Skate's Art Investment Review 2011 Annual Art Investment Report

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Table 15 Top 10 Losers: Artists with the Greatest Reduction in Value and Number of Artworks (as Represented in Skate’s Top 5000) Artists with Greatest Reduction in Number of Works in Skate’s Top 5000 Artists with Greatest Reduction of Value of Works in Skate’s Top 5000 Pierre-Auguste Renoir -19 Pierre-Auguste Renoir -26,283,155 Claude Monet -14 Camille Pissarro -17,500,748 Pablo Picasso -13 Damien Hirst -15,361,701 Roy Lichtenstein -10 Jean Dubuffet -13,849,117 Camille Pissarro -10 Sir Alfred James Munnings -12,653,516 Damien Hirst -8 Giovanni Giacometti -10,268,878 Jean Dubuffet -7 Canaletto -10,100,906 Edgar Degas -6 Franz Kline -9,169,000 Georges Braque -6 Jasper Johns -8,202,000 Sir Alfred James Munnings -6 Georges Seurat -8,061,829 Source: Skate’s Art Market Research Table 16 Top 10 Artists by Market Capitalization without Sales Records in 2011 (in Skate’s Top 5000 Price Range) Artists with No Auction Sale Record in Skate’s Top 5000 Artists with No Repeat Sale Record in Skate’s Top 5000 Living Artists with No Auction Sale Record in Skate’s Top 5000 Vincent van Gogh 635,416,127 Henri Matisse 809,719,353 Jasper Johns 198,553,750 Jasper Johns 198,553,750 Paul Cézanne 675,024,147 Damien Hirst 174,174,487 Piet Mondrian 193,716,295 Vincent van Gogh 635,416,127 Frank Stella 33,060,000 Canaletto 177,588,210 Mark Rothko 596,578,710 Brice Marden 21,603,000 Damien Hirst 174,174,487 Edgar Degas 473,854,149 Frank Auerbach 18,788,573 Yves Klein 172,767,231 Gustav Klimt 415,319,676 Cai Guo Qiang 16,830,722 Rembrandt Harmensz van Rijn 158,700,933 Paul Gauguin 390,043,592 Bruce Nauman 16,111,000 Edvard Munch 156,866,282 Egon Schiele 288,983,445 Chuck Close 13,887,500 Juan Gris 154,358,291 Jeff Koons 280,881,985 Bridget Riley 10,195,514 Joseph Mallord William Turner 151,931,032 Camille Pissarro 210,096,861 Marlene Dumas 9,672,127 Source: Skate’s Art Market Research 14
Table 17 Most Valuable Living Artists (Based on Representation in Skate’s Top 5000) Rank of Living Artists Artist Rank among All Artists in Top 5000 Market Cap* , USD Age as of 30-Dec-11 1 Gerhard Richter 14 504,304,381 79 2 Jeff Koons 24 280,881,985 56 3 Jasper Johns 26 198,553,750 81 4 Damien Hirst 37 174,174,487 46 5 Zao Wou-Ki 66 101,085,800 90 6 Richard Prince 67 97,519,263 62 7 Zhang Xiaogang 80 78,827,011 53 8 Peter Doig 82 72,224,924 52 9 Zeng Fanzhi 86 70,674,819 47 10 Ed Ruscha 116 43,377,678 74 Source: Skate’s Art Market Research *Aggregate value of artworks by the artist in Skate’s Top 5000 by historical auction prices paid This past July, the art world lost two highly important artists—individuals who throughout their lives achieved enormous professional and social recognition and saw their works command price records at auction. Both were among the 10 most valuable artists on the market, although since the news of their death, the art market has yet to show a notable reaction. Lucian Freud has not seen any Table 18 Skate’s Top 5000 Living Artists Who Passed Away in 2011 Artist Date of Birth Date of Death Age subsequent sales record since and now ranks as the 30 th most valuable artist in Skate’s Top 5000. Cy Twombly has had two signature works sell at auction and appear in Skate’s Top 5000—Untitled and Untitled (Lexington, Virginia). These works sold above their estimates and added $14.3 million in value to his record. Market Cap at Death, USD Market Cap 30- Dec-11, USD Lucian Freud 08-Dec-22 20-Jul-11 89 211,992,811 211,992,811 Cy Twombly 25-Apr-28 05-Jul-11 83 126,476,319 140,753,319 Source: Skate’s Art Market Research 15
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Skate's Art Investment Review 2011 Annual Art Investment Report

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