New Old Master Additions to Skate’s Top 5000

January 29, 2011

This past week, twelve works entered Skate’s Top 5000 following Christie’s and Sotheby’s auctions of Old Master works.

The most valuable painting was A Sacra Conversazione: The Madonna and Child with Saints Luke and Catherine of Alexandria by Titian (Tiziano Vecelli), which sold at Sotheby’s on January 27 for $16,882,500, including buyer’s premium and against a pre-auction estimate of $15,000,000 to $20,000,000. Following the conclusion of the week’s sales, the painting came in at #231 in Skate’s ranking.

In general, the sales appeared to be healthy, as all of the works sold either within or above their estimate ranges. Some sold for well above their high estimates, one of the most noteworthy of which was Perino del Vaga’s The Holy Family with the Infant Saint John the Baptist, which sold for $2,098,500 against a high estimate of $400,000.

The one repeat sale – Claude Joseph Vernet’s A Mediterranean Harbor at sunset with fisherfolk at the water’s edge, a lighthouse and a man of war at anchor in the bay – achieved a positive investment return of 7.18% when it sold for $2,434,500 against an estimate range of $1,000,000 to $1,500,000. Previously, it had sold in December 2000 for $1,024,822.

Interestingly, the two works that we highlighted in our January 14 issue of Skate’s Market Notes as likely to achieve negative returns – Lucas Cranach II’s Portrait of Lady, Three-Quarter Length, In a Green Velvet and Orange Dress and Pearl- Embroidered Black Hat and Sir Peter Paul Rubens’ The Martyrdom Of Saint Paul – failed to sell this week.

Skate’s introduces free iPAD application – search for SKATE’S in iTunes!

January 17, 2011

Skate’s Art Market Research provides art buyers, sellers and their advisors around the world with reliable and unbiased research supporting art investment decisions.

This application is based on Skate’s proprietary database of the world’s 5,000 most valuable artworks by auction price.

Use Skate’s Top 5000 to build peer groups of comparable artworks, check historical returns and access Skate’s artists and artworks rankings.

Order Artwork Background Reports on any artwork you plan to sell, buy, pledge or lend against.

Potential New Skate’s Top 5000 Entrants in January: Works by Cranach, Rubens and Turner

January 14, 2011

Potential New Skate’s Top 5000 Entrants in January: Works by Cranach, Rubens and Turner
Bad News in Store for Collectors of Lucas Cranach II as the Artist’s First Ever Top 5000 Repeat Sale is Expected to Set a Negative Return Benchmark

We are now less than two weeks away from the first major auctions of 2011 that will test the strength of the global art market’s premium segment.

In this issue of Skate’s Market Notes, we focus on three artworks that are coming to auction later this month and that have a chance to sell above $1.8 million, the current price threshold a work must surpass in order to qualify for entrance into Skate’s ranking of the world’s 5,000 most valuable works of art based on auction prices.

With only one artwork in Skate’s Top 5000 (Lucas Cranach the Elder has 11 artworks on the list) and no repeat sales, the market for Lucas Cranach II is weak. Furthermore, the only reason that Portrait of Lady, Three- Quarter Length, In a Green Velvet and Orange Dress and Pear l – Embroidered Black Hat was able to make the ranking in 2007 was the art market boom that was in full force that year. Clearly an outlier, the price paid at that time ($3.65 million) was nearly double the high estimate and contained at least $2 million of irrational premium according to Skate’s Art Asset Pricing Model.

Click here to view the full article.

2011 Trend Watch: Chinese Collectors, Modern Western Art?

January 3, 2011

Will Chinese Collectors Expand Their Repertoire Beyond Chinese Art?

Last summer, Xinhua reported on mainland China’s billionaire art collectors poised to take the international art market by storm, after an anonymous telephone bidder, believed to be Chinese, purchased a Pablo Picasso work at Christie’s for a record-breaking $106.4 million dollars. The article quoted Ken Yeh, chairman of Christie’s Asia in Hong Kong, as saying: “Chinese mainland buyers have only just started buying impressionist works so there is a lot of potential for this to go a lot further than it already has.” In the same article, Mei Jianping, professor of finance at Cheung Kong Graduate School of Business in Beijing and co-creator of the Mei Moses Fine Art Price Index, compared the nascent trend to the Japanese spending spree during the late 1980s, which helped fuel an increase of more than 200 percent in the Impressionist Art Index charted by Mei Moses Fine Arts. Mei contended that “we could be at the start of another spectacular impressionist boom,” powered by the desire of Chinese collectors to demonstrate their sophistication and stature as great collectors. But Ben Brown of Ben Brown Fine Art in Hong Kong and London was of the opinion that the predicted boom might be mostly hype.

Since then, mainland Chinese collectors have been making splashes at Hong Kong auctions and sales specifically targeted to this clientele…

To read the full article, please visit Jing Daily.


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