Contemporary art prices 'up 55%'
BBC 1 Out.07
The value of contemporary art has risen by 55% in a year, according to a study of auction sales from around the world.
The annual Hiscox Art Market Research report also claimed modern art, produced from the late 19th century to the 1970s, has jumped in value by 44%.
The world's most expensive piece of contemporary art went for £50 million in August - a diamond-encrusted skull by Damien Hirst. (...) Hirst's work, For the Love of God, was bought by an investment group. At the time some critics dismissed it as tasteless while others saw it as a reflection of celebrity-obsessed culture.
One of the artist's trademark medicine cabinets sold for £9.65 million earlier this year, which broke the European record for a work by a living artist.
...And when Claude Monet's Waterloo Bridge went under the hammer, it fetched nearly £18 million.
"The market for this art has never been so buoyant."
: Notes to editors: The Hiscox Art Market Research Index (HAMR Index) is a
unique tool designed to track of the value of homeowners’ belongings
including art, books, clocks, furniture, silver and other collectible
items, which are frequently underinsured. The index is a joint venture
between art indices compiler, Art Market Research, and specialist
insurer Hiscox. It index-links the value of Hiscox customers’ fine art,
ensuring their cover is automatically consistent with current market
values in order to help prevent underinsurance.
O interesse do informador é que os proprietários elevem os seus seguros.
O índice de preços das obras mais caras está sempre a subir, mas os outros índices podem ser estacionários ou estar em desvalorização.