann –  â€“

About Artprice:

Artprice is listed on the Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.

Founded by thierry Ehrmann (see Who's who certified Biography ) (c)

Dicover Artprice in video:

Artprice is the global leader in art price and art index databanks. It has over 30 million indices and auction results covering more than 700,000 artists. Artprice Images ® gives unlimited access to the largest Art Market resource in the world: a library of 126 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice's art historians.

Artprice permanently enriches its databanks with information from 6,300 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 7,200 international press publications.

For its 4,500,000 members, Artprice gives access to the world's leading Standardised Marketplace for buying and selling art. Artprice is preparing its blockchain for the Art Market. It is BPI-labelled (scientific national French label) Artprice's Global Art Market Annual Report for 2018 published last March 2019:

Artprice is associated with Artron Group the Chinese leader in the Art Market, its solid institutional partner.

About the Artron Group:

Partners since 2009, in 2018, Artron and Artprice signed a historic agreement to create a "New Silk Road for Art". This initiative is perfectly coherent with China's "One Belt, One Road" (OBOR) or "Belt and Road Initiative" (BRI) launched in 2013 and known in Europe as the "New Silk Road".

"Artron Art Group (Artron), a comprehensive cultural industrial group founded in 1993 by Wan jie, is committed to inheriting, enhancing and spreading art value. Based on abundant art data, Artron provides art industry and art fans with professional service and experience of quality products by integrated application of IT, advanced digital science and innovative crafts and materials.

Having produced more than 60,000 books and auction catalogues, Artron is the world's largest art book printer with a total print volume of 300 million a year. It has more than 3 million professional members in the arts sector and an average of 15 million daily visits, making it the world's leading art website."

Artron's Web:

Artprice's Contemporary Art Market Annual Report for 2018 - free access at:

Artprice's press releases:

Artmarket News:  &  4,4 million subscribers

Discover the Alchemy and the universe of Artprice, which headquarters are the famous Museum of Contemporary Art, the Abode of Chaos:

The Contemporary Art Museum The Abode of Chaos  3.9 million subscribers

Artprice Logo

Logo -  
Photo -

Contact: Thierry Ehrmann,

More News by PR Newswire India

Second Edition of TechLaw.Fest Addresses Challenges Surrounding Data Access and Control, Data Security, 5G, and the Role of Data in Commerce

BloombergNEF Awards Sungrow a 100% Bankability Rating

"Borderline" Becomes Southeast Asia's First Contemporary Artwork to be Acquired by France's Guimet Museum

Global market of dietary supplement is welcoming a rising star GLYMATE

Artprice by Art Market: Latest Auction Records in Photography

Sungrow Supplies Argentina's Largest Solar Plant with 1500Vdc Central Inverter Solutions

Over 120 Exhibitors From 10 Countries to Participate in Food & Hotel India 2019

SOTC Launches Holidays to Western Australia

Sonata Software Limited Announces Partnership With Agastya International Foundation to Support Creativity and Innovative Thinking in Rural Schools

Garuda Mall Presents Bengaluru's Biggest Doll and Book Festival August 2019

IIHM Initiative for 'Freedom From Hunger' on Independence Day

Xinhua Silk Road: Tasly remains China's 2019 National Tech Innovation Demonstration Enterprise

The Garment Manufacturers Association in Cambodia (GMAC) urges the EU to maintain the EBA program - The livelihood of 750,000 workers and the welfare of some 3 million Cambodians at stake

Venus Concept Announces Financial Results for the Second Quarter and First Six Months of 2019 and FDA 510(k) Clearance of Venus Bliss™

HHL Leipzig Graduate School of Management Confers Honorary Doctorate to Federal Chancellor Angela Merkel

IHG® Hotels & Resorts Serves Up One-of-a-Kind Experiences at 2019 US Open

Earlier Is Better ... New, Patented At-Home Blood Pregnancy Test, Available Exclusively From TAEUS, Offers Human Pregnancy Confirmation Within Days, Rather Than Weeks

