This article was originally published in November 2019.
From blue-chips like Damien Hirst to rising stars like Sterling Ruby, these are the names whose values are on the rise.
The global art market reached $67.4bn in 2018 and has grown exponentially in the last two decades. Investors see increasing value in diversifying their portfolio to include art as an investment – up to 8% of all wealth is now held in this asset class.
It can be a difficult landscape to understand, for novice and seasoned investors alike. If you are searching for a financial venture that provides potentially lucrative returns, take a look at this list of the top ten artists to invest in for 2019, which includes emerging, established and blue-chip artists.
Banksy has moved from being a controversial street artist to a mainstream phenomenon. His status as one of the nation’s favourite artists has made him a popular choice for investors since his first print release in 2003. Stunts such as this year’s Balloon Girl shredding in the auction room only serve to maintain his time in the limelight and further increase the value of his work.
The value of Banksy art has skyrocketed since his appearance in galleries. As a blue-chip artist, the value of his work is still increasing – in the last two years alone many of Banksy’s works have doubled in value, making him a safe bet for both novice and experienced art investors. In 2018, at Maddox Art Advisory we saw 16% capital growth in resold works by Banksy. Within the same time period, Sotheby’s Mei Moses index noted median compound annual returns (CAR) of 15.58% for street art.
Cleon Peterson’s aesthetic is reminiscent of Greco-Roman vases, but instead of romanticised scenes, he depicts excess, violence and outright hedonism. Rather than using symbolism or allusion, the explicit violence in his work is carefully contrasted with the flat and distant style. The geometric shapes and carefully pared-down colour palettes move the scenes into a more abstract space, reflecting the way that daily violence often feels sanitised and distant for those not involved in it.