$64 Billion Art Market Whose Transactions Have Decreased 22 Since 2007

ART Market place INFORMATION

Unmatched comprehensiveness worldwide for fine art auctions.

Our econometric department of the art market offers spot-on indicators to bring you clear information and help yous in your decisions.

The Contemporary Art Market place written report 2021

2021, an exceptional vintage

In fact, the 2020/21 period marks the Gimmicky segment's all-time year in auction history, both in terms of lots sold and in terms of global auction turnover, and it saw the Contemporary fine art segment motility into a new space vis-à-vis the rest of the art market.
Function of this movement was driven by the sensational arrival of NFTs and the staggering prices obtained for works by very young artists, both of which appear to have profoundly transformed the fine art market's overall landscape. The NFTs very likely marker a substantial acceleration of the Hegelian power struggle that will release artists from their condition of slavery and make them masters of their own markets… and reconfigure the unabridged global art marketplace in the procedure.

Artprice is proud to present this latest exclusive report focusing on the latest evolutions in a Contemporary Art Market place that is seeing buying and selling habits transformed, the very notion of "collecting" being fundamentally shaken by NFTs, and Art history itself somewhat fitfully evolving towards greater inclusion and diversity… These changes are equally radical as they are unavoidable!

Co-ordinate to thierry Ehrmann, CEO of Artmarket.com and Founder of Artprice: Sales strategies offering a big number of works at relatively affordable prices and growing demand from multi-generational collectors allowed the Contemporary art segment to resist the negative impacts of the wellness crisis a lot ameliorate than whatever other segment.

The Contemporary art segment (artists born after 1945) posted a historic auction turnover performance in H1 2021, upwards l% versus H1 2019 (and five times the total hammered in H1 2020, impacted by the early days of the covid pandemic).

Asia ... the market pivots towards the East
Later an extremely difficult 2020, Prc, Hong Kong and Taiwan posted exceptional performances in H1 2021) taking their total turnover from sales of Gimmicky art for the 2020/21 period to USD 1 billion, i.eastward. 40% of the segment's global turnover.

Artists

Four artists representing four major trends:
• Banksy (1971) - Street Art recognized as a major global subject
• Beeple (1981) - The viral madness of NFTs
• Amy Sherald ( 1973) - Adult female Power
• Beeple (1981) - The viral madness of NFTs
• Amoako Boafo (1984) - The art marketplace is also integrating Blackness Lives Matter

Key figures

• Contemporary Art accounted for 23% of the entire art market in 2020/21, vs. three% in 2000/01
• Our Contemporary Art Cost Index has climbed 400% since 2000
• 102,000 Contemporary works sold at auction over 12 months generating a total of $ii.vii billion, up 117% compared with the 2019/20 period (which shrank 34% vs. 2018/2019)
• The works were sold through 770 sale houses in 59 different countries
• The NFT medium already generated 9 7-digit results, i.e. three times more than the photography medium in the same period
• Hong Kong posted exceptional turnover growth of +277% overtaking London
• Banksy joined the Peak 5 best-selling artists on the entire art market place, behind Picasso, Basquiat, Warhol and Monet

This Report represents an essential tool equally we caput into the major autumn art fairs (notably the Frieze and the Fiac) and is now available at the following address:

https://www.artprice.com/artprice-reports/the-contemporary-art-market-written report-2021

Artprice 2020 Fine art Market Report highlighting a veritable image shift: the pandemic imposed an unprecedented digitization of the market... that saved auction turnovers.

Art Market place 2.0

The Art Market has adopted a new economic model and reached a new equilibrium that the nigh optimistic projections were non expecting to run across before 2025. It is now much better equipped to work with contemporary means of living and collecting, i.e. those of the 21st century.

With this 23rd Almanac Report, Artprice and its editorial partner Artron are proud to provide a global analysis of this epitome through a focus on the following questions:

• How has the pandemic impacted the art market?
• How has digital technology affected the market and what will tomorrow's marketplace await like?
• Why has People's republic of china'southward market resisted and so well?
• How have collectors reacted?
• What types of works are most in-demand?
• Which artists accept reached records despite the crisis?
• How have social-cultural upheavals – from #MeToo to Blackness Lives Matter – impacted the Art Marketplace?

Plus:

China in pole position

Top 10 countries by Fine Fine art auction turnover (change vs 2019)

Geographical breakup of Fine Art auction turnover in 2020

Artprice's famous Top-500 ranking of the world's virtually sought-subsequently artists

Twelvemonth 2020 in review

etc...

