Corcos painting makes 68% increase on $25,000 estimate in US sale

A portrait of Anna Maria Borghese by Italian painter Vittorio Matteo Corcos exceeded its estimate by 68% in an auction in Closter, New Jersey, US this Saturday (March 31, 2012).

Corcos's portrait of Anna Maria Borghese

Vittorio Matteo Corcos studied under Domenico Morelli, one of the most important Neapolitan artists of the 19th century. It is here that he learned his later style of painting which is characterised by formal research and literature. This portrait is a fantastic example of Corcos' work, who became known for his highly realistic portraits. It is due to his skill in this area that he was commissioned to paint portraits of Wilhelm II and many other important German figures.

The framed oil-on-canvas sold for $42,000 against an estimate of $25,000, as predicted by Paul Fraser Collectibles early last month. Corcos' works have sold for similar prices and more in past auctions, soaring past pre-sale estimates.

For those looking to invest in the arts market, now is the time. Despite the current financial crisis, the global art market has risen by 63% since 2009, making art one of the most robust markets for potential investors. Figures show that the arts market has risen from under $10bn in 1991 to $66bn today, with an average 9.89% pa increase.

Paul Fraser Collectibles continues to bring you the latest in news and expert opinion on the arts world. Why not see our free guide to investing here? We also offer a selection of hand-picked investment opportunities, including this fabulous Pablo Picasso autographed postcard.

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