Mei Moses Mid October Tracking Report

Mike Moses just sent me the BAA (Beautiful Asset Advisors 2010 Mid October Tracking Report of the Mei Moses Family of Fine Art Indexes.  The All Art Index has dropped to 8.16% from the mid year of 13.5%.  The decline is from what has been weak fall art sales in New York.  The All Art Index is still running above and outperforming the S&P 500 total return index of approximately 6%.

With the exception of the Oriental sector, we have seen a bit of a cooling off in prices in many of the fine and decorative art sectors from the strong results seen earlier in the year.  Many markets are now in a state of flux, and it will be interesting to see if they hold, decline or start to increase.  Although full year results are still positive, the Mei Moses mid October report for the All Art Index certainly shows the uncertainty in the art market place.

The Mei Moses report states

The chart clearly shows that the all art index as well as all collecting category indexes, for which there were sales in this latest period, suffered declines from their mid year values. Old master and Latin American index values remained constant since there were no incremental sales in the latest period. However what is obvious is that the Post War and Contemporary remains the strongest collecting category index.

ALL ART INDEX MARKET PERFORMANCE

The mid October 2010 year to date return of 8.16% of the Mei Moses® All Art index is somewhat lower that the approximately 13.5 % mid year value but is still a reversal of the 29% decline for calendar year 2009. The current 2010 increase of the all art index was encouraging given the volatility of the results of most other financial assets. As an example the mid October 2010 value of the S&P 500 total return index (where dividends are reinvested tax free) had only a gain of approximately 6.0 %. Using the current year mid October result as the year end result would produce a compound annual return (CAR) for the last ten years for the all art index of 4.15%, exceeding the returns of stocks which were, 0.5%.

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