Frost & Sullivan Recognizes Proofpoint as the Global Email Security Market Leader for Fifth Consecutive Year

IBC2019: TVU Networks Announces Advances in AI, 4K60fps and HDR Transmission, and Remote Production

Rain Carbon Begins Commissioning Process at New Hydrogenated Hydrocarbon Resins Facility in Germany

AntWorks and Everest Group Unveil Intelligent Document Processing Playbook

Charkit Chemical Announces Promotion Of Panos Yannopoulos To Executive Vice President, Sales

FDA Approves New Treatment for Highly Drug-Resistant Forms of Tuberculosis

Grammy Winning and Multi-Platinum Recording Artist Ariana Grande Launches Her New Fragrance THANK U, NEXT

Amplitude launches Engage, a behavioral targeting solution for automated campaign personalization

Webb Fontaine Group FZ-LLC Signs a National Single Window Implementation Contract With the Government of Nepal

upGrad Honours the Indian Armed Forces With an Exclusive Lifelong Benefit, This Independence Day

Mishtann Foods Reports 22.1% Increase in Q1FY2020 PAT at INR 3.14 Crore

Gyrfalcon's Cutting-edge Technology for Creating AI Accelerator Chips Commended by Frost & Sullivan

Rolls Royce's Ghost Zenith Collection, the Pinnacle of a Timeless Masterpiece

CleverTap Helps GiftAMeal Increase the Number of Meal Donations by 2x

TĂśV SĂśD South Asia Introduces Promotional Scheme Offering Testing Services With 8- hours Turnaround Time for Textile Manufacturers in Tiruppur

Over 300 Exhibitors & 650 Brands From Gems & Jewellery Industry to Participate in 8th Edition of Delhi Jewellery and Gem Fair ( DJGF ) 2019

9stacks Wins the SuperStartup Asia Award 2019

Mobileum Inc. Acquires WeDo Technologies

true balance and ICICI Lombard Partner to Provide Financial Inclusion to the Next Billion

Ashraya Hastha Trust Partners With Smile Train India to Boost Cleft Care Ecosystem in India

Radio Nasha Celebrates 25 Years of 'Hum Aapke Hain Koun' at Nasha Premiere Nights

Bitfinex Enables Intermediate Verification Level

Small-satellites and Downstream Digital Transformation Accelerate Space Industry Evolution

Uflex Starts Q1 FY2019-20 With a Steady Performance

Vanita Bhandari Takes Over as 50th President of IMC's Ladies' Wing

Jet Midwest, Inc. Acquires a B767-200ER airframe and CF680A-2 engine

42Gears Named as a Visionary in Gartner's Magic Quadrant for Unified Endpoint Management Tools 2019

Richardson Launches Enhanced Service Through Consultative Sales Training Program to Equip Service Professionals with Skills to Deliver Exceptional Customer Experience & Unexpected Value

Chef Clement D'Cruz of Hyatt Joins IIHM Panel of Experts

Voltaiq Applauded by Frost & Sullivan for its Game-changing Battery Analysis Platform, Voltaiq Core, and Innovative Battery Digital Twin Solution

Private and SME Segments Stand Out Globally as Key Targets for Car Leasing Companies

ITC Infotech and 'Automation Anywhere' Pioneer Digital Workforce

Clarivate Analytics launches Cortellis Digital Health Intelligence, a first-of-its-kind solution covering the global digital health ecosystem

Combined Surgical Suction/Irrigation Technology Available Immediately

FDI Applications More Than Doubled in First Half of 2019, Thailand BOI says

Mambu Earns Acclaim from Frost & Sullivan for Accelerating Customers' Time-to-market with its Cloud-based Core Banking Platform

Mukta Arts' Q1 FY20 Consolidated Revenues up 40% y-o-y to INR 47.9 Crore

Prozone Intu's Q1 FY20 Consolidated Revenues up 31.4% to INR 22.3 Crore

Companies Invest Heavily in Employee Health Management IT Solutions to Improve Employees' Well-Being and Corporate Performance

