ARTEMUNDI GLOBAL FUND! JANUARY 2010 NEWSLETTER

The Art Market Is Back!

After numerous successful Tobias Meyer, esteemed Created almost 400 years later, fourth quarter transactions in the auctioneer in both New York and Andy Warhol would indeed have art industry, it is safe to say that the London, reported that this was the the last laugh as his iconic 200 One art market is back! most active Impressionist & Dollar Bills masterpiece achieved Modern sale that he has ever led. over $43,000,000 alone, soaring In trying to recover from the past its $8-12 million estimate. peak of the high priced 2007 Furthermore, he noted that With figures reported directly from market, the first half of 2009 “collectors were back after a year the auction house, this looked daunting. But, Chief of abstinence.” Contemporary sale was 98.6% Executive William F. Ruprecht of Yet, the infamous brushstrokes sold by value and 96.3% sold by Sotheby’s reported in an early of Impressionism were not the volume, again confirming the November Bloomberg article that, only art genre to whet collectors’ success and revitalization of the art market at large. “the art market is clearly in a appetite. Universally recognized better place than it was last artists Raphael, Rembrandt and Art museums all over the autumn and the early spring of van Dyck made the Old Master country would also agree that the this year.” This message which sales in early December a true art market is back with a bang as conveys confidence for the future success. Three works by these research from The Art Newspaper of art, was spurred by the artists earned an impressive has found that 2/3 of major remarkable Impressionist & $115,000,000 confirming the museums have reported a Modern evening sale at Sotheby’s notion that Old Master works are significant increase in visitors since which achieved $181,800,000 over solid investments that rarely the start of the recession. This the high estimate of $163,600,000. fluctuate in a changing economy. trend applies to institutions with The article went on to say that this Buyers are as eager as ever to free and paid admissions, sale was the first of its kind to beat come across gems from this period indicating the significant role of its high estimate in New York since known for limited availability of art in peoples lives from all early 2006. signature pieces. economic standings. +1.305.517.7405 WWW.ARTEMUNDIGLOBALFUND.COM PAGE 1 ARTEMUNDI GLOBAL FUND! JANUARY 2010

ART BASEL MIAMI BEACH Importantly noted as the largest significant 75% of the Contemporary art show in the US, the art market g alleries said seemed as vibrant as ever at the 8th annual Art Basel sales grew Miami Beach (ABMB). Over 250 galleries from substantially over North America, Europe, Latin America, Asia and 2008. Africa exhibited an eclectic collection of art from Even though more than 2000 artists, which attracted over 50,000 sales were on the visitors to the week-long ABMB show and off-shoot rise, Art Basel fairs simultaneously running in Miami. Miami Beach was definitely a With several galleries reporting double-digit buyers’ market. growth in sales at this years show, the buzz Many collectors throughout Miami was exuberant and captivating, a took their time sharp contrast from the previous year. One New in contemplation York gallery owner noted that “the positive energy Louise Lawler, Nipple, 2008 rather than Purchased by Artemundi at ABMB that has always driven the fair has come back, impulse buying especially when you compare it to last year. for speculative investments. Others offered low-ball Confidence is contagious!” Another gallery rep was prices while negotiating deals and seemed interviewed by The Miami Herald and said uninterested by less recognizable artists that lacked “everybody’s happy this year. We had many more global appeal or significant quality. Whereas some sales than in any previous ABMB show.” may have feared that the fair wouldn’t be as The Miami Herald conducted a survey of the successful this year due to economic uncertainty, the fair that quantified its overall success in sales and overall result was triumphant. The conjunction of tourism. In their overview of ABMB, they found that high priced exquisite works by reputable artists almost 90% of the interviewed galleries reported mixed with fresh Contemporary pieces from all over that the fair would bring them a favorable outcome, the globe made everyone in Miami crave for more! 43% said their results were better than expected and

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ARTEMUNDI ACQUIRES 20 PIECES OF ART AT MAJOR FALL AUCTIONS + ART BASEL MIAMI BEACH During this seasons major Fall works have skyrocketed in value, auctions at Sotheby’s and Christie’s making any remaining as well as in Art Basel Miami from his now finite collection a true Beach, Artemundi acquired twenty gem. magnificent pieces of art for their The Wassily Kandinsky collection. Spanning the globe from painting exhibited on the left New York to Paris, Miami to Milan, represents a victorious acquisition. Artemundi successfully secured Roberto Matta, Morningness, 1953 With its vibrant colors set against a several and photographs dark background, Le Resolution from big names such as Roberto embodies Kandinsky’s famous Matta, Louise Lawler and Wassily abstract style. Jean-Louis Prat, Kandinsky, amongst many others. author of Kandinsky Retrospective, Roberto Matta is recognized for notes that this style within his Abstract Expressionist and Kandinsky’s oeuvre possesses a Surrealist themes and is arguably “new vocabulary of biomorphic the most famous artist from . and stylized forms borrowed from After leaving Chile for Paris in molecular biology.” Highly 1933, Matta learned the techniques innovative for his time, Russian and psychology behind born Kandinsky is one of the first from distinguished artists Dali, artists to experiment with abstract Breton and Magritte. With the forms in order to achieve visual Wassily Kandinsky, La Resolution, 1938 death of the artist in 2002, his freedom.

