About the MM Art Indices
Art can be a strategic asset, which means buying or selling art is hardly subjective. To offer a quantified framework for investment in the world of art, CKGSB Professor of Finance Mei Jianping and SDA Bocconi jointly launched the MM Art Indices, a set of data-driven art investment benchmarks monitoring and evaluating art markets across Asia, Africa, Oceania, Europe and the Americas.
The MM Art Indices are compiled based on auction data (since 1873) from Sotheby’s, Christie’s, and Phillips in cities including New York, London, Shanghai, Beijing, Paris, Hong Kong, Milan, Dubai, Amsterdam, and Cologne. The Indices, setting the stage for more transparency and rigor in a market that has traditionally lacked standardized benchmarks, are an extension of the previous MM Chinese Art Indices (released in 2023 by CKGSB), covering trends in Chinese art investment.
The MM Art Indices include:
- MM Contemporary Art Sentiment Index
MM Contemporary Art Liquidity Index - MM Continental Art Price Indices
- MM Asia-Africa-Oceania Art Price Index
- MM Americas Art Price Index
- MM Europe Art Price Index
- MM European Country Art Price Index
- MM Italian Art Price Index
- MM French Art Price Index
- MM German Art Price Index
- MM UK Art Price Index
- MM European Country Art Sentiment Index
- MM Italian Art Sentiment Index
- MM French Art Sentiment Index
- MM German Art Sentiment Index
- MM UK Art Sentiment Index
- MM Chinese Art Price Index
- MM Chinese Ink Painting Index
- MM Chinese Oil Painting Index
- MM Chinese Contemporary Art Index
- MM Chinese Modern Art Index
- MM Chinese Art Sentiment Index
MM Chinese Art Liquidity Index
The indices are produced by CKGSB Professor of Finance Mei Jianping, SDA Bocconi professors Andrea Rurale and Brunella Bruno, New York University retired professor Michael Moses, and Shanghai Academy of Social Sciences retired researcher Jiang Guolin.
Latest Survey Findings
The 2025 annual report of the MM Art Indices introduce the MM Contemporary Art Sentiment Index and the MM Contemporary Art Liquidity Index (ranking the top 25 most liquid contemporary artists).
The report finds that, after experiencing the lowest market sentiment in the past 25 years, the contemporary art market has seen a slight rebound in sentiment during the 2025 autumn auctions. Meanwhile, works by Sanyu, Wu Guanzhong, and Zao Wou-Ki entered the global top 25 for liquidity among contemporary artists.
The report indicates that the Chinese Art Price Index has achieved an annual compound growth rate of 8% over the past 25 years. After a brief rebound in 2025’s spring auctions, Chinese artwork prices resumed a downward trend in the autumn auctions, but market sentiment showed some improvements as reflected in the MM Chinese Art Sentiment Index.
The report finds that, following declines during the pandemic, markets in four European countries (Italy, France, Germany and the UK) and the Americas rebounded simultaneously in 2025, a price co-movement rarely seen in over a decade.
Please check the reports below for latest findings. For more information, or to arrange an interview with Professor Mei Jianping, please email xftian@ckgsb.edu.cn
