Mei Moses Art YTD Art Index and Tracking Report

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Mei Moses Fine Art Indexes/Beautiful Asset Advisors have recently released their July/Year to Date tracking report for World All Art Index.  

Unfortunately, the results are not positive especially when compared to the strength in the equities markets.  The All World Art Index is showing a YTD (through July) of 4.3%.

Mei Moses/Beautiful Asset Advisors report 

WEAK JULY AUCTION SALE RESULTS MOVES WORLD ART AUCTION MARKET DEEPER INTO THE RED.  U.S. EQUITIES REMAIN NEAR THEIR ALL TIME HIGHS YIELDING ANOTHER DATA POINT SUPPORTING ARTS LOW ANNUAL AND SEMI ANNUAL CORRELATION WITH EQUITIES.

THE WORLD WIDE AUCTION ART MARKET IN JUNE SHOWED A WEAKENING RESPONSE TO GLOBAL ECONOMIC AND STOCK MARKET VOLATILITY.  THE YEAR TO DATE DECLINE OF 4.3% IN THE MEI MOSES® WORLD ALL ART INDEX THROUGH JULY MOVES IT BACK TOWARDS ITS LOW POINT OF THE YEAR.  THIS IS A DETERIORATION IN THE JUNE RESULTS OF NEGATIVE 2.8%

July is one of the slowest months of the annual international auction year. All but one of the sales took place in London where Old Master (OM19C) and British Painting (BP) sales were featured exclusively.  There was a break in tradition with a single July Post War sale offered in New York. Our data collection and reporting efforts based on 13 Sotheby’s and Christie’s world wide auctions that occurred in July  produced 265 repeat sale pairs representing three collecting categories.

These pairs allowed us to create the Mei Moses® world all art tracking index for July 2013 which produced the aforementioned -4.2% loss as compared to the closing value for year end 2012.  We need to point out that the tracking result is based on the assumption that all the pairs collected to date in 2013 are used to estimate the year end result assuming no other pairs are added to the database throughout the remainder of 2013.  Thus the July tracking result would be the calculated year end result based on that assumption.

Source: Mei Moses/Beautiful Asset Advisors