ALL ART Index – overview
ALL ART Index – overview
Introduction
Overview
Tickers
Definitions (Methodology Overview)
Introduction
- This document provides the definitions and methodologies used to construct the All Art Index and All Art Interactive Chart available on the AMR website.
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AMR is the trading name of Art Market Research Developments Ltd. AMRD Ltd is the administrator of the AMR All Art Indexes.
Overview
- All Art Chart shows the ‘Artist Price’ performance of the All Art Index.
- ‘Artist Price’ is the weighted moving average of 24 months’ worth of sales at 130 auction salerooms worldwide (buyer’s premium removed) where weights attached to observations decrease arithmetically, with older observations having the smallest weights.
- To be eligible for inclusion in the All Art Index, artists must have sold at least one work in a 24-month period
Tickers
- Index is the sum of artist prices rebased to 1000 in January 1978.
- Month Change is the percentage change calculated from the month immediately preceding the most recent month update.
- UMV (Underlying Monetary Value) is the sum of ‘Artist Prices’ computed each month.
Definitions (Methodology Overview)
- AMR uses price data from auction sales worldwide to construct the All Art indices.
- For each of the artists in AMR’s database, an ‘Artist Price’ is calculated by averaging sales over a 24-month period.
- Weights are attached to observations in the 24-month window with proportionally more weight placed on more recent sales.
- At any point in time, the index represents a comparison of the sum of artist prices relative to the sum of artist prices in the base period.
- For all the data time points, including the base period the sum of artist prices is computed (UMV – Underlying Monetary Value).
- An initial index for time point t is then computed as 1000 multiplied by the ratio of the sum at this time point to that of the sum in the base period.
- This process is repeated monthly.
- The entire history of the series is smoothed with factors which decrease exponentially.
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