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Solo Arte,
Leading Irish and European Art Dealers
Based in Waterford City,

Email:   Mobile: +353 86 1719096 or Mobile: +353 86 606 1377

Friday, October 28, 2011

The 2010/2011 Artprice Annual Report On The Contemporary Art Market

Download: The 2010/2011 Artprice Annual Report
Pages 63 to 73 lists the top 500 artists in the world based on sales from July 1st 2010 to June 30th 2011

During this past year (2010-2011), financial market jitters and poor economic indicators on both sides of the Atlantic have put additional wind into sails of two assets: gold and art.

In effect, fuelled by the deepening debt crisis, the slowing economies of Europe and the United States during H1 and the difficulties encountered by banks, confidence in traditional financial assets has melted away in favour of gold1 (whose price has doubled in two years) and art, which posted the best secondary market performance in its history in the first semester of 2011. Contrary to standard assumptions, the crisis of 2008 hit the art market instantaneously, without any lag. In 2011, the market has adopted a far more philosophical approach, particularly after the painful experiences of 2008, and it now represents a viable alternative to the different classes of assets whose values have been seriously damaged by the crisis. The art market’s new and emerging strategies (online auction sales, accelerated information circulation, network connection of market’s players at a global level, opening of markets, etc.) is tending to encourage and facilitate investment in this sector, which is no longer reserved for insiders. Historical logic suggests that only masterpieces by the Old Masters, Modern artists and Impressionists that have withstood the test of time can be considered as safe investments. In effect, the bulk of today’s most sought-after works - and hence the most expensive - are by artists born between 1850 and 1950.

During the first half of 2011, Modern works of art generated total auction revenue of €2.365 billion versus €792 million for Post-War works and €496.8 million for works by Contemporary artists. Works created in the 19st century accounted for €361 million and Old Masters for €317 million. Hence in 2011, out of the 100 best results, only 8 were generated by Contemporary artworks compared with 15 in 2008 (signed by Jeff Koons, Damien Hirst, Takashi Murakami and the other Contemporary stars). Despite the volatility of the Contemporary market (+30% between 2004 and 2005, -38% between 2008 and October 2009, +27% over the recent period July 2010 - June 2011), there is a fast growing populations of non-professional collectors at art fairs and auction houses. The art market’s balance sheet over the past decade is generally very positive with prices up 50% from 2001 to 2011. This means that, besides gold, the art market represents a particularly profitable alternative investment, particularly at its top end.

Thursday, October 20, 2011

New Art Markets Trends: the European and Chinese Perspective

On behalf of the Luxembourg Government, the Centre Culturel de Rencontre Abbaye de Neumünster, the European Union National Institutes for Culture (EUNIC), and the Chinese National Academy of Arts, Deloitte is pleased to invite you to the "New Art Markets Trends: the European and Chinese Perspective" Conference.

The conference, which is under the auspices of Mrs Octavie MODERT, Luxembourg Minister of Culture, falls within the framework of the 4th Cultural Dialogue China-EUNIC - an initiative launched by the European Union National Institutes for Culture (EUNIC) jointly with the Chinese National Academy of Arts - will feature diverse workshops exploring the topics of art and finance. The conference programme is available online.

We are honoured that Mr. Luc Frieden, Luxembourg Minister of Finance, has kindly agreed to deliver a special address.

Wednesday, 26 October 2011
from 2.00 p.m. to 6.30 p.m.

Luxembourg Philharmonie - Salle de Musique de Chambre
1, Place de l'Europe, L-1499 Luxembourg
Free entrance by invitation only

  • The speeches will be in English and Chinese with simultaneous translation into Chinese and English.
  • Please note that the conference will be followed by a buffet cocktail and an optional guided visit to the Museum of Modern Art (MUDAM).
  • As there is a limited number of places available, please click here to register no later than Monday, 17 October 2011.
  • For any logistic questions, please contact
  • We look forward to welcoming you at the conference!

More information about this event is available at:

Monday, October 17, 2011

Arthur Maderson Exhibition outstanding success

Our recent Arthur Maderson London exhibition was an outstanding success, with a constant flow of visitors throughout the 5 day period. A selection of the recorded comments from the many art lovers who visited were as follows:

“Great impact..use of colour to express form and light is exquisite”

“Real movement and life, beautiful work”

“Made me feel lighter on a very stressful day”

“Such expressive brush strokes!”

“Fantastic style”

“ Wonderful vibrant colours”

“ I love his perception of light”

Richard Argreiter
Elisabeth Bauerstein
Pauline Bewick
Patrick Cahill
Martin Finnin
Franz Lettner
Arthur Maderson
TJ Miles
Margit Piffer
Franz Posch
Anna Maria Rossi-Zen
Alfons Walde
Kenneth Webb
Susan Webb
Johann Weinhart
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Irish & European art dealers. Our art gallery is based in Waterford City, Ireland.
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