Tracey Emin, I Did Not Say... (3 of 3), 2012

Investment Thesis 📈

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1. Strong Entry Discount with Proven Growth
This Tracey Emin neon is offered at €128,350—representing a 32% discount to the average gallery price and 14% below auction-adjusted benchmarks for similar-sized works over the last 6 years. Historical auction data for comparable neons shows consistent market appreciation, with average annual returns of 36.1% over the past 3 years, underscoring both strong demand and favorable entry pricing.

2. High Return Potential with Quantified Risk
Projected net returns are 24.5% per annum, based on replicating just 40% of historical growth rates. Our Value at Risk (VaR) model forecasts with 75% confidence that the artwork’s value will exceed €171,500 by 2029—significantly above the entry price. A Sharpe ratio of 0.83 further affirms the strong risk-adjusted potential of this investment, outperforming many asset classes in risk/return balance.

3. Strong Institutional Momentum and Market Positioning
Tracey Emin’s market is institutionally driven, with consistent representation at premier institutions including the Royal Academy, Tate Britain, and international galleries. Her neon works are among the most recognized in the contemporary art market. The scarcity of similar installations combined with institutional recognition and cultural relevance positions this work for further upward price revaluation.

Exit Options at Maturity 🏠

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We will manage the exit strategy in collaboration with our expert Opera Gallery on behalf of our investors, ensuring the best possible outcome based on market conditions at the time. Depending on the prevailing market situation, the sculpture will be sold to a private collector or offered as single lots at an auction for contemporary art. An auction is considered if the price has developed to the point where the minimum bid matches the market value and there is high demand for works by the artist. Both options are carefully considered, and we will choose the one that maximizes the return for our investors.

Why Invest in This Category? 🎨

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For centuries, art was collected for its cultural, emotional, intellectual, political, and economic value. Investing in a mid-career artist offers a mix of financial potential and personal satisfaction, making it an appealing option for both new and seasoned collectors.

Why Invest in This Asset? 💎

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Tracey Emin’s “I Did Not Say / I Can Never Love You / I Said I Could Never Love” is a powerful example of her iconic neon art, blending personal narrative with visual intensity. Using blue and pink neon, the piece explores the emotional duality of love—cool detachment versus tender vulnerability. The phrasing layers complex contradictions: a reluctance to express love, emotional boundaries, and the painful echoes of miscommunication. This emotional tension is heightened by the choice of colors—blue suggesting sorrow or distance, and pink evoking affection and yearning, now dulled by regret.

Emin’s use of neon, traditionally associated with advertising, becomes a medium for raw, autobiographical confession. The installation reflects the unspoken and the unsayable in relationships, drawing the viewer into an introspective space where private emotions become universally relatable. This work is not just art—it’s a dialogue on vulnerability, echoed in Emin’s broader practice which spans sculpture, painting, and film.

As a central figure in the Young British Artists (YBA) movement, Emin has sustained institutional recognition, with exhibitions from the Royal Academy to Times Square. This specific work embodies the full spectrum of Emin’s appeal—visually compelling, deeply human, and culturally significant. It stands as both an emotionally resonant artwork and a shrewd investment opportunity, offering long-term appreciation potential due to its rarity, strong market demand, and historical relevance within her oeuvre.

Conclusion 🎯

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With exceptional rarity, emotional depth, and a compelling market discount, this Tracey Emin neon combines personal storytelling with investment-grade potential. Its institutional pedigree and strong financial metrics position it as a standout asset in any alternative portfolio. Secure a meaningful work of art with the power to appreciate and resonate.