Categories El Valor del Arte, Financial asset, General, Investment, Rentabilidad, The art market, Yield

Why does the ‘Blue-Chip’ Art Market keep growing?

The investment of the art market in ‘blue-chip’ artists is growing largely due to the growth in the number of High-Net-Worth Individuals (HNWI) which in the United States from 2008 to 2019 has increased by 243%, reaching 20.8 million people at the end of 2019 (gray line) according to data from Capgemini’s annual World Wealth Report as can be seen in the attached graph compared to the growth of the index of the valuation of the top 50 most important world artists (blue line) based on Artprice* index.

The United States in 2019 accounted for 35.8% of high net worth individuals (over a million dollars) according to Knight Frank Health Report 2020 and accounted for 45% of the total global art and collectibles market according to the Deloitte report Art Finance 2021 in ultra-wealthy individuals (with assets above 30 million dollars), and which forecasts a growth of 24% annually between now and 2025. Therefore, the art market will continue to grow in the coming years given that the investment of large assets will continue to be concentrated in the world’s most important artists.

Artprice is a private company specialized in providing information on the art market and listed in Paris Euronext.