New Star in the Global Art Industry Rises from the East (Expect IPO in 2012) or How the Chinese People Liberation Army Built the World’s Third Largest Auction House in Just 6 Years

July 26, 2011

Since last year, Skate’s has argued that it would make considerable sense for Christie’s to go public in 2011 given the generous valuation multiples in the art industry. The momentum, at least for this year, has been lost for Christie’s, as recent global stock market turbulence coupled with a stream of IPO cancellations have made it clear that investors’ appetite for new deals has fallen significantly. Francois Pinault was apparently unable to jump on the IPO bandwagon last year given the previously planned departure of Edward Dolman, the CEO of Christie’s for over 10 years who announced his move to the Qatar Museums Authority earlier this summer. Christie’s is now unlikely to entertain any plans for an IPO in the immediate future as it digests the leadership change. The only art industry firm that benefited from the great window of opportunity was Poland’s Abbey House, which successfully listed in Warsaw in May, as well as Switzerland’s MCH Group, which completed a new issue this summer.

There is an interesting new story to tell, however, as Skate’s has learned that the next art industry IPO will take place in China and will be made by Poly International Auction. Should the IPO take place as we expect, it would create the world’s second largest publicly traded art industry company after Sotheby’s.

To read the full article with data, please click here.


Lucian Freud—Previously the World’s Third Most Valuable Living Artist—Passed Away on July 20. Freud Now Ranks #30 in the Pantheon of World’s Most Valuable Artists

July 25, 2011

Three of the World’s Ten Most Valuable Living Artists are Now Chinese

Scarcely two weeks after the death of Cy Twombly, another living artist—Lucian Freud—has passed away. Both artists saw an extraordinarily successful final auction season that relentlessly pushed their names up the value chain of the global art market’s premium segment. At the time of Twombly’s death, he was the world’s 6th most valuable living artist. Lucian Freud, who was 88 when he passed away, was the 3rdmost valuable living artist . Freud now ranks as the 30th most valuable artist based on nominal auction prices.

To read the full article with data, please click here.


Cy Twombly, the World’s 6th Most Valuable Living Artist, Passed Away Yesterday, July 5, 2011 in Rome, Italy

July 6, 2011

Cy Twombly, the world’s 6th most valuable living artist and 49th most valuable artist overall, has passed away yesterday at the age of 83, some 56 days after seeing an all-time record for his art set at Christie’s New York auction in May of this year.

With 28 artworks listed in Skate’s Top 5000 , Twombly has seen over US $200 million being paid for his art at auctions during his lifetime (his more valuable artworks eligible for Skate’s Top 5000 alone being worth $136 million at the day of Twombly’s death).

To read the full article with data, please click here.


Monthly Art Investment Ideas from Skate’s Art Market Research: July 2011

July 3, 2011

Welcome to the July issue of Skate’s Art Investment Review. As always, our coverage is focused on the universe of 665 global artists whose artworks are represented in Skate’s Top 5000 database, which is comprised of the world’s most valuable art according to auction prices. To learn more about Skate’s Top 5000 and the artworks and artists represented, please visit http://www.skatepress.com.

In this issue:

  • Skate’s Rating News in June, including Repeat Sales, Chinese Sales and Russian Sales
  • Old Masters, Overview of the Market
  • Top 3 Art Investment Ideas for July 2011
  • Skate’s Art Stocks Index

To download the full issue, please click here.


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