In sum, despite a global tragedy that is unique in social and modern economical history, the Art Marketplace has rebounded via digital technology, which it has massively adopted inside a tape time and which has immune the market's turnover contraction to be limited to just -21%, which in itself – given the circumstances – is a superb functioning.

The Artprice 2000-2020 Report :
twenty years of Contemporary Art auction history

Artmarket.com publishes the new Artprice Report on the Contemporary Art Market, the primary growth driver with a +2,100% increment over 20 years

Confident and stable growth, with a record number of transactions worldwide

"Artprice is proud to present this exclusive report which traces the development of the Contemporary Fine art Market over 20 years", announces thierry Ehrmann, President and Founder of ArtMarket.com and its Artprice department. "The story information technology tells reflects a multitude of sociological, geopolitical and historical factors, all of which contributed to the rapid ascent of Contemporary Art in the global Art Market. A marginal segment until the end of the 1990s, Contemporary Art at present accounts for 15% of global Art auction turnover, and is now its primary growth driver, having increased +2,100% over 20 years. Equally a outcome of the Covid-19 pandemic in 2020, the Art Market switched almost entirely to the Net. 2021 will no doubt see an extension of this trend".

In short, the Contemporary Art Market has been through a very long and very profound transformation over twenty years, which Artprice has followed. Nosotros have witnessed its exponential rise until 2008 – until Damien Hirst's insolent sale just after the defalcation of Lehman Brothers at Sotheby'southward – and the subsequent 'arrival' of the Chinese Fine art Market place with its height in 2014. Clearly, the wellness crunch that began in March 2020 has once again broken the marketplace'due south rhythm, but at that place are few markets that resist rhythm breaks quite like the Fine art Market.

So we seem to have reached a perfect spot for a pause and for serious analysis of the metamorphoses of the Contemporary Art Market place – the segment of the Marketplace which harbours the biggest risks and opportunities – before it fully resumes its undoubtedly unexpected activities.

And don't miss, exclusive to this year's report, the TOP 1,000 contemporary artists at auction (2000-2019)

The Contemporay Art Market at Sale:

Growth
• The Contemporary Art rush
• The marketplace'due south pillars
• Painting… to a higher place all
Diverseness
• A new landscape
• " No Man'south Land "
• Blackness (also) matters (in art)
Valuation
• In search of novelty
• Multiple selection…
• Digital agility

Read our report, 20 years of Contemporary Art auction history:
The Contemporary Art Market report 2000-2020

Artprice by Artmarket's 2019 Annual Art Market place Report

The new study shows continued growth with a all-fourth dimension record number of transactions based on global conviction in the market, and the French market was particularly strong in 2019

Confident and stable growth, with a record number of transactions worldwide

thierry Ehrmann, Artprice founder and CEO of ArtMarket.com: "The Fine art Market'due south growth is based on confidence"

22nd Annual Report by Artprice by Artmarket

This report contains the famous Artprice ranking of the Top 500 best-selling artists on the global art auction market and the Peak 100 auction results. It also contains an analysis of the global Art Market place from a geographical perspective (past country and by major city), a breakdown by historical periods and by artistic media, a selection of crucial Artprice market indices and eight cardinal chapters providing an uncompromising analysis of today'south global Fine art Market. No other entity is currently capable of generating such high quality macro- and micro-economical metadata based on proprietary Big Information and AI algorithms.

General overview of 2019

• The global Art Market generated $13.32 billion, down -14% mainly due to a drib in the number of ultra-loftier value masterpieces offered (worth > $fifty million)
• The number of lots sold worldwide reached a new historical high of 550,000
• The average lot toll in 2019 reached $24,300
• The median lot cost was $940
• Approximately 90% of all lots sold fetched less than $17,000
• The unsold charge per unit remained stable at 38% (slightly more than a third)
• The overall price index remained stable at +0.48%
• The Contemporary fine art toll index was up +four.44%
• Top 500 Contemporary artists past auction turnover

Read our 22nd Almanac Written report on the Global Art Marketplace at:
https://world wide web.artprice.com/artprice-reports/the-art-market-in-2019

2019 Contemporary Fine art Market Report

The Contemporary art market place has grown 1,800% in nineteen years and its price alphabetize rose 22% in 2018/19.

