Romania Public Art Sales Up 124% On Year In 2010

Public art sales in Romania increased 124% in 2010, compared to 2009, to EUR8.3 million, and the average annual yield stood at 40%, according to the second edition of the Artmark Index, launched Tuesday by the Bucharest Stock Exchange.

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The Romanian art market index launched Tuesday monitors and processes all public art sales in Romania for the past 16 years (1995 - 2010) and the evolution of over 1,000 Romanian artists.

The average annual yield of the Romanian art market was 36% over the past 16 years, higher than the average yield of investments in gold, real estate or commodities in the same period.

According to the index, the best selling Romanian artists of the past 16 years are Rudolf Schweitzer-Cumpana, Theodor Pallady, Leon Alexandru Biju, Nicolae Vermont, Nicolae Tonitza, Iosif Iser, Samuel Mutzner, Adam Baltatu, Gheorghe Petrascu and Octav Bancila.

The index includes a ranking of the top 100 most traded Romanian artists. The ranking is dominated by Nicolae Grigorescu, whose works occupy the top four spots.

The index of the Romanian art market is available at www.indexulpieteidearta.ro.

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