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Yayoi Kusama, Pumpkins (Set of 3), 1998

Asset value
71.510,96 €
Earning potential
17.5%
Splints left
0/1.240
Investment horizon in years
1-2
Return-to-Risk Assessment
8/10
Performance since release
+15.3%

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Main reasons to invest

  • Return Potential: An investment of €500 could reach an estimated value of €691 in 2 years.

  • Cost-to-Return Ratio: With just 2.4% annual total costs, your net profit could be 17.5% per year.

  • Rare Complete Set: A rare complete set of Yayoi Kusama's iconic Pumpkins, acquired with a 19.0% price buffer, combines exceptional scarcity, established global demand, and a predefined short-term exit strategy.

Description

Investment Case
Investment Thesis
 
Metric Value
Investment Horizon 1–2 Years (Target exit: 2027–2028)
Expected CAGR (Balanced) 17.5% p.a. after fees
Optimistic CAGR 22.5% p.a. after fees
Entry Basis 19.0% price-buffer to market after fees
Sharpe Ratio 0.91
Value at Risk (VaR) 89.2% probability of exceeding initial investment after 2 years
Standard Deviation 19.6%
Number of Sales Points 4 comparable sales
Risk Rating B, Moderate (high volatility, strong liquidity)

 

  • 17.5% Net ROI p.a. (Balanced): 60% probability of achieving the CAGR from 11/2016 - 06/2022 of 25% based on historical auction data for the same set of 3 pumpkins
  • 22.5% Net ROI p.a. (Ambitious): 80% probability of achieving the CAGR from 11/2016 - 06/2022 of 25% based on historical auction data for the same set of 3 pumpkins

 

Category
Why Invest in This Category?
 

Investing in art combines cultural relevance, scarcity, and long-term value appreciation into a resilient alternative asset class. The global art market reached over USD 65 billion in annual sales, supported by a deep base of collectors, institutions, and museums. Historically, blue-chip and well-curated contemporary art segments have delivered ~8–10% long-term annual returns, with select emerging artists outperforming during career inflection points. Art benefits from low correlation to traditional markets, tangible ownership, and finite supply—particularly for unique works. Strong gallery representation, exhibition history, and documented provenance further enhance liquidity, price transparency, and downside protection for investors.

Asset Specifics
Why Invest in This Asset?
 

The Yayoi Kusama "Pumpkins (Set of 3)" from 1998 represents a rare opportunity to invest in one of the most recognizable and culturally significant motifs in contemporary art. Kusama, named "the world's most popular artist" in 2015, has built an unparalleled global following, and the pumpkin has become her signature image, synonymous with her museum exhibitions and collector demand worldwide.

Key Highlight
This complete set of three multiples, produced in an edition of only 30, was acquired with a 19.0% price buffer, offering disciplined entry into a work with exceptional scarcity and a proven track record. We aim to exit the investment within two years at current market value, supported by a predefined sales strategy and a planned placement in an upcoming exhibition already identified with our partner.

What sets this piece apart is its completeness. The set includes all three pumpkins in the original wooden presentation box, signed and numbered. Complete sets command a premium over individual pieces because they preserve the artist's original concept and become increasingly scarce as sets are separated over time. Collectors consistently favor matching edition numbers and original packaging, making this configuration highly desirable.

The Kusama market demonstrates exceptional liquidity, with over 1,000 auction appearances for the broader Pumpkins series and strong long term value growth. Pre 2000 works, like this 1998 edition, benefit from heightened collector interest and institutional recognition. The established auction history and global collector base provide a clear path to future resale.

For investors, this asset combines heritage authenticity, edition scarcity, proven market performance, and strategic entry pricing, offering exposure to one of contemporary art's most liquid and internationally collected artists.

 

Summary
Conclusion
 
Yayoi Kusama's Pumpkins (Set of 3) combines iconic imagery, exceptional scarcity, and proven market strength. As a complete 1998 edition of only 30, it captures Kusama's signature motif with pre-2000 provenance and strong liquidity. Its rarity, global recognition, and institutional appeal make it a compelling collectible for discerning investors seeking contemporary art with enduring cultural relevance.

Expert

OPERA GALLERY

Founded in Singapore in 1994, Opera Gallery has forged, over its 30 years, a network of 16 galleries worldwide including London, Paris, New York, Geneva, Hong Kong, and Seoul, establishing itself as one of the leading global players within the international art market. Headed by Gilles Dyan, Opera Gallery specialises in post-war French art, and in Modern and Contemporary European, American, and Asian art. In addition, the gallery represents international emerging artists such as Andy Denzler, Anthony James and Gustavo Nazareno. and more established contemporary artists such as Ron Arad, Manolo Valdés, and Anselm Reyle.

Additional details

Asset ID
90c5360b-5f96-4459-935c-7792a69e2fc2
Name
Pumpkins (Complete Set of 3)
Edition
Edition of 30
Size
8 × 9.2 × 9.7 cm
Publication year
1998
Artist
Yayoi Kusama
Signature
Signed and Numbered

Documents

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CEO & Co-Founder

Yayoi Kusama, Pumpkins (Set of 3), 1998