ARTSPLIT Market Round-Up for the Month of October 2022
The month of October on the ARTSPLIT marketplace turned out to be a bearish month as the market posted a 1.23% loss, which saw its market capitalization lose $40,000, from $3.25 million at the start of the month, to end the month with a market capitalization of $3.21 million. While we saw significant increases in the price of certain artworks, however, the bears had the final say despite the gains and the addition of new artworks on the ARTSPLIT marketplace.
Volume and Value Analysis
During the month, we saw the market record a total volume of 22,268 SPLITS from 27 Artworks of the 45 Artworks currently listed on the ARTSPLIT platform. Diving in deeper into these figures, Akinola Lasekan’s “Ijo Ibile,” was the most traded artwork on the marketplace during the month as it accounted for 7,836 SPLITS, representing 35.19% of the total volume of transactions, the marketplace saw during the month. Below is a table of the top five most traded artworks in the month of October 2022;
On the value side, we saw a total of $5,985.55 worth of transactions consummated during the month of October. Diving in deeper, Akinola Lasekan’s “Ijo Ibile,” accounted for the most value of transactions seen during the month as the artwork accounted for $2,170.47, which represents 36.26% of the transactions consummated during the month. Below is a table of the top five value artworks in the month of October 2022;
Artist of the Month
Now let’s look into the top artist of the month. The top artist measures the most traded artist seen during the month. It’s a metric that measures which artists, and market participants, have shown interest in by measuring the volume of transactions they recorded during the month. In October, a total of 14 artists were traded on the ARTSPLIT marketplace. The artist of the month goes to Akinola Lasekan majorly because of his artworks, “Ijo Ibile,” and “Fisherman Man Sorting The Catch,” accounting for 37.20% of the total SPLITS recorded during the month. This represents 8,283 SPLITS, bringing a total of $2,193.02 consummated during the month, representing 36.64% of the total transactions seen during the month. Below is the table of the top 5 artists in the month of October 2022;
Gainers and Losers Chart
For the month of October, we saw seven artworks post gains during the month. The chart was led by an artwork by Ben Osaghae which posted a whooping gain of 140.00% during the month, as it started the month trading at $0.15 per SPLIT to end the month trading at $0.36 per SPLIT. Below are the top five gainers for the month of October 2022;
On the loser’s chart, for the month, we saw five artworks post losses during the month of October 2022. The chart was led by an artwork by Rufus Ogundele which posted losses of 73.33% during the month, as it started the month trading at $0.15 per SPLIT to end the month trading at $0.04 per SPLIT. Below are the top five losers for the month of October 2022;
Market Depth Analysis
As with the bearish performance of the ARTSPLIT marketplace, we saw the same performance in its market breadth, as sellers accounted for most of the transactions seen during the month, representing $5,132.54 with a volume of 18,079 SPLITS. This means the sellers accounted for 85.75% of the total value of transactions and 81.19% of the total volume of transactions. There was no activity on the lease side as all artworks ended the month flat.
ARTSPLIT is an art trading technology company driven by one common goal; enhancing the investment status of African art by allowing users to co-own rare and valuable artworks on a platform that guarantees price discovery and market liquidity.
To learn more about the platform, send an email at info@artsplit.com or visit www.artsplit.com. You can also call or WhatsApp our mobile at +234(0)9088962169 and follow @artsplitofficial on Twitter, Instagram, and Facebook.