Sofyx & Servify Team Up to Launch Protection Plans for Smartphones in General Trade

OPPO Announces Discounts on F11 Pro and F11 This Independence Day

udChalo Forays Into the Hotel Segment by Partnering With Oyo and Fab Hotels

One Tree Can Save the World - InitiativeTree Launches Its Worldwide Network Tree Planting Program

Global Construction Additives Market Set for Robust CAGR of 6.6% from 2018 to 2025

The Farm at San Benito, Philippines Offers Special Monsoon Packages for Indian Travellers

Saksoft Q1Y20 EBITDA at Rs. 16.17 Crs, a Growth of 40.2% Y-o-Y

UST Global Announces Strategic Partnership With SeaLights Technologies

Pennar Industries Reports 25.8% y-o-y Increase in Q1 FY2020 Consolidated PAT After Minority Interest at INR 16.5 Crore

Global Alliance for the Future of Food Report: 21 Inspiring Examples of a Sustainable Food Future

New Review Suggests Normal Use of Electronic Cigarettes is Unlikely to Raise Significant Health Concerns

Conagen Expands Portfolio Beyond Gamma-Decalactone to 20 new non-GMO Lactones

Concept Medical Inc. Granted 2nd 'Breakthrough Device Designation' From the FDA for Its MagicTouch PTA Sirolimus Coated Balloon, for the Treatment of Peripheral Artery Disease (PAD) in Below-the-Knee (BTK) Indication

Betway Partners With Cricket Legend Kevin Pietersen

Higher Levels of Automation Expand Revenue Potential for Analytical Instrumentation Manufacturers

Xinhua Silk Road: Inaugural Fortune Global Sustainability Forum to be held in SW China's Yuxi in early Sept.

Autonomous Vehicle Developers Bet on Sensor Fusion Solutions and L2+ Features

KSB is First Reactor Coolant Pump Manufacturer to be Certified for Modern Nuclear Power Plants in China

Diabetic Patients Face a High Risk of Viral Hepatitis, Over 300 Million Infected HBV Patients are Unaware of Their Status, Says Dr. Nagaraj.S, Infilife Healthcare Pvt. Ltd.

Embassy Office Parks REIT Announces First Quarter FY 2019-20 Results; Reports Quarterly Distribution of Rs 4,167 Million

The Stars Group Reports Second Quarter 2019 Results; Updates 2019 Full Year Guidance; Appoints New Independent Director

Taiwan Tourism Bureau gets on Track With the Mumbai Metro

New Lagavulin 10 Year Old Single Malt Scotch Whisky: A Rare and Exclusive Treat for Travellers

Amity University Maharashtra Hosts its First Annual Convocation Ceremony in Mumbai

Producer Gaurang Doshi has been Instrumental in the Launch and Success of Many Among 'A' List Bollywood; Plans to Launch Ace Talent yet Again

MEIL's Engineering Marvel Converts Telangana's Dream Into a Reality

Deutsche Messe AG Alliance with Donghao Lansheng Group to Launch New Industrial Fairs in Shenzhen and Chengdu from 2020

Children Learn to Become Global Leaders at the 2019 Eye Level Model United Nations Camp

HONOR Vision Defines the Future with HONOR "Sharp Tech" Innovations

116 Young Talents for the 3rd Zhuhai Mozart Competition in September

Triple talaq 'un-Islamic', not supported...
Telangana government neck-deep in corrup...
Telangana: Around 60 prominent TDP leade...
Yediyurappa awaits Shah's nod to expand ...
Malnutrition bigger threat than Maoists:...
Leh's Magnetic Hill: Myth or Real?...
 Top Stories
Over 20 killed in oil tanker explos... 
US condemns 'barbaric' terror attac... 
Ashes: Australia cling on to draw d... 
Pak government presents first anniv... 
Despite bill on triple talaq women ... 
UN chief condemns bomb attack on we... 
UN appeals for more help to allevia... 
C'garh couple accuses nurse of medi...