How are the AAMI ratings calculated?

The most successful 200 individual living and deceased Aboriginal and Torres Strait Islander artists are ranked annually according to secondary market performance indicators. Their Australian Art Market Index (AAMI) Rating is calculated according to a formula devised by Adrian Newstead OAM in consultation with John Furphy of the Australian Art Sales Digest and advice from the arts economist Dr. Jon Stanford.

An individual artist’s AAMI Rating is calculated yearly and accumulates throughout each year that their works appear for sale. It is based on the total value of all of their artworks sold at public auctions, their clearance (success) rate (the number of artworks sold divided by the number offered), and their average price. Each of these factors is weighted according to the following formula:

AAMI Rating = Success Rate + Profligacy Index + Unit Value

Success Rate = Total Sales ($AUDmillions) x Clearance Rate

Profligacy Index = Number of Works Offered / 100

Unit Value = Average Price / 10,000