Current Returns in the Art Market

Art markets are feeling the same pressures as housing and stocks.  According to Bloomberg, prices for many styles of art declined in the fourth quarter, but less so in the Impressionist market which has "remained solid." A painting by Monet, left, will be auctioned at Christie's London on the 4th of February.  The painting is estimated to bring $21.1 million.  It last sold in 1999, in New York, for $15.4 million.  If it sells at the current estimate, it will have appreciated at an annual compound rate of 3.2 percent.  A painting by Toulouse-Lautrec titled "L'Abandon" will also be sold.  Its high estimate is about $9.8 million.  The painting last sold in 2000, for $9.4 million.  This would equal an annual compound rate of appreciation of 0.5%.