2021 Market

During a second year of global disruption due to the Covid pandemic, high quality artworks have maintained and in some cases increased their initial value. Fears of inflation and the current performance versus risk outlook for conservative financial assets have encouraged many investors to explore alternative asset classes, such as fine art, antiques, collectible automobiles, rare stamps and coins. While these generally require some specialised knowledge, periods of lockdown have enabled motivated investors to fast track their education so to speak. Likewise, demand for digital artworks is driven by widespread acceptance of new technologies and the uniqueness of concept approach to investment. Thanks to those individuals and institutions who've chosen to participate in the NFT market, it's now estimated to be worth $7 billion. Amongst the items covered this year the most memorable probably isn't Larva Labs Cryptopunk #4964 auctioned by Sotheby's for half a million British pounds. In my opinion, that belongs to Werri Lagoon by Colin Lanceley. It's an important work by an artist of considerable talent, a large scale assemblage of found objects and paint depicting the south coast landscape of NSW. This was bought near its low estimate for a tiny fraction of the Cryptopunk's price. Who knows how these values might compare once twenty years have passed.