The recent post war and contemporary art auctions at Christie's and Sotheby's in London have outperformed the S&P 500 Total Return index, according to the Mei Moses Fine Art index.
 Basquiat's Untitled (1982) provided the highlight of Christie's auction, selling for $28.9m |
The index analysed 63 lots from the four sales in the category that took place in June. It discovered that these artworks gave an average compound annual return (CAR) of 8.9%.
In comparison, the S&P 500 Total Return index offered 7.2% CAR for an identical investment over the same period of time.
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