Art or stock market?

New York, 18 April 2013, Art Media Agency (AMA).

The Mei Mose index was designed to measure the productivity of investments on the art market in order to compare them with other markets.

In the study conducted by the company, the average price of the works considered was $518,910, with a median price of $63,718. The considerable gap between these two indexes can be explained by their extreme value, which in this case concerns certain works that have reached record prices.

The study shows that sales with prices that are not that high achieve a substantial annual productivity. In fact, sales amounting to less than $50,000 have a productivity rate of 7.48% with a gap of about 17.23 % (measuring the gap between the results) while sales with prices set between $500,000 and $1m achieve a productivity of about 5.51 % with a gap of about 10.93 %.

Based on the study of about 3,100 lots, in 2012 Mei Moses calculated an annual productivity of 6.7% for the art market, compared to 6.8% for the S&P 500 index.