A veritable marketplace within a market

In commercial terms, the trade in Contemporary artworks is today a veritable marketplace inside a market. Our 21st Contemporary Art Market Written report focuses on the over 70,000 Contemporary works at present bought and sold annually at auctions around the world. This is almost the same number as for the entire Art Marketplace in the early 1990s.

The Contemporary Art segment may exist the marketplace's most volatile segment, but it is not 'speculative' in the negative sense of the discussion. Most Contemporary artists are alive today, and then the segment naturally generates the highest returns on investment considering the value of the works is itself being created, lilliputian by little, as the artists' productions expands and each creative person finds his or her identify in Art History.

SUMMARY

• General synopsis & key figures
• The geo-politics of the Contemporary Fine art market place
• The best auction houses
• The pinnacle-selling artists
• African artists breaking through
• Top 100 Contemporary works sold at sale
• Top 500 Contemporary artists by auction turnover

Artprice by Art Market'southward Contemporary Art Marketplace Study – an indispensable tool for participants and attendants at the major autumn art fairs (Frieze and Fiac in particular) – is available free of accuse at the post-obit accost:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-study-2019

Global Art Marketplace in H1 2019:
Stronger Demand for Contemporary Art

Global Figures:

1. Turnover in the USA (-20%), China (-12%) and the Great britain (-25%) has contracted**
2. The number of lots sold betwixt $10 and 100 million dropped by 41%
3. Pinnacle quality Modern (-21%) and Old Master (-38%) works in brusque supply
4. Claude Monet dominated the H1 2019 with 23 works sold for €251 million
5. Contemporary Art prices posted an increase of +40%
6. New record for a living creative person: Jeff Koons' Rabbit (1986) fetched $91 1000000
7. Average annual return works out at +4.6% on an boilerplate holding of 13 years
8. Tighter supply pushed prices up
9. The volume des Fine Art* transactions was up very slightly: +0.1%

*Public sales of Fine art (paintings, sculptures, drawings, photographs, prints, installations). **In collaboration with Art Market Monitor of Artron (AMMA).

Demand intensifies for Gimmicky art equally supply contracts and prices rise.

"We are seeing a tightening of the balance between supply and demand in the Fine art Market," explains thierry Ehrmann, Artprice's Founder/CEO.
"The results testify persistent need for museum-quality works, but the secondary market'south supply has tightened somewhat. The Art Market – as we have known it since 1975 – appears to be reaching its structural limits: auction houses are struggling to maintain their operating margins and as well to convince collectors to sell their best pieces. They are constantly increasing their buyer fees while simultaneously inventing new ways of reassuring sellers. Guarantees tin encourage some sales, merely this mechanism doesn't represent a global solution. It's time for the Fine art Market to start a new digital era".

The recent acquisition of Sotheby'southward and Artprice.com'southward metamorphosis into Artmarket.com (its new visitor name submitted to the Extraordinary Full general Meeting) are two changes that clearly reflect the Art Market's entry into the age of the Internet.

• Key Figures
• The New "Classics" of Contemporary Art
• Soft Power: the wrinkle benefits Hong Kong
• Art'south fiscal performance attracts investors
• .../...

Now bachelor online at:
https://www.artprice.com/artprice-reports/global-art-market-in-h1-2019-by-artprice-com

Artprice'southward 2018 Annual Art Market Report: record number of global Fine art auction transactions since 1945 and greater buyer selectivity

The Art Market enters a new era on the dorsum of excellent growth

Artprice100© "The Wolves of Wall Street at the gates of the Art Marketplace"

The Artprice100® index shows an increase of +380% since 2000
Or an almanac average return of +8.6%

Eight artists changes in our Artprice100® index betwixt fiscal year 2017 and 2018 In 2000, only 1 Chinese artist (Zhang Daqian) qualified for inclusion in our Artprice100® index compared with sixteen in 2017

An efficient, liquid and transparent Fine art Market place, similar to a financial market place.

In a world where many Western countries now mail quarterly economic growth rates well below 1%, the Art Marketplace has in one case again confirmed its efficiency, liquidity and transparency… just similar a financial market.

A spectacular increment in transactions with 538,000 works sold in 2018, an absolute tape since 1945, despite the relative torpidity of the global economic system.

2018's global auction turnover total was very impressive with an overall figure of $15.48 billion.

A global economical reality in the 21st century, the museum industry® is driving the Fine art Marketplace.

