ART MARKET REPORTS & ANALYSIS

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Larry’s List is honored to present the PRIVATE ART MUSEUM REPORT, the first study on the global setting of privately founded contemporary art museums. The report draws on the largest private contemporary art collector database in the world, created by Larry’s List, and an additional survey conducted with the participation of over 166 private art museums worldwide, jointly executed with AMMA (Art Market Monitor of Artron), the foremost art-market intelligence in China.

Why art is a unique asset class, and deserves to be thought of as such. J.P. Morgan has conceded that “only recently has art investing been viewed through the lens of the modern portfolio theory, and considered a potential alternative investment in a portfolio of assets.”(J.P. Morgan, 2013)4. The reason for this is that art has long been viewed as a luxury reserved for the rich, and the very rich. Although studies continue to clarify what has traditionally been an opaque market, research concludes that art can foster long-term return potentials, that are uncorrelated with other asset classes.

The figures speak for themselves. The evolution of online art sales mean that the value of the global online art market has risen from just under $1 billion in 2013 to an estimated $2.64 billion this year. Based on that growth trajectory, we estimate it to be worth $6.3 billion in 2019; no mean feat. Art buying patterns and motives are changing: almost half of this year’s respondents said they had bought art online in the last 12 months, up from 38% last year, and investment return is a growing motivation with art seen as an increasingly tradable asset online.

 

“The two greatest stores of wealth internationally today are contemporary art and real estate in New York, London and Vancouver.” Larry Fink, CEO Blackrock-Bloomberg