Average CAGR by Period

AU C T I O N M A R K E T (2 0 0 4-2 0 2 3)

CAGR

Analysis

Where there are several repeat sales for an artwork the CAGR and holding period are calculated between every occurence

19 18

KEY

TAKE

AWAYS

• The average holding period for Water Lilies is 16.7 years.

• The highest CAGRs were consistently achieved post-2014.

• The lowest, and only negative, CAGR was achieved in 2005.

Average

CAGR

5%

*

Number of repeat sales

Average CAGR

Average CAGR by Creation Period

Artwork

CAGR

Water-Lilies, 1908 (W 1735)

7.1%

The Water-Lily Pond, 1919 (W 1880)

6.6%

The Water-Lily Pond, 1919 (W 1897)

6.5%

The Water-Lily Pond, 1919 (W 1887)

6.4%

The Water-Lily Pond, 1919 (W 1892)

5.3%

Water-Lilies, Grey Weather, 1907 (W 1708)

5.2%

Water-Lilies, 1907 (W 1684)

4.4%

Water-Lilies, 1908 (W 1723)

-1.6%

CAGRs for Water Lilies

Average holding period

FIG 6 WaterLilies 1908 W 1735 achieved Monets highest CAGR selling for 83M 15M

when adjusted for inf lation in 2000 and subsequently for 338M 439M when adjusted for

inf lation in 2015