The Degenerate Art: History, Market, and Value of the Works

The “Degenerate Art” (Entartete Kunst) is a term coined by the Nazi regime to denigrate modern and avant-garde art, considered contrary to the values of Germany of the time.

This label was applied to movements such as expressionism, dadaism, surrealism, and cubism. Despite the repression, many of these works have acquired an extraordinary historical and financial value, making them today among the most sought after in the bull market of art.

Origin and Historical Context

In 1937, the Nazi regime organized the exhibition “Entartete Kunst” in Munich, displaying over 650 works by artists such as Paul Klee, Wassily Kandinsky, Otto Dix, and Emil Nolde, with the intent to ridicule them.

Many works were destroyed, others sold to foreign collectors or smuggled. This event marked a dark period for modern art in Germany, but paradoxically it contributed to increasing international interest in these artists.

The Market of Degenerate Art

Today, the works labeled as “degenerate” have a very high value, both for their historical significance and for their artistic quality. The market is structured along three main directions:

1. Auctions and Galleries: Auction houses like Sotheby’s and Christie’s have sold works by artists persecuted by the Nazis for record amounts. For example, a painting by Max Beckmann, whose work was censored by the Nazis, was auctioned for over 20 million dollars.
2. Recovery and Restitution: Many works confiscated during Nazism are at the center of legal disputes between museums and the heirs of the legitimate owners. The restitution of these works has led to a surge in their market value.
3. Private and Museum Collecting: Museums like the MoMA and the Tate Gallery host extensive collections of artists labeled as “degenerates,” thus increasing their prestige and value.

In January 2024, the “Portrait of Miss Lieser” by Gustav Klimt, created in 1917 and considered lost for decades, was found. The artwork was sold at auction on April 24, 2024, for 30 million euros by the im Kinsky auction house.

Factors that Influence the value of Degenerate Art

The price of Degenerate Art works is determined by various factors:

• Rarity: Many works were destroyed, so those that remain are extremely valuable.
• Provenienza: The tracking of the ownership of a work (provenance) is essential to ensure its authenticity and value.
• Historical importance: The connection with Nazi censorship has made these works symbols of cultural resistance.
• Market demand: With the increase in interest for 20th-century art, the value of these works continues to grow.

The art labeled as “degenerate” by the Nazis is today recognized as one of the highest moments of creativity of the 20th century. Not only did it withstand censorship, but it thrived in the international market, becoming a fundamental element for collecting and artistic investment.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.

She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.