For centuries art was collected for its cultural, emotional, intellectual, political and economic value. 
 
Nowadays, collectors and investors turn to art for the benefits it offers such as asset protection, wealth preservation, portfolio diversification, low correlation with financial markets, profitability and other hedging possibilities in addition to its emotional and aesthetic qualities.

According to the Wealth Report 2023 of Knight Frank, the asset category art increased by 29% in 2022 and 91% over the last 10 years.

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Key factors for art as an investment:

Market Size 
The total market value of sales was estimated around $65 billion in 2021.&nbsp;

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Market Growth 
The $2.1 trillion global marketplace for art and collectibles will reach a forecasted $2,9 trillion by 2026.

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Trends 
Many auction houses and galleries shifted online. This has brought younger buyers to the market. Investors in general have increased their interest in art. As a result, the contemporary art market is setting a new trend for the future of art as an investment.

Name

Artist

Publication year

Size

Number of editions

Signature

Material

Splint Invest Platform Fee 
Compensation for the tokenization of the assets, the maintenance as well as the further development of the application and the costs related to the research and maintenance of the expert network. 
 
External maintenance costs 
We are committed to providing the highest standards of storage, maintenance and insurance of your equipment on your behalf. The associated costs will be shared between the splint holders and included as an ongoing cost in relation to each asset. So if you own 1% of a bottle of an art piece, your splint account will be charged 1% of the associated costs. Further details and breakdowns are listed in the factsheet for each investment. 
 
Exit fee 
When you sell an investment, you will be charged a flat fee of 2% of the transaction volume. This includes our expenses for sales on the secondary market, our costs for maintaining this market and our organisation of an asset sale at the end of the contract.

“ The Covarrubias works on paper market more than doubled since 2011. Especially, his enigmatic works of folkloristic scenes like this one realize top prices of up to 450’000 USD.” - Javier Lumbreras, CEO at Artemundi 
 
Who is Miguel Covarrubias? 
 
Miguel Covarrubias (1904-1957) 
Was a Mexican painter, caricaturist, illustrator, ethnologist and art historian, who lastingly influenced American art and promoted Mexican culture beyond its borders. After he moved to New York, Covarrubias started drawing for several top magazines, eventually becoming one of Vanity Fair magazine's premier caricaturists. Today, his work is recognized alongside the artistic contributions of Frida Kahlo, her husband Diego Rivera and other key-figures of 20th century Mexican art. The Covarrubias market has particularly increased since 2011 and its index grew by around 170% points, outperforming the index of art market greats such as Pablo Picasso and Claude Monet during the respective period. 
Born in the same year as Salvador Dali and friends with Frida Kahlo and her husband Diego Rivera, dedicated an important period of his oeuvre to his time in Bali and Southern Asia. As a passionate ethnologist, he captured the local traditions and saved his impressions of Balinese life in the first half of 20th century for posterity. 
 
The “Mexican Gauguin” 
Showed deep interest in ethnological studies and dedicated a great part of his art to depicting rural, traditional life of natives in Mexico and in Southern Asia. Like artist Paul Gauguin, Covarrubias immersed himself in the life of the natives he painted, and his art of this period is the result of careful observation and the aim to transmit the beauty of this way of life to the supposedly “civilized” world. Today, works by Gauguin reach nine-figure prices and confirm the strong market interest in ethnologically inspired art. 
 
Investment Potential: Covarrubias' Market Allure 
Especially Covarrubias’ depictions of traditional and folkloristic scenes enjoy market appreciation and sell consistently above high estimate. Further, the current market valuation for this artwork is significantly higher than the purchase price, creating a built-in margin for investors above the ambitious scenario. 
 
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Why this Art Piece? 
The artwork shows a girl sitting on her knees with her hands delicately placed over her legs. Barefoot and topless only wearing a dark long skirt with green and yellow details on her waist, the girl is joined by a hen picking corn from the ground. Her head is surrounded by a light pink/orange scarf leaving uncovered some of her dark hair and a prominent circular earring. With an alert expression on her face, we find her on a bright carpet in front of a house with woven walls. On the back of this poignant depiction of a traditional Balinese girl in traditional habitat Covarrubias sketched a first attempt to a caricature in the Nickolas Muray collection entitled "Tourist saved by Cheap Chinese Labor'' which was published in Vanity Fair Magazine, March 1931. 
Muray, for many years the affair of Frida Kahlo, was a close friend of Covarrubias and colleague as they both worked for Vanity Fair and the connection of this work to Muray certainly adds to its attractiveness in the market. 
 
