George Condo, Abstract Face, 2012
Main reasons to invest
Return Potential📈: An investment of €500 could reach an estimated value of €936 in 4 years.
Cost-to-Return Ratio⚖️: With just 1.3% annual total costs (September releases with no exit fees), your net profit could be 17.0% per year.
Consistent Outperformance 📈: George Condo’s works on paper have consistently outperformed the Artprice Global Index for two decades. More than 83% of comparable works sell above their high estimate, while recent sales achieved on average 37% above offering prices. This enduring market strength highlights the defensive and growth appeal of the present work.
Description
| Metric | Value |
|---|---|
| Investment horizon | 2–4 years |
| Expected CAGR (balanced) | 17.0% p.a. after fees |
| Ambitious CAGR | 33.0% p.a. after fees |
| Entry discount | 13% below market value |
| Sharpe ratio | 0.79 (vs. SMI: 0.61) |
| Value at Risk (VaR) | 90% probability that €241,300 will be exceeded |
| Standard deviation | 20.2% |
| Risk rating | A (8.8/10 – low risk) |
-
2–4 year time horizon: The targeted exit aligns with collector demand cycles and the sustained auction momentum for George Condo’s unique works on paper, leveraging strong mid-term market growth.
-
17.0% CAGR (balanced): Derived from a 75% probability of achieving the historical 24.1% CAGR observed between 2017 and 2024 for comparable works by Condo.
-
33.0% CAGR (optimistic): Supported by robust global demand, increasing institutional recognition, and exceptional auction results, including record sales above USD 850,000 for works on paper.
-
13.0% entry discount: Acquired at a 13% discount to the inflation-adjusted market value, confirmed by 13 comparable premium sales.
-
Sharpe ratio of 0.79: Indicates an attractive risk-adjusted return compared with benchmarks such as the SMI (0.61), positioning the asset strongly within the contemporary blue-chip art segment.
-
90% VaR threshold: The model predicts with high probability that after four years the investment will exceed €241,300, providing solid downside protection.
-
20.2% volatility: Indicates a moderate risk profile consistent with blue-chip contemporary art, supported by steady demand in both institutional and private markets.
-
Risk rated A: Underpinned by strong historical liquidity, substantial auction demand, and robust price benchmarks—an appealing opportunity for collectors seeking culturally significant, top-quality artworks.
We manage the exit strategy on behalf of our investors in collaboration with our expert Artemundi, ensuring the best possible outcome depending on market conditions. According to the prevailing market environment, the painting will either be sold to a private collector or offered as a single lot at a contemporary art auction. An auction is considered if the price has developed such that the reserve matches market value and there is strong demand for the artist’s works. Both options are carefully assessed, and we select the one that maximizes returns for our investors.
For centuries, art has been collected for its cultural, emotional, intellectual, political, and economic value. Investing in a mid-career artist offers a blend of financial potential and personal satisfaction, making it an attractive option for both new and seasoned collectors.
George Condo has established himself as one of the most significant contemporary artists and is celebrated for his distinctive fusion of classical techniques with modern abstraction—often termed “psychological cubism.” Abstract Face (2012) exemplifies Condo’s mature style, where fragmented, expressive faces capture emotional complexity and cultural commentary.
From a market perspective, Condo has shown steady growth, supported by robust demand across galleries and auction houses. Works on paper from 2008–2018—including pieces comparable to Abstract Face—achieve a 90% sell-through rate, with 83% of results exceeding their high estimates. Record prices underscore this strength: a comparable Condo work on paper sold at Christie’s in 2023 for USD 852,500, while another from the series achieved USD 516,600.
This particular unique work benefits from its distinctive format, vibrant palette, and signed provenance, further increasing its desirability among collectors seeking top-tier pieces. In addition, the purchase price is 13% below fair market value based on inflation-adjusted benchmarks, providing an attractive entry point.
Given Condo’s established reputation, his institutional representation at MoMA and the Whitney Museum, and his ongoing presence in contemporary culture, Abstract Face offers a compelling balance of cultural relevance and financial performance. Its rarity, combined with consistent liquidity and a targeted holding period of 2 to 4 years, supports a strategic position within a growing segment of the contemporary art market.
Abstract Face represents a rare opportunity in the contemporary blue-chip art market. With a 13% entry discount, strong historical performance, and robust collector demand, the work combines cultural value with market growth, making it an attractive investment over the targeted 2- to 4-year period.
Expert
Since our foundation in 1989, Artemundi has evolved into an industry-leading art investment company with thousands of successful transactions and over a billion dollars managed in art. Artemundi is the trusted advisor of Spectrum Utilis, S.L.
