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The news is certain and “attested.” A clear proof of how works of art, in this long period of economic crisis, represents a shelter asset that can protect investors from inflation. Indeed, according to the Focus 2012 data registered by the Observatory of the Centre of Economic Studies Nomisma and the University Lum Jean Monnet during the 36th edition of Arte Fiera Art First of Bologna (which ended on 30th January), the purchase of a work by a contemporary artist guarantees a better profit (+3.39% a year starting from 2006) compared to a house in a large Italian city (+1.68%) or to any stock investment (+0.69%).
Clearly, the art market has also been affected by the critical economic situation: despite the business volume of around 1.4 million realised in Italy in the modern and contemporary sector, in the second half of last year, at the most famous auction houses, from Sotheby’s to Christie’s, the number of proposed lots fell to 617 from the 836 of the first semester, a loss caused by the smaller attraction towards modern art. Whether 2012 has a more reassuring perspective is still to see. From a survey carried out among the intermediary professionals at Arte Fiera, it seems that the turnover should be stable or at the most fall slightly and prices should also be quite stable.
Unlike the modern art sector which, as we have seen, has lost some of its appeal, the contemporary art sector has almost maintained unchanged its sale performances. An opportunity not to be underestimated by art lovers, collectors and operators of the sector that met at this important international event, thermometer of the current trend of contemporary art. What seems now confirmed by the data emerged from the market analysis carried out by Fierce Art, some of which we can illustrate in the following pages, is that the current economic trend has determined a great awareness towards the recent past submitting to more careful consideration artists (Jeff Koons, Damien Hirst, to quote some of the most renowned “super-estimated” ones) who, in the period between 2007 and 2008, reached outstanding quotations.
Anyhow, contemporary art confirms its appeal: in 2011 auction sales in this sector increased by more than 30%.
In Italy, Domenico Gnoli did exceptionally well with his subjects characterised by a paradoxical dimension, completely unrelated to their original context: in October 2011, at Christie’s, London his Female Bust from behind was purchased for a record figure of 2.3 million pounds (3.5 million euros), exceeding by far the initial forecasts of 500/700 thousand pounds (760/1.1 million euros).
Among the great masters of the post-war period, after years of uncontested preference for Lucio Fontana, Alberto Burri seems to be looming in style, dominating the Italian sales in October, the important London appointments that define the price list. At Sotheby’s Combustione di Legno dated 1957 was contended for up to 3.1 million pounds (4.8 million euros) exceeding by far the initial estimate of 800/1.2 million pounds (1.2/1.8 million euros).
The confirmation that this was not an isolated episode arrived when, in the same circumstance, Rosso Plastica L.A. dated 1963 was sold for 2 million pounds (3.1 million euros).
Great success also for Piero Manzoni who, in October at Christie’s London, fetched 3.2 million pounds (4.9 million euros) for one of his works, Achrome dated 1958-59, 81×100 cm.
As for the representatives of Arte Povera, who together with the trans-avantgarde artists in 2011 were the protagonists of important exhibitions in the main Italian museums, they achieved great success at the main auctions. In October, at Sotheby’s London, Michelangelo Pistoletto, for instance, reached a hammer price of 553 thousand pounds (850 thousand euros) with Muro, a reflecting surface dated 1967. It is also worth mentioning the 277 thousand pounds (425 thousand euros) paid for Piede, a sculpture by Luciano Fabro, and the 265 thousand pounds (405 thousand euros) reached by Albero di cinque metri by Giuseppe Penone.
At Arte Fiera, between the average range of 150 and 700 thousand euros, it possible to find works by Jannis Kounellis, Giulio Paolini, Gilberto Zorio, Alighiero Boetti, Giovanni Anselmo, Pier Paul Calzolari, Piero Gilardi. The latter’s nature-rugs were exposed at very convenient prices starting from 20,000 euros.
Particular attention was paid by international collectors to the movement of Nouveau Réalisme, represented in Italy by Mimmo Rotella: his work Come un poema-suono, in October at Sotheby’s London, was sold for 265 thousand pounds (320 thousand euros). Winning prices, under 250 thousand euros, for artists such as Christo, Jean Tingueli, Niki de Saint Phalle, Daniel Spoerri. Unexpected the record hammer price that L’année dernière a Capri dated 1962, a female portrait of Martial Raysse, achieved last February at London Christie’s: 4.07 million pounds (4.9 million euros).
The success of the post-war masters left somehow in the background the art that was successful in the first half of the 20th century which, for this reason, offers truly advantageous prices. Good deals can be made by purchasing works by artists such as Mario Sironi, Phillip De Pisis, Alberto Savinio, Fausto Pirandello, Arturo Tosi, Massimo Campigli. By the latter, Donne su fondo rosso dated 1957, was sold at Sotheby’s London for 121 thousand pounds (145 thousand euros).
Within the sector of Futurism, the market offers good opportunities ranging from Giacomo Balla to Fortunate Depero and Enrico Prampolini, whose works can be bought for less than 70 thousand euros.
We should also remind lovers of painting of the news, should they have forgotten, that 2012 will be the one-hundredth anniversary of Renato Guttuso birth. The famous Sicilian artist could represent a winning card for the art market. With regard to this, his Gita in Vespa dated 1957, last November at Christie’s Milan was valued at 57 thousand euros from an initial estimate of 20/30 thousand euros.
Edited by Anna Maria Covelli
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