 
Sell your Splints? We now provide you with the option to repurchase your splints at market value anytime. Please note that an additional processing fee will apply. The processing fee varies based on the volume, investment, and your holding duration. Use the contact form to initiate the process.

The price of 125,500 € includes the Splint Invest platform fee and external maintenance costs of 5,500 €. 120,000 € can be allocated to the asset. 
Platform Fee Splint Invest: Compensation for the tokenization of the assets, the maintenance as well as the further development of the application and the costs related to the research and maintenance of the expert network. 
External maintenance costs: Shipping, handling, 4 years storage, and insurance.

Variable Costs

Marco Estudio,&nbsp;Av. del Dr. Severo Ochoa, 35, nave 5F, 28100 Alcobendas, Madrid, Spain

40716_ Covarrubias_Joven Balinesa_c. 1931

The prices at auctions for comparable artworks by Miguel Covarrubias, taking into account the medium, content, size, and year of creation, have increased on average by 23% in inflation-adjusted terms in the last seven years. 
 
The highest auction price fetched for one of his works was "IN PREPARATION OF A BALINESE CEREMONY," which sold for 1,087,620 USD at Sotheby's Hong Kong in 2014.

Return

Over the last two decades, art has consistently shown superior performance compared to other asset classes like the S&amp;P 500 and FTSE 100, making it an attractive investment option. 
 
The relatively illiquid nature of art assets benefits those seeking stability and low correlation with stock market fluctuations. In 2023, according to the Artprice100 index, art recorded an average increase in returns of 4.2%.

Stability

Release on: 15 March 2024 - 09:00 AM CET 
 
The Covarrubias market has particularly increased since 2011 and its works on paper index grew by around 220% points, outperforming the index of art market greats such as Pablo Picasso and Claude Monet during the respective period.

Miguel Covarrubias, Joven Balinesa, c. 1931

Covarrubias' portrayals of traditional and folkloric scenes consistently experience increasing market values, often surpassing initial estimates. Moreover, the appraisal of these specific artworks has yielded prices higher than their acquisition costs, offering investors a built-in margin. This distinctive opportunity not only mitigates risks but also enhances security, rendering it an appealing option for potential investors.

Track Record

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.

Artemundi was born out of a rebellious idea and a principled objective: to help our clients build and diversify their art investments without the excessive fees associated with traditional brick-and-mortar art companies while adhering to transparent business practices. We specialize in art investments with expertise in Impressionist, Modern, Post-War and late XX century historical artworks, deliberately excluding contemporary emerging art for investment purposes. 
 
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. We have a successful track record providing expert art fund management, and other services. In addition, we have pioneered on a global scale the adoption of technology to create new investment opportunities through blockchain and art securitization. 
 
We know that art is a real and tangible asset that appreciates over time in addition to its priceless emotional, intellectual, and cultural value. 
 
DEDICATED EXPERTISE 
Decades of experience and our successful track record set us apart as the only art investment management company with a tested methodology. We achieve attractive rates of return for investors looking to diversify holdings into tangible assets with performance unrelated to the capital markets. 
 
REBELS BY NATURE 
Since 1989, we have grown contrary to traditional brick-and-mortar art businesses that carry huge overheads and excessive fees and commissions often on both ends.

Artemundi

CEO &amp; Art Collector 
 
Javier Lumbreras (USA &amp; Spanish citizen) is an investor, developer, fund manager, philanthropist, and art collector. He is widely recognized as a pioneer in the field of art finance, namely art funds. He is the current chairman of the board of directors of The Art Fund Association in New York. 
 
His 34 years of experience in managing art as an alternative asset, including securitization and portfolio management, as well as art collecting, museum endowments, and art-related estate planning, has earned him frequent invitations to lecture at international forums, including The Alternative Investment Association (CAIA), The Authentication in Art Congress in The Hague, the Sotheby’s Institute at the University of London, the Heckerling Institute on Estate Planning, the Art Investment Forum, the American Appraisers Association and Deloitte’s Art &amp; Finance conferences among others.

This is an investment opportunity where we have recalculated the expected performance given by the external expert (Artemundi advisor of Spectrum Utilis, S.L.) and have thus verified that a positive return can be expected after deduction of all costs for storage and insurance.

Furthermore, we have verified the existence, the professional storage and the insurance of the artwork.

Miguel Covarrubias, Joven Balinesa, c. 1931

Asset's Life Cycle Details

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Date of issuance (launch)

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Time period for the divestment

Documents

Aurelio

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