There’s been a lot happening in Romania’s art market. The leading painter, Nicolae Grigorescu, continues to see higher and higher prices as the record set March was quickly eclipsed last week as Little Peasant Girl Resting sold for €270,000.
At the same time, the country’s Securities Commission has given permission to Certinvest to raise a €5m art fund which is impressive considering that the local art market is only slightly larger than that figure, according to Romania Business Insider:
The art market in Romania registered last year an increase of 124 percent to an estimated value of EUR 7 million. In Romania there are about 200 active investors in art.
Finally, Romania’s Business Review points out that local auction house ArtMark and the Bucharest Stock Exchange have created an annual index of Romanian art:
The Artmark art index was launched in 2009, and it will be updated yearly from now on. The index monitors and processes all the public works auctioned in Romania, in the last 16 years. The catalogue comprises an approximate of 1,000 Romanian artists and the information about them refers to the quotes and annual yields of these artists, concluding the average annual yields all throughout the entire period of transaction of each artist, illustrated through graphics of the market value evolution.
Another Nicolae Grigorescu Painting Sold for Record Price on Romanian Art Market (Romania Insider)
First investment fund targeting works of art in Romania gets Securities Commission’s green light (Romania Insider)
The second edition of the index of the Romanian art market, launched today (Romania Business Review)
