Damien Hirst, End of Days, 2003

Valuation Summary 📝

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To ensure the competitiveness of the investment, we conducted a thorough verification of the purchase price by analyzing recent private market and auction transactions. Our analysis confirmed that the price offered, inclusive of all associated fees, is highly competitive. To estimate the potential ROI, we used the annualized price increases of this print at auctions over the past 10 years. For our conservative scenario, we assumed the value of the print would grow at the rate of Swiss inflation, reflecting a defensive approach. In the balanced scenario, we assume a 90% probability of realizing a 17.3% (CAGR of the past 10 years at auction) annual return for the next 3 years. Finally, in the ambitious scenario, we assume a 100% probability of realizing a 17.3% (CAGR of the past 10 years at auction) annual return for the next 3 years.

Exit Options at Maturity 🚪

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We will manage the exit strategy in collaboration with our expert ZURANI on behalf of our investors, ensuring the best possible outcome based on market conditions at the time. Depending on the prevailing market situation, the asset 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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Damien Hirst’s End of Days belongs to his rare and highly regarded Pill Cabinet series—a sculptural exploration of medicine, mortality, and modern belief systems. Created in 2003 and executed with Hirst’s signature materials—glass, aluminum, painted MDF, stainless steel, and real or simulated pills—the cabinet transforms pharmaceutical order into art. It’s a compact monument to our culture’s search for salvation through science.

This edition is part of a limited series of 35, each handcrafted and now rarely seen on the open market. The rarity is part of its strength: there are currently no available offerings, and the last comparable work achieved a price of EUR 207,500 at an auction at the end of 2024. With a current offering price of EUR 125,250, this investment comes to the market with significant upside potential and historical auction support.

Hirst, a seminal figure of the Young British Artists (YBAs), continues to dominate both headlines and high-end auctions. His works are housed in top institutions—MoMA, Tate, Fondation Cartier—and have become synonymous with late 20th-century conceptual art. The pill cabinets stand apart, both visually and philosophically. They strike a balance between clinical precision and spiritual yearning, making them powerful symbols of our age.

The provenance of this specific cabinet, including a private London collection and Gagosian Gallery, adds further legitimacy. This is not merely a sculpture—it’s a piece of Hirst’s core philosophical legacy, particularly relevant in a post-pandemic world. End of Days resonates as both a reflection and critique of our pharmaceutical faith, offering rare depth in a visually mesmerizing object.

Context in Time ⏳

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Created in 2003 and purchased through Gagosian, End of Days precedes the mass-market period of Hirst’s later editions and captures the artist’s most conceptually rich years. With renewed attention during the COVID-19 era and recent exhibitions like Cathedrals Built on Sand, the pill cabinets have regained cultural prominence. This specific piece now gains additional relevance in a world grappling with health, mortality, and the boundaries of scientific faith.

Conclusion 🎯

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End of Days stands at the intersection of art, science, and belief. With unmatched rarity, conceptual depth, and a favorable price point, this Hirst cabinet offers a powerful blend of emotional and financial appeal. It’s a museum-grade asset for investors seeking iconic works with cultural and market gravity.