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02.03.2021 14:00:00

Artmarket.com: the Artprice100© index is continuing to grow... +405% since 2000

PARIS, March 2, 2021 /CNW/ -- Artprice's blue-chip artists index, the Artprice100©, actually grew by 1.8% over the past year… a year marked by the almost complete absence of international fairs, but also by the forced transition of galleries and auction houses to a digital modus operandi. And yet… the price of the Art Market's top one hundred artists (by auction turnover) continued to climb, taking its total growth since 2000 to +405%.

Annual change in the Artprice100 © vs. S&P 500 - Base 100 in January 2000

thierry Ehrmann, President and Founder of Artmarket.com and of its Artprice Department: "The resilience of the Art Market in times of crisis is perfectly illustrated by the evolution of our Top-100 benchmark index. The positive performance oftheArtprice100 ©in 2020, although modest, is extremely reassuring. True... it doesn't compare well with the US stock markets (the S&P 500 posted a sensational growth of +16% last year, rising from 3,234 pts to 3,756 pts in twelve months."

While the construction of the Artprice100© is inspired by that of the S&P 500, the two indices nevertheless remain profoundly different and should be compared with caution.

Artprice100© versus S&P 500: warning!

The Artprice100© is designed as a portfolio of artworks representing the one hundred most important artists on the art market (see the composition below). It's a purely theoretical exercise. It is clearly not possible to acquire a share in all the works by an artist that will be auctioned in the coming year. In fact, no-one can even predict which works will hit the secondary market over the next twelve months. But the results as a whole provide an excellent appreciation of the general price evolution for each of these artists.

The composition of the Artprice100© index is based on purely objective criteria. It is established on 1 January of each year on the basis of two criteria, both resolutely independent of any personal preference: a performance criterion and a liquidity criterion. The initial investment is thus made in proportion to the auction performances of the artists over the last five calendar years (2015-2019), on condition, however, that their works are exchanged regularly: at least seven auction appearances per year over a ten-year period (excluding prints).

Analysis of the composition

There are two good reasons for calculating a specific price index for a set of top-selling artists: firstly it allows the analysis of the performance of a well-diversified portfolio, constructed objectively on the basis of the auction results for well-established artists. Secondly, it allows observation of the evolution of the 100 artists who constitute the veritable hardcore of the global Art Market.

Pablo Picasso remains the portfolio's dominant artist with a weight of 8.8% in the initial investment. On the basis of all original works by Picasso sold at auction in 2020, Artprice calculates that his price index increased overall by +2.2% in the twelve months of 2020. This result is perfectly consistent with the overall evolution of the Artprice100©.

Picasso is one of 45 Modern artists included in the composition of the 2020 index. This period of creation is by far the most solid segment of the art market and it represents approximately half of the initial investment.

Distribution of the Artprice100 © in January 2020 by period of creation

As in 2019, only four female artists have qualified for inclusion in the composition of the Artprice100© in 2020: Yayoi Kusama, Joan Mitchell, Louise Bourgeois and Barbara Hepworth. They account for just 3.3% of the portfolio's total value. On the other hand, the number of living artists has increased significantly, thanks to the 'entry' of seven active painters, with only three 'departures' from the composition.

Entries (living artists) ; Lee Ufan, Zhou Chunya, Rudolf Stingel, Zhang Xiaogong, Yoshitomo Nara, Takashi Murakami, Zeng Fanzhi

Departures (living artists) ; Günther Uecker, Frank Auerbach, Michelangelo Pistoletto

Composition of Artprice100© on 1 January 2020 (Rank, Initial weight, Period)

