The folks at Skate’s are trying to promote the idea of art as an investment. They’ve circulated a chart of the works in last week’s Impressionist and Modern sales in New York that were above the $2.2m sales threshold that they consider significant for investment purposes. These works are have public prices available from a previous sale. Altogether the performance hasn’t been spectacular with an average effective rate of return of $3.24%
The best results were achieved by Jacques Lipchitz, whose Femme au Serpent was sold at auction seven years ago and found a buyer this week for USD 2.6 million, thus yielding an annualized effective rate of return (ERR) of 19.27%.