Contemporary Art Performs Well
Contemporary art continues to perform strongly according to the Artprice by Artmarket report. Over the past 19 years the trade in contemporary artworks has rocketed by 1800% with the Contemporary Art price index rising 22% over 2018-2019. This sector is particularly exciting for investors since the majority of these artists are living and thus the value of their artworks continues to grow as the artist develops their career and defines their place in art history.
This is a sector which offers exceptional potential returns for investors who are willing to wait a few years. Together with Post-War Art, Contemporary Art will soon constitute 40% of the global art market with over 70,000 contemporary pieces sold each year at auction. This is remarkable when you consider that this is almost the same number of pieces sold across the entire art market in the early 1990s.