Beautiful Asset Advisors and Mei Moses Art Index have released their December 2013 World All Art Index, showing a modest year to date increase of 2.3%. It is the highest the index has been since the end of 2011.
The tracking report states
Source: Beautiful Asset Advisors and Mei Moses Art IndexINSIGHTS ON ART MARKET FINANCIAL PERFORMANCE THROUGH
DECEMBER 2013 BASED ON THE MEI MOSES® FAMILY OF ART INDEXES©
JIANPING MEI & MICHAEL MOSES
FAIR DECEMBER AUCTION SALE RESULTS ALLOWS WORLD ART AUCTION MARKET TO CLOSE THE YEAR IN POSITIVE TERRITORY. U.S. EQUITIES REMAIN AT THEIR ALL TIME HIGHS AND EASILY OUTPERFORM ART.
THE WORLD WIDE AUCTION ART MARKET IN DECEMBER SHOWED A CONTINUED LACKLUSTER RESPONSE TO GLOBAL ECONOMIC AND STOCK MARKET GAINS. THE YEAR TO DATE INCREASE OF 2.3% IN THE MEI MOSES® WORLD ALL ART INDEX THROUGH DECEMBER IS A SLIGHT IMPROVEMENT IN THE RESULTS REPORTED IN NOVEMBER OF A INCREASE OF 2.2% IT IS ALSO THE HIGHEST VALUE THE INDEX HAS ATTAINED SINCE THE END OF 2011.©
December is the swan song of the fall auction season. The month featured major sales in New York of American paintings (AP) and Old Master (OLM19C) and British paintings (BP) in London. There were country specific sales for Swiss art in Zurich and small Post War (PWC) sales in Paris and Amsterdam and small Impressionist and Modern (IMPMOD) sale in London. We do not have enough data for Swiss art to create a unique index so we only include these transactions in the All Art category. Our data collection and reporting efforts based on 20 Sotheby’s and Christie’s world wide auctions that occurred in December produced 290 repeat sale pairs representing all but two of our collecting categories. These pairs allowed us to create the Mei Moses® world all art tracking index for December 2013 which produced the aforementioned 2.3% gain as compared to the closing value for year end 2012. We need to point out that our normal tracking result is based on the assumption that all the pairs collected to date are used to estimate the year end result assuming no other pairs are added to the database throughout the remainder of 2013. Since there are no more sales in 2013 the tracking value will be the actual year end value.
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