  • Pablo PICASSO (1881-1973) ; 8.8% - Modern
  • Andy WARHOL (1928-1987) ; 5.0% - Post-War
  • Claude MONET (1840-1926) ; 4.7 % - 19th Century
  • Jean-Michel BASQUIAT (1960-1988) ; 3.6% - Contemporary
  • QI Baishi (1864-1957) ; 3.5% - Modern
  • ZAO Wou-Ki (1921-2013) ; 3.3% - Post -War
  • Gerhard RICHTER (1932-) ; 2.8% - Post-War
  • WU Guanzhong (1919-2010) ; 2.4% - Modern
  • FU Baoshi (1904-1965) ; 2.4% - Modern
  • Amedeo MODIGLIANI ( 1884-1920) ; 2.2% - Modern
  • Roy LICHTENSTEIN (1923-1997) ; 2.0% - Post-War
  • Cy TWOMBLY (1928-2011) ; 1.9% - Post-War
  • Alberto GIACOMETTI (1901-1966) ; 1.9% - Modern
  • Lucio FONTANA (1899-1968) ; 1.8% - Modern
  • Marc CHAGALL (1887-1985) ; 1. 7% - Modern
  • Alexander CALDER (1898-1976) ; 1.7% - Modern
  • Joan MIRO (1893-1983) ; 1.6% - Modern
  • Willem DE KOONING (1904-1997) ; 1.6% - Modern
  • David HOCKNEY (1937-) ; 1.5% - Post-War
  • Yayoi KUSAMA (1929-) ; 1.5% - Post-War
  • Jean DUBUFFET (1901-1985) ; 1.4% - Modern
  • René MAGRITTE (1898-1967) ; 1.4% - Modern
  • Henri MATISSE (1869-1954) ; 1.4% - Modern
  • Fernand LÉGER (1881-1955) ; 1.2% - Modern
  • Christopher WOOL (1955-) ; 1.2% - Contemporary
  • Wassily KANDINSKY (1866-1944) ; 1.1% - Modern
  • SAN Yu (1901-1966) ; 1.1% - Modern
  • Jeff KOONS (1955-) ; 1.0% - Contemporary
  • Henry MOORE (1898-1986) ; 1.0% - Modern
  • Peter DOIG (1959-) ; 0.9% - Contemporary
  • Paul GAUGUIN (1848-1903) ; 0.9% - 19th Century
  • Joan MITCHELL (1926-1992) ; 0.9% - Post-War
  • LIN Fengmian ( 1900-1991) ; 0.8% - Modern
  • Ed RUSCHA (1937-) ; 0.8% - Post-War
  • Yoshitomo NARA (1959-) ; 0.8% - Contemporary
  • Pierre-Auguste RENOIR (1841-1919) ; 0.8 % - 19th Century
  • CHU Teh-Chun (1920-2014) ; 0.8% - Post-War
  • Edgar DEGAS (1834-1917) ; 0.7% - 19th Century
  • Auguste RODIN (1840-1917) ; 0.7% - 19th Century
  • PU Ru (1896-1963) ; 0.7% - Modern
  • Robert RAUSCHENBERG (1925-2008) ; 0.7% - Post-War
  • Richard PRINCE (1949-) ; 0.6% - Contemporary
  • Rudolf STINGEL (1956- ) ; 0.6% - Contemporary
  • Frank STELLA (1936-) ; 0.6% - Post-War
  • Sigmar POLKE (1941-2010) ; 0.6% - Post-War
  • Camille PISSARRO (1830-1903) ; 0.6% - 19th Century
  • Louise BOURGEOIS (1911-2010) ; 0.6% - Modern
  • Whan-Ki KIM (1913-1974) ; 0.6% - Modern
  • Paul SIGNAC (1863-1935) ; 0.6% - Modern
  • Yves KLEIN (1928-1962) ; 0.6% - Post-War
  • Keith HARING (1958-1990) ; 0.5% - Contemporary
  • Richard DIEBENKORN (1922-1993) ; 0.5% - Post-War
  • Pierre SOULAGES (1919-) ; 0.5% - Modern
  • George CONDO (1957-) ; 0.5% - Contemporary
  • Norman Perceval ROCKWELL (1894-1978) ; 0.5% - Modern
  • WU Hufan (1894-1968) ; 0.5% - Modern
  • Alberto BURRI (1915-1995) ; 0.4% - Modern
  • Gustav KLIMT (1862-1918) ; 0.4% - Modern
  • ZENG Fanzhi (1964-) ; 0.4% - Contemporary
  • Egon SCHIELE (1890-1918) ; 0.4 % - Modern
  • Damien HIRST (1965-) ; 0.4% - Contemporary
  • Ernst Ludwig KIRCHNER (1880-1938) ; 0.4% - Modern
  • Chaïm SOUTINE (1894-1943) ; 0.4% - Modern
  • Fernando BOTERO ( 1932-) ; 0.4% - Post-War
  • Edvard MUNCH (1863-1944) ; 0.4% - Modern
  • Pierre BONNARD (1867-1947) ; 0.4% - Modern
  • Kazuo SHIRAGA (1924-2008) ; 0.4% - Post-War
  • WEN Zhengming (1470-1559) ; 0.4% - Old Master
  • ZHOU Chunya (1955-) ; 0.4% - Contemporary
  • Morton Wayne THIEBAUD (1920-) ; 0.4% - Post-War
  • Georg BASELITZ (1938-) ; 0.4% - Post-War
  • Salvador DALI (1904-1989) ; 0.4% - Modern
  • Tsuguharu FOUJITA (1886-1968) ; 0.4% - Modern
  • François-Xavier LALANNE (1927- 2008) ; 0.4% - Post-War
  • SHI Tao (1642-c.1707) ; 0.4% - Old Master
  • DONG Qichang (1555-1636) ; 0.4% - Old Master
  • Max ERNST (1891-1976) ; 0.4 % - Modern
  • Sam FRANCIS (1923-1994) ; 0.4% - Post-War
  • Georges BRAQUE (1882-1963) ; 0.4% - Modern
  • Maurice DE VLAMINCK (1876-1958) ; 0.4% - Modern
  • Bernard BUFFET (1928-1999) ; 0.4% - Post-War
  • Peter Paul RUBENS (1577-1640) ; 0.4% - Old Master
  • Ufan LEE (1936-) ; 0.4% - Post-War
  • Francis PICABIA ( 1879-1953) ; 0.3% - Modern
  • Barbara HEPWORTH (1903-1975) ; 0.3% - Modern
  • Albert OEHLEN (1954-) ; 0.3% - Contemporary
  • Anselm KIEFER (1945-) ; 0.3% - Contemporary
  • Giorgio MORANDI (1890-1964) ; 0.3% - Modern
  • Alighiero BOETTI (1940-1994) ; 0.3% - Post-War
  • Robert MOTHERWELL (1915-1991) ; 0.3% - Modern
  • TANG Yin (1470- 1523) ; 0.3% - Old Master
  • GUAN Liang (1900-1986) ; 0.3% - Modern
  • Martin KIPPENBERGER (1953-1997) ; 0.3% - Contemporary
  • Takashi MURAKAMI (1962-) ; 0.3% - Contemporary
  • Donald JUDD (1928-1994) ; 0.3% - Post-War
  • CHEN Yifei (1946-2005) ; 0.3% - Contemporary
  • ZHANG Xiaogang (1958-) ; 0.3% - Contemporary
  • Tom WESSELMANN (1931-2004) ; 0.3% - Post-War
  • David SMITH (1906-1965) ; 0.3% - Modern
  • Josef ALBERS (1888-1976) ; 0.3% - Modern
  • Images:
    [https://imgpublic.artprice.com/img/wp/sites/11/2021/03/Artprice100-vs-SP500-1.png]
    [https://imgpublic.artprice.com/img/wp/sites/11/2021/03/Artprice100-periods-2.png]

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