Chagall, ‘The Sleep of Love’, 1956-57

The painting depicts a tender moment as Bella, absent in physical form, cradles a grown-up Ida. Chagall’s masterful use of color is evident in the dominant signature blue symbolizing tranquility. The inclusion of green introduces nostalgia, representing the tension between change and continuity in life’s spiritual aspects. Dark outlines emphasize the loving relationship between the figures. The initial impact of vivid blue gives way to a touching portrayal of love, loss, and for what once was, encapsulating the emotions that Chagall so skillfully conveyed in this artwork.

Chagall’s art market stands resilient and predictably grows, offering a stable investment in uncertain times. With enduring appeal, it presents a low-risk profile.

Artemundi and Splint Invest partnered to offer European investors fractional ownership of this artwork starting at 50€, through Splint Invest’s app.

In February 2024, before the end of the investment horizon of 2 to 4 years, an interested buyer presented an unsolicited offer for the artwork that outperformed the ambitious investment scenario (11%) and surpassed the artwork’s predicted two-year value increase after only 1.5 months. In line with most co-owners, the offer was accepted, and the investment was successfully exited.

This exited investment opportunity shines with a remarkable realized profit of 15.4% after accounting for fees, resulting in an impressive annualized return of 136%. During the same period, the S&P 500 recorded a value increase of 5%, while traditional stock indices such as the SMI and Gold experienced slightly lower value increases with 1.1% and 0.5%, respectively.

Date of issuance: December 2023
Investment exit: February 2024
Holding period: 1.5 months
Net release price: EUR 160’000
Exit price after fees:  EUR 194’224
Realized ROI (net of all fees): 15.4%
Annualized return: 136%
Expected return: 7 – 11% p.a.