In an odd review of a gallery show posted on Bloomberg last week, Craig Copetas offers this fascinating but unexplained statistic:
According to statistics compiled by Bloomberg News, the average compound annual return on fine art has been 33 percent since 2004.
It’s an interesting number even if it doesn’t explain what art and by what basis the calculation is made. Even though the statistic is tangential to the point of the story, it tantalizes. Is Bloomberg saying that the broadest gauge of the art market has risen 33% from 2004-2010 on a compounded annual basis?