artnet AG: Artnet Data and Analytics show key developments of art market in 2021, Indicate growth for 2022

• Post-War and Contemporary Art show strongest
  growth
• Price development highlights Fine Art’s
  attractiveness as alternative asset
• Pablo Picasso, Jean-Michel Basquiat, Andy Warhol
  most expensive artists in 2021
• More than $14 Billion worth of art sold at
  auction in 2021
• Artnet developing AI-supported analytics and
  predictive technology

NEW YORK, US / BERLIN, GERMANY – EQS Newswire – 17 January 2022 – Artnet
AG, the leading platform for art market data and media, and the global
marketplace for fine art will deploy more resources to further develop its
AI-supported analytics and business intelligence products. The development of
predictive technologies will be instrumental for data-driven decision making, especially
in terms of art secured lending, fractionalization, and other financial
products.

Over the past few years, and especially in the wake of the pandemic, art has
rapidly developed into a viable alternative asset. With over $14 Billion worth
of fine art sold at auction last year, a hefty increase in comparison to the
$10.1 Billion 2020 total sales, more and more family offices, collectors, and
banks are turning to Fine Art as a viable investment.

The Artnet Business Intelligence team can reveal that especially Post War and
Contemporary Art are showing strong returns, with data suggesting growth in
line with the S&P500. Modern Art and Impressionist Art are on a steady
upwards trajectory. Old Master paintings are experiencing more tepid growth.

The top 10 performing artists over the past year, according to Artnet’s
Database, were Pablo Picasso ($657 Million), Jean-Michel Basquiat ($414
Million), Andy Warhol ($341 Million), Claude Monet ($305 Million), Vincent van
Gogh ($235 Million), Gerhard Richter ($225 Million), Banksy ($201 Million), Cy
Twombly ($181 Million), Zhang Daqian ($160 Million), and Yayoi Kusama ($146
Million). The NFT breakout artist Beeple is among the top 20 highest grossing
artists of 2021.

Artnet ended the year 2021 as its strongest performance ever. A pioneering
force in the digitization of the art industry, Artnet’s global, highly-curated,
and data-driven platform has been critical in supporting the continued growth
of the art market.

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