Very strong results out of Deutscher and Hackett last week.
The results indicate an increased appetite for good examples of Indigenous works.
The art market is now a mature and liquid market, offering yields of 10% to 15% per year for works valued at over $15,000.
Art investing/collecting is a long term mind set, you must remind yourself that if you have works or are looking to start a collection, that you are in for a good 10 -15 year hold, maybe longer.
The figures are certainly compelling.
A recent wealth report records art, as a part of its Luxury Investment Index, growing at 15% in 12 months, 61% in five years and 252% in the last 10 years.
A total of 41% of wealth managers polled said that art investment funds are one of the services most relevant to their clients, up from 29% two years ago.
Collectors, meanwhile, have been increasingly using investment funds.
A total of 28% of those polled said that art investment funds were the most relevant art wealth management services available, up from 23% in 2011.
Keep this in mind…., it’s easy to purchase another share, though an original art work is hard to get, harder to let go of and impossible to replace.
EMILY KAME KNGWARREYE
(c. 1910 – 1996)
AWELYE, 1995
synthetic polymer paint on linen
122.0 x 216.0 cm
bears inscription verso: Delmore Gallery cat. 95I016
Estimate:
$80,000 – 120,000
Sold for $158,600 (inc. BP) in Auction 43 – 25 May 2016, Melbourne
EMILY KAME KNGWARREYE
(c.1910 – 1996)
KAME COLOUR XII, 1996
synthetic polymer paint on linen
152.5 x 91.5 cm
bears inscription verso: artist’s name and Delmore Gallery cat. 96F051
Estimate:
$60,000 – 80,000
Sold for $115,900 (inc. BP) in Auction 43 – 25 May 2016, Melbourne
TOMMY WATSON
born c.1935
UTJURI PUKARA, 2010
synthetic polymer paint on Belgian linen
153.0 x 144.0 cm
bears inscription verso: title and date
Estimate:
$20,000 – 30,000
Sold for $24,400 (inc. BP) in Auction 43 – 25 May 2016, Melbourne
