A Comprehensive Analysis by JP Mei & MA Moses Art Market Consultancy

  • Worst overall financial performance in the 21st century for art market
  • Mean compound annual return for 2024’s first half at 0.1% – lowest since 2000
  • Standard deviation high but not a record, risk measure 10 times higher than any year this century
  • Half of works sold at a loss
  • Claude Monet mean return 7% at auction
  • Slowing market attributed to high prices and rising gold/stock prices

The spring art-auction season has seen the worst overall financial performance in the 21st century, according to Jianping Mei and Michael Moses of JP Mei & MA Moses Art Market Consultancy. The mean compound annual return for the first half of 2024 was 0.1%, the lowest since 2000, with a standard deviation of 15%. Half of the works sold at a loss. The consultants attribute this to a slowing market, high prices, and the allure of rising gold and stock prices. They also analyze individual artists’ performances, such as Claude Monet’s mean return of 7% at auction. Other financial news includes Dow Jones gains, Federal Reserve actions, and upcoming earnings season.

Factuality Level: 7
Factuality Justification: The article provides accurate information about the art market’s performance and includes expert opinions from Jianping Mei and Michael Moses. It also covers various financial news topics such as stock markets, oil prices, inflation, and consumer sentiment index. However, it contains some unrelated information like the invasion of Lebanon by Israel and Iran, which may not be directly relevant to the main topic.
Noise Level: 6
Noise Justification: The article contains some relevant information about the art market performance and its factors but also includes unrelated topics such as stock market updates, economic indicators, and various news snippets that might not be directly related to the main theme. It could benefit from more focus on the core subject and less diversions into other areas.
Public Companies: Sotheby’s (BID), Christie’s (), Phillips (), CVS Health (CVS), Spirit Airlines (SAVE), AT&T (T), JPMorgan Chase (JPM), Wells Fargo (WFC), OpenAI ()
Private Companies: JP Mei & MA Moses Art Market Consultancy,Glenview Capital,TPG,DirecTV,Dish Network,EchoStar,Abu Dhabi National Oil (Adnoc),Covestro
Key People: Jianping Mei (Analyst), Michael Moses (Analyst), Shigeru Ishiba (Prime Minister of Japan), Jerome Powell (Federal Reserve Chair), Gavin Newsom (Governor of California), Michelle Bowman (Fed Governor)

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Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses the poor performance of the art market and its impact on auction sales, as well as mentioning various financial events such as stock prices (Nikkei, Dow industrials, S&P 500, and Nasdaq Composite), rate cuts by the Federal Reserve, consumer price index, third-quarter earnings season for banks like JPMorgan Chase and Wells Fargo, and private equity deals. It also mentions acquisitions, mergers, and hedge fund activities.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
Deal Size: Output: 0
Move Size: No market move size mentioned.
Sector: All
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

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