Now, is the perfect time to invest in art. The international market is booming with great returns, and here at Masterworks we want you to get the best from your investment. That is why we are laying out the best buying markets right now so you know the worth of your investment.
Impressionist and Modern Art is holding steady in the art market. Several impressionist records were set this past week with Maurice Vlamincks Paysage de Banlieu selling for $22,482,500 (originally bought 17 years prior for $6,822,500) and Maximilien Luces’sNotre-Dame de Paris, that sold for $4,226,500. Pablo Picasso was a top seller with Les Femmes d’Alger, Version L going for $15,762,500, Homme au Mouton selling for $7,138,500, and Femmes Lisant (Deux Personages) selling for $21,362,500. All of these rare works are being offered at the perfect time for both old and new investors to enjoy.
Contemporary Turkish Art, generally sold in Dubai and London, is blossoming into the international art world as can be seen in the specialized sales held at major auction houses in April. In total, the sales in April 2011 generated $6.1m. The best results were Ömer Uluç and Erol Akyava’s painting End of Encounter, which brought in $741,000. The Whispering Wall II by Burhan Cahit Dogançay reached $375,000, and an untitled work by Orhon Mubin went for $326,000. These results show that the Dubaian market, which is traditionally strong for Contemporary Turkish art, is now being outshined by the European segment of the market.
Contemporary Chinese Art is dominating the global art market. Many of the works are selling for quadruple of what they were estimated at. Total revenue from one auction was $46.68m. One of the highest selling contemporary artist’s is currently Zhang Xiaogang, whose Forever lasting Love (1988) sold for $9m. Only time will tell if the market continues to rise or fall, but as Chinese art buyers are actively collecting, the market looks to be a good investment.