Press Release
CKGSB Professor Mei Jianping Launches Global Indices Tracking Impressionist, Contemporary, and Chinese Art Markets
BEIJING, Dec. 31, 2024 /PRNewswire/ — CKGSB Finance Professor Mei Jianping has announced the launch of two groundbreaking art indices—the MM Global Impressionist Price Index and the MM Global Contemporary Art Price Index—alongside the highly anticipated 2024 MM Chinese Art Index, which offers a comprehensive of price trends, liquidity, and sentiment in China’s art market.
The MM Global Impressionist Price Index and MM Global Contemporary Art Price Index are based on auction data from leading houses, including Sotheby’s, Christie’s, and Phillips, across major global markets. These indices highlight significant market trends, such as the steady 2.8% compound annual growth rate of Impressionist art since 2000 and the robust 5.0% annual growth rate of Contemporary art over the same period. However, 2024 saw notable corrections, with Impressionist and Contemporary art indices declining by 3.2% and 19.5%, respectively.
The 2024 MM Chinese Art Index reveals that Chinese art has outperformed global art trends, achieving a remarkable 9.3% compound annual growth rate since 2000, significantly higher than Impressionist and Contemporary art indices. Despite a 12.3% market contraction in 2024 and a 48.4% decline since its 2020 peak, Chinese art remains a compelling investment, supported by its high volatility and potential for recovery.
The MM Chinese Art Index also features sub-indices categorized by medium (ink vs. oil) and era (modern vs. contemporary). Notably, oil paintings and contemporary works have demonstrated superior market performance, with annualized growth rates of 10.8% and 11.5%, respectively. Additionally, the MM Chinese Art Sentiment Index tracks collector enthusiasm, reflecting shifts in market confidence over two decades.
The MM Chinese Art Liquidity Index highlights key artists, such as Zao Wou-Ki and Wu Guanzhong, whose works exhibit exceptional market liquidity. Moreover, a comparative analysis shows that Chinese art has consistently outperformed traditional assets like the S&P 500, underscoring its value as a long-term investment and potential inflation hedge.
View the full report HERE.
About CKGSB Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
The information provided in this article was created by Cision PR Newswire, our news partner. The author's opinions and the content shared on this page are their own and may not necessarily represent the perspectives of ThailandChina.
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