In 2018, 26.2% of our Top 500 global artists are Chinese, illustrating the power of China vis-à-vis the United States which only account for 17.4% of the Top 500 artists.

The Art Market place in 2018 chapters:
• Editorials: thierry Ehrmann & WAN Jie
• General Synopsis
• From New York to Beijing
• Edifice the Chinese Art Market
• Affordable art
• Multiple records
• "Crazy" sales
• Abstraction… more than just American
• Artron's market tendency analysis
• The All-time of Chinese Art in 2018
• Western Former Masters
• Investing in Art
• The Peak 100 sale results
• The Superlative 500 artists

The report includes Artprice's now famous ranking of the world's 500 about powerful artists, the Top-100 auction results of the year, data regarding our Artprice100® index at present used in trading rooms, analyses past country and past majuscule, analyses past creative periods and by creative media... and a selection of Artprice market indices, and even more than: Soft Power, Trends, Fiscal returns, etc...
Read our 21st Annual Written report on the Global Art Market at:
https://www.artprice.com/artprice-reports/the-art-market-in-2018

The Contemporary Art Market place report 2018

Artprice ahead of the Frieze and the FIAC presents its 2018 Contemporary Art Market Written report: Plus i,744% turnover growth in eighteen years, an 8.1% almanac yield.

1. Global turnover was up 19% to $i.9 billion
2. The number of lots sold rose by 17%, with 66,850 auction results
3. The global unsold rate remained stable at 39%
4. The Contemporary Art Price Alphabetize posted an increase of 18.5%
5. Since 2000/2001, global turnover has risen 1,744%, from $103 million to $one.9 billion
6. Since 2000/2001, the lots sold total has multiplied v.5x from 12,300 to 66,850
7. Contemporary Fine art auction results were recorded in 59 countries last year
8. New York, London, Beijing and Hong Kong deemed for 82% of turnover, on 17% of global lots sold
9. Greater Cathay (Hong Kong and Taiwan included) generated $480m, i.due east. 26% of the global market
10. Europe had an exceptional year: France +81%, Germany +twoscore%, Italy +31%
11. Kingdom of the netherlands, Belgium and Austria each generated over $8 meg
12. South korea ($8 1000000) and the Philippines ($5 million) bring Southeast Asia into the global marketplace
13. Commonwealth of australia ($10 meg) and New Zealand ($5 million) are in the superlative 20 marketplaces
14. South Africa ($6 1000000) leads Africa, with Morocco and Nigeria far behind
15. The Eye East is represented past Turkey ($5 million), Iran ($3 million), UAE ($2 million) and Israel ($i million)

*Fine Art at Public Auction: painting, sculpture, drawing, photography, prints, installation
**In collaboration with the Art Market Monitor of Artron (AMMA)

A full market is at present active on five continents.

The chapters explore the hottest topics in the global market and provide answers to questions that any art lover, collector, professional or curator who is active in the Contemporary Art Market might have...

General synopsis. Contemporary art's marketplace performance

Stimulated past a sensational record of $110.5 million in May 2017, the Contemporary art Market place has just ended a tertiary sequent semester of growth. The principal drivers of this growth are ever-stronger need for works by the stars of Gimmicky fine art and a proliferation of supply in a particularly favorable economic context.

Other capacity:
• Artists' prices
• Africa and its diasporas
• In the news
• Top 100 Contemporary Artworks
• Superlative 500 Gimmicky Artists

Now available, the new 2018 Artprice Contemporary Art Marketplace Report provides decision support tools that analyse the evolution, the organization and the latest trends in the Contemporary Art Market:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2018

H1 2018 Global Fine art Market Report, by Artprice.com

All economic indicators are positive

1. Global auction turnover on Fine Art* rose 18%, totalling $viii.45 billion
2. Transactions remained stable with 262,000 lots sold, up ii.5% vs. H1 2017
3. The USA posted a massive 48% increase, with total turnover of $3.3 billion
4. Communist china**, with $2 billion in turnover, reduced its unsold rate before a decisive H2
5. The UK is just behind People's republic of china with sale turnover up 18% to $1.9 billion,
6. The European union is contributing to growth: French republic +8%, Germany +17%, Italia +22%
7. Modern Fine art, the high-terminate market'south mainstay, accounted for 46% of total turnover
8. Modigliani and Picasso both generated results above the $100 million threshold
9. Zao Wou-Ki was Red china's best-performer in H1 2018 with turnover of $155 million
10. Gimmicky Fine art'south global price index rose 27%, rivalling the Southward&P 500

*Fine art Public Auction: painting, sculpture, drawing, photography, prints, installation
**In collaboration with the Fine art Marketplace Monitor of Artron (AMMA)

A new worldwide stability

Global Fine Art sale turnover amounted to $ 8.45 billion in H1 2018, an increment of 18% versus the year earlier period. The Art Market is therefore pursuing the renewed growth which started in H1 2017 (+9%) and was confirmed in H2 2017 (+32%).

The consummate H1 2018 Global Art Market Report, by Artprice.com:

• The USA again leader thank you to Modern Art
• London capable of competing with New York
• Communist china reduces its unsold rate before a decisive 2nd one-half: the soft power boxing with the US intensifies.
• Europe is modestly participating in the growth
• Top 30 auctioneers past Fine Fine art turnover in H1 2018
• Domination of 20th Century Art
• Investing in Fine art
• Top 50 artists by sale turnover,

At present available online at:
https://www.artprice.com/artprice-reports/global-fine art-market-in-h1-2018-by-artprice-com

The fine art market enters a new phase

2017 marks a return to worldwide growth for the art market. After ii sequent years of contraction (-x% in 2015 and -23% in 2016), global art auction turnover increased by +20%, equivalent to a spectacular turnaround of +40% (absorption of the contraction plus boosted growth). This operation is all the more significant as it was generated by a combined recovery of both the Western and the Chinese markets, with each marketplace generating a new historical auction event as well.

The year 2017 will remain a decisive yr for 2 reasons.
On the i hand, considering a new price range (unthinkable but a few months ago) has been reached, with the huge gap between the previous all-time art sale tape and the new one (between $180 million and $450 1000000) spring to be filled incrementally by upcoming sales of museum quality works.
On the other paw, because for the first time since the eclosion of the Chinese market (2008), the major powers of the Art Marketplace have together demonstrated all the signs of house and durable growth. And lastly because 2017 has proved across whatsoever uncertainty the validity of the model developed (and IPR protected) past Artprice which details and forecasts all of the economic, financial and sociological phenomena inherent to "the Museum Industry" ®.

• Soft Power: China get-go, the USA simply behind
• An increasingly diversified global market
• The structure of the Art Marketplace in 2017
• The Western Market
• The Chinese Art Market

The "Quality over Quantity" strategy of Chinese Art Auction Market has paid off

Ranking of the Top 500 artists past auction turnover
European artists accounted for nearly half of the earth's Top 500 artists last year, alee of Asia (162) and North America (82). The ranking also contained 12 Latin American artists, 6 Africans and 6 from Oceania. Although still modestly represented in the Top 500, these latter regions are indeed becoming increasingly of import on the global Art Market place as a whole.

Much more than to discover in:
The complete Art Market in 2017 (Annual Report by Artprice.com) bachelor online:
https://www.artprice.com/artprice-reports/the-art-market place-in-2017/

2017 The Contemporary Art Market place worldwide, by Artprice.com

The celebrated record of $110.5 million for a Contemporary piece of work illustrates the segment'southward extraordinary financial potential. The rising of this segment, the Fine art Market's primary growth driver, is fuelled by a virtuous circle that makes Contemporary Fine art an omnipresent dimension of our cultural landscape.

Content:
• Gimmicky Art's virtuous circle
• Renewed growth
• Current trends
• Popularity of Street Art
• Towards Art Market place gender equality
• The financial appeal of Gimmicky Fine art
• Interviews: Madelaine D'Angelo ; Alex Chang
• 2017 Summit 500 Contemporary Artists

The Artprice Contemporary Art Market Report 2017 is at present bachelor: https://world wide web.artprice.com/artprice-reports/the-gimmicky-art-market-report-2017

H1 2017 Global Art Marketplace Study, past Artprice.com

H1 2017 saw a full general recovery of the Art Market, with turnover up five%

1. Global art auction turnover reached $6.9 billion in H1 2017
2. Prices in the Gimmicky segment rose 9.6%
3. With $2.2 billion, the USA overtook Prc's $2 billion
4. The Uk and France contributed to the recovery, up 13% and seven% respectively
5. Contemporary Art accounted for 15% of global turnover, vs. 3% in 2000
6. A piece of work by Jean-Michel Basquiat (born 1960) fetched $110.v million
7. The auction unsold charge per unit improved by 2 percentage points versus 2016

Global overview

At a global level, the Art Market place was in better shape in H1 2017, ending two consecutive years of slowdown.

Global figures

More than than 228,700 Fine Art lots sold worldwide during the first six months of 2017, generating a full turnover of $6.nine billion (including fees). These results were recorded at more than 3,054 public sales that are subjected to Artprice's systematic and detailed analysis. Artprice has been global leader in Art Market information since 1987. This half-year report covers all public sales of Fine Art (painting, sculpture, drawing, photography, printmaking, installations).

The consummate H1 2017 Global Art Market Report, past Artprice.com:

• China and the United States, cervix-and-neck,
• A new era of prosperity in the West,
• Restructuring of the Chinese market,
• New collector preferences,
• Top 50 artists by sale turnover,
• and much more than...

is available online at:
https://www.artprice.com/artprice-reports/global-fine art-market-in-h1-2017-by-artprice-com

Financialisation of the fine art market place

Throughout 2016, auction operators have demonstrated their capacity to stimulate need despite a climate of doubt. Red china has managed to stabilise its sale turnover, while the West saw its highest level of transactions ever recorded (398,000 lots sold). In both the East and the W, a focus on consolidating the core of the market took priority over the race towards new auction records.

This market place configuration owed much to an intensification of competition between the marketplace's unlike players that has, in plow, led to a more than stable and solid market environment. In 2014, Sotheby's yielded to pressure from its shareholders, including hedge-fund managing director Daniel Loeb. After 34 years of loyal service (including xiv equally CEO), William Ruprecht handed the reins to man of affairs Tad Smith. At Christie's, a series of CEOs from major industrial groups have attempted to make the organisation always more than efficient: Steven Spud in 2010, Patricia Barbizet in 2014, Guillaume Cerutti in 2016. An acceleration of personnel changes in central positions also reflected the tougher competitive environment, initially at the auction houses, and and then later throughout the Art market as a whole. In Dec, Brett Govry defected as caput of Postwar and Contemporary art at Christie'due south to join the Galérie Dominique Lévy.

Today, the Art Market place's dependence on the financial sector is palpable at nearly every level. Recall that major banks (UBS, Deutsche Bank, JP Morgan, etc.) have get powerful partners in major artistic events (art fairs, biennials, exhibitions, awards, etc.) that substantially influence the success and prices of artists. Meanwhile a number of major multinational corporations are actively enhancing their public images by partnering with artistic causes, or by building their own exhibition centres, like the Louis Vuitton Foundation in Paris.

The upper echelons of the Art world are nowadays intimately continued with industrial and fiscal power whose requirements have given the market a new level of efficiency. The result is that every item in the major players' cost & income statements is existence carefully scrutinised. During his outset year at the caput of Sotheby's, the new CEO Tad Smith imposed a vigorous voluntary departure plan. The firm has too adapted its heir-apparent's premiums twice over the final two years and we are seeing a multiplication of the incentives used to convince buyers and sellers of artworks: guarantees, online auctions, etc...

Ranking of the Top 500 artists past auction turnover
In 2016 the ranking saw a lot of motility. It is at present essentially composed of 41% European artists, thirty% Chinese artists, 15% Americans artists and 15% other nationalities.

The complete Art Marketplace in 2016 (Almanac Report by Artprice.com) is available online: https://www.artprice.com/artprice-reports/the-art-market-in-2016

Artprice: Gimmicky Fine art Market Annual Report: + 1,370% in sixteen years, generating an boilerplate annual return of 5.6%

On the whole, the Gimmicky art market is substantially assisting over the medium and long terms. Despite several adjustments and corrections, our price alphabetize shows that the segment has retained the vitality it acquired in the early 2000s. Its 1,370% turnover growth in 16 years reflects an extremely dynamic market.

The chronique financial and economic crunch affecting the world since 2007, prompting widespread recourse to negative rates, has made the Art Market expect similar an oasis in the desert. Co-ordinate to thierry Ehrmann, Artprice's founder and CEO, the market is undergoing an orderly period of adjustment that was both necessary and predictable, and Contemporary Fine art has clearly occupied the centre stage.

Gimmicky art will ever be the art marketplace's infrathin: constantly criticised for its record auction prices, its difficulty of interpretation and its inherently subversive nature. In many respects its critics are unwittingly fundamental contributors to the Contemporary art market, and Marcel Duchamp's understanding of the fusional relationship betwixt the market and its detractors is still perfectly relevant.

Hence the annual evolution of our world ranking of the peak 500 artists by auction turnover - who all savour relatively robust and firmly established markets - conspicuously shows a coherent and structured market too equally revealing the preferences of collectors and art professionals.

In buying Contemporary works of art, collectors and art consumers consciously accept that they cannot know what History will make of the artists they acquire. However, the terminal sixteen years have shown that a well-diversified portfolio of Gimmicky artworks generates an annual yield of 5.6%, higher than the art market equally a whole.

New decision-support tools:
• Short, medium and long-term runway record
• Market geography and market economics
• Yield, risk and liquidity
• Market restructuring
• Trends and performances

Practice not forget: The Top 500 Contemporary artists:
The individual auction performances of the world'south Top 500 artists paints an interesting motion-picture show of the Gimmicky art market. Although information technology is dominated by the major American signatures, the ranking reflects the diverseness of the market's offer and indicates the latest preferences of collectors. Korean, Filipino and Cuban artists were particularly present last yr.

The Artprice Contemporary Fine art Marketplace Almanac Report (2015/2016) is freely bachelor at the post-obit link: http://www.artprice.com/artprice-reports/the-gimmicky-art-market-report-2016

Artprice's h1 2016 Art Market written report: Defying all forecasts... China upped 18%, dominated the global Fine art Market in the showtime half of 2016

Global figures
Worldwide, more than than 252,000 Fine Fine art lots were sold in the offset six months of 2016, generating a total turnover of $six.53 billion (including fees). Artprice, world leader in Art Market place information since 1987, has systematically analysed over 3500 sale sales to produce a detailed half-year study covering public auctions of Fine Fine art (painting, sculpture, drawing, photography, printmaking and installations).
Transactions rose 3.two% while sales turnover dropped -25%, almost entirely due to a reduced offer of major masterpieces (works priced over $x million) in all artistic periods.

Co-ordinate to thierry Ehrmann, Artprice's founder and CEO, with its overall economic system on meltdown sentry for a number of semesters, Communist china had been expected to lose its 'soft power' battle with the United States on the global art market place this twelvemonth. Its return to the global leader position with a turnover up past more than $570 million is therefore a major surprise.
Another surprise on the global art market has been the by and large low unsold charge per unit and the dynamic pace of transaction growth, both conspicuously demonstrating the art market'southward capacity for adjustment and safe-oasis attractiveness compared with financial markets and standard investment returns.

• China returns to the leader position as the world's largest art market with a +xviii% increase
• Hong Kong posted h1 growth of 10%
• Market place liquidity has been guaranteed by transactions volumes up 3.2%
• The Western sale market posted a stable unsold rate of 28%
• Low supply of masterpieces reduces Western auctioneers' turnover.<
• Fewer records, but stronger action
• The market toll index is down vs. January 2015, but gained 10% in the 2nd quarter of 2016

Download now: Artprice's h1 2016 Art Marketplace written report >>>

Artprice'southward Global Art Market Annual Report for 2015: with constant price growth, the fine art market represents a veritable culling to financial markets. USA recovers top position From China

In 2015, the U.s.a. recovered its leading position on the global art auction marketplace after losing it to Mainland china for five years. Prc still has by far the strongest market place for Quondam Master fine art in the world. In the global competition for cultural influence, art represents a key cistron in what is nowadays referred to every bit Soft Power, and in a number of countries, this power is actively pursued (e.chiliad. the Us, Communist china and, on another scale, Qatar).
So this is the macro and micro-economical ground of today'south Art Marketplace: a market place that has emerged for the concluding 16 years as a safe haven confronting economic and financial instability, with substantial and recurring returns.
Against a properties of negative interest rates and contracting stock markets, the Art Marketplace looks remarkably salubrious with its Contemporary segment alone posting a 1,200% progression of annual turnover over the past 16 years and a +43% linear progression of the average value of an artwork. These returns are not limited to star signatures; in fact our data shows that works valued at above $xx,000 already generate pregnant annual yields of 9%.

The Art Market is an efficient, historical and global marketplace whose power to withstand economical and geopolitical crises is well established.
Art prices keep changing calibration. Topping at around the $10 million threshold in the 1980s and then reaching the $100 1000000 bar in the 2000s, the New York Times reported the sale of a Gauguin painting to a Qatari heir-apparent for over $300 million (NYT, 5 February 2015). Artprice believes it volition not be long