Artmarket.com: Artprice Global Indices show the strength of Contemporary Art and Drawing in 2020: both segments adapted particularly well to rapid digitization

PR87674

PARIS, Jan. 19, 2021 /PRNewswire=KYODO JBN/ --

As at 1 January 2021, the Artprice Global Indices are stronger actually

stronger than twelve months earlier when the health crisis was still (almost)

unthinkable. Six months ago no-one would have predicted such an outcome! In

reality, the art market reacted quickly to the lockdown measures with auction

houses slowing their high-end activities; but the overall intensity of trading

remained extremely high and the unsold rate remained perfectly stable. The

Contemporary Art price index even shows an extraordinary 48% increase.

Artprice Global Indices (in USD)

Infographic -

https://mma.prnewswire.com/media/1422797/Artprice_Global_Indices_Infographic.jpg

thierry Ehrmann, President and Founder of Artmarket.com and its Artprice

department: "the works that were resold at auction in 2020 generally fetched

better prices. Two segments in particular stood out: works on paper (+55%) and

Contemporary Art (+48%). However, you have to take into account the method used

to calculate our indices and anticipate the fact that they tend to flatten naturally over time".

Auctions and repeat sales

Auction sales correspond to the visible segment of the Art Market and it's

probably the segment that has best adapted to the consequences of the pandemic

by accelerating its switch to an online modus operandi. Artprice's 2020 of the

Art Market Report will soon reveal all the details of this transformation (the

publication of our free report is expected in March 2021).

Artprice's Global Indices are calculated on the basis of a very specific pool

of works: lots which have already been sold at public auction. This method of

calculation (the repeat-sales method) is considered particularly robust, but it

excludes all lots that appear in an auction sale for the first time.

Extraordinary resales

Among the highest value increases recorded in 2020, Artprice was particularly

interested in Banksy's the performance. His acrylic on canvas Weston Super Mare

(1999) was acquired for  $16,700 in 2006 at Sotheby's in London and was resold

for $978,000 in October 2020 at Bonhams in London. The gain corresponds to an

annual return on investment of 34% over 14 years.

Inversely, a small canvas by Raqib Shaw – Untitled (2004) – was acquired for

$91,000 in 2008 at Sotheby's New York, but sold for just $8,750 in 2020 at

Wright in Chicago.

Between its last two appearances at auction, Joan Mitchell's diptych La Grande

Vallee VII (1983) multiplied in value 44 times, from $330,000 in 1989 to $14.5

million in 2020. Joan Mitchell was in fact the most successful female artist at

auction in 2020, but her prices didn't just soar last year. Taking into account

all of her works sold and resold at auction over the years, Artprice estimates

that her prices rose 15% over the last twelve months. This increase is added to

the over 2000% value accretion calculated by Artprice using the same method

between 2000 and 2019 for all of Mitchell's work.

Image : [https://imgpublic.artprice.com/img/wp/sites/11/2021/01/Artprice-Global-Indexes-Update-2020.png ]

Copyright 1987-2021 thierry Ehrmann www.artprice.com - www.artmarket.com

- Don't hesitate to contact our Econometrics Department for your requirements

regarding statistics and personalized studies: econometrics@artprice.com

- Try our services (free demo): https://www.artprice.com/demo

- Subscribe to our services: https://www.artprice.com/subscription

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and

Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.

Discover Artmarket and its Artprice department on video:

https://en.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry

Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur,

created in 1987.

See certified biography in Who's who(C):

https://imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierryEhrmann.pdf

Artmarket is a global player in the Art Market with, among other structures,

its Artprice department, world leader in the accumulation, management and

exploitation of historical and current art market information in databanks

containing over 30 million indices and auction results, covering more than

744,000 artists.

Artprice Images(R) allows unlimited access to the largest Art Market image bank

in the world: no less than 180 million digital images of photographs or engraved

reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis

from 6300 Auction Houses and produces key Art Market information for the main

press and media agencies (7,200 publications). Its 4.5 million 'members log in'

users have access to ads posted by other members, a network that today

represents the leading Global Standardized Marketplace(R) to buy and sell

artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of

Article L 321.3 of France's Commercial Code).

Artmarket with its Artprice department, has been awarded the State label

"Innovative Company" by the Public Investment Bank (BPI) (for the second time

in November 2018 for a new period of 3 years) which is supporting the company

in its project to consolidate its position as a global player in the market art.

Artprice by Artmarket's 2019 Global Art Market Report published in February 2020 :  

https://www.artprice.com/artprice-reports/the-art-market-in-2019

Index of press releases posted by Artmarket with its Artprice department:  

http://serveur.serveur.com/press_release/pressreleaseen.htm

Follow all the Art Market news in real time with Artmarket and its Artprice

department on Facebook and Twitter:

https://www.facebook.com/artpricedotcom/ (4.9 million followers)  

https://twitter.com/artmarketdotcom  

https://twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department

http://web.artprice.com/video headquartered at the famous Organe Contemporary

Art Museum "The Abode of Chaos" (dixit The New York Times):

https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o

https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999

(4.4 million followers)

https://vimeo.com/124643720

Contact Artmarket.com and its Artprice department - Contact: Thierry Ehrmann,

ir@artmarket.com

Logo - https://mma.prnewswire.com/media/1009603/Art_Market_logo.jpg

Source:  Artmarket.com