ARTEMUNDI’S CORSET JOINS MAJOR RETROSPECTIVE IN EUROPE In paying homage to one of the most successful in a full body cast, she started her career as a painter female artists in history, Frida Kahlo, two major to ease the pain and pass the time. After months in European museums are putting on the largest this cast and several self portraits later, Frida Kahlo retrospective exhibition ever for this Mexican artists’ actually painted the corset itself, depicting the eclectic and successful career. unborn baby she lost and the revolutions she deeply The Martin-Gropius-Bau in Berlin, Germany identified with. and the Kunstforum Wein in Vienna, Austria have coordinated this exhibition on the collective works of Frida Kahlo in 2010 to commemorate the centennial anniversary of Mexico’s independence, nearly the centennial anniversary of the artist and both Austria and Germany’s diplomatic and cultural relationship with Mexico. The two museums set out to include as many works by this symbolic and commemorative artist as possible. Today, this work remains a tri-dimensional piece Dating back through the life of this revolutionary that alludes to the broken state of her body, while Modern Mexican female artist, Frida Kahlo lived a offering social commentary on events both historical life of pain and pleasure which she often depicted in and personal. Artemundi is the proud owner of this her various works. In her early twenties, Kahlo was rare piece of artwork and history. Furthermore, seriously injured in a bus accident that left her Artemundi will be contributing this piece to the immobile for months and almost entirely infertile. retrospective on the artist in both Berlin and Vienna During this period at bed rest when Kahlo recovered this year. Artemundi Global Fund is thrilled to have work included in such a monumental exhibition. +1.305.517.7405 WWW.ARTEMUNDIGLOBALFUND.COM PAGE 3 ARTEMUNDI GLOBAL FUND! JANUARY 2010

AGF INVESTORS At the start of November 2009, Artemundi Global investors intellectually, emotionally and aesthetically Fund was invited to participate in the Marcus Evans while being generally unaffected by other markets or Elite Summit for global investors in Montreux, inflation. Switzerland. Team members Javier Lumbreras and Lumbreras and Sheridan connected with a wide Laura Sheridan were very successful at the range of individuals that spanned the spectrum of conference, giving a combined total of 36 being art enthusiasts to intellectuals that were unaware presentations to potential investors including some of of an art investment funds intricacies. Conference Europe’s top CEOs, Family Office Directors, members represented Switzerland, , Spain, Investment Managers and Wealth Advisors. Germany, Belgium, The UK, Jersey Island, Austria, Numerous of these high powered executives Andorra, France, Turkey, Cyprus & The Netherlands. representing banks, investment firms, family offices The overall feedback was so encouraging that after and advisory weeks of following up, Lumbreras and Sheridan will services were be returning to Europe at the beginning of February extremely intrigued to meet with investors and passionate art collectors to by Artemundi’s bring them on board to AGF. Additionally, the duo presentation on art has been selected as key note speakers for next years as an alternative Summit in Montreux. asset. Art For more information on becoming an AGF investor appreciates in value please contact Laura Sheridan at over time, rewards [email protected] or +1.305.517.7405

JAVIER LUMBRERAS’ AV&VS CLAIMS TOP ARCHITECTURAL DESIGN AWARD FOR 2009 Miami’s AV&VS building, AV&VS (Art Vault & Valuables Ancillary services, ranging from designed by Oppenheim Services) is among a conglomerate logistics to management, Architecture + Design, is among of art-related companies created insurance, conservation and the few distinguished buildings to by Javier Lumbreras, one of the registrar capabilities will also be have received the American true visionaries in the art world available. Architecture Award for 2009. today. The 140,000-square foot Selected by The Chicago A t h e n a e u m : M u s e u m o f high-rise structure has been Architecture and Design, this is the conceived as the prototype AV&VS highest and most prestigious facility that will later expand to national award for leading-edge 20-25 other markets in the U.S. product design that honors and abroad over the next few “outstanding new achievements years. This flagship will be located and innovation” in Contemporary in the West Wynwood district of American architecture. !! Miami, the city’s art capital and a fitting location for an innovative art storage facility. It will provide full protection against environmental AV&VS demonstrates Javier Lumbreras and Artemundi Global hazards and security risks and will Fund’s all encompassing utilize green materials as well as understanding of the art world artist murals for the exterior. from every angle.

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