It’s not clear if running the performance of Rene Magritte’s market against the S&P 500 is very helpful to understanding his growing value or prominence. But Artnet provides one of their analytics charts to explain the Belgian’s rising visibility:
Nearly 45 years after his death, the market for Magritte continues to show signs of significant growth. Since 2003, Magritte has outperformed the S&P 500, realizing gains of over 280%. Additionally, the 2013 auction season has already proved to be relatively strong for the artist as his top 10 lots of 2013 have totaled over US$36 million, with November sales still to come. This growth is bolstered by a high average sale price (US$1.7 million in 2013), and three consecutive years with strong sell-through rates (77% in 2011, 80% in 2012, and 81% in 2013). Finally, in 2012, Les jours gigantesques (1928) sold at Christie’s London for US$11.3 million, ranking second among his all-time highest prices achieved at auction.
Artist Index: René Magritte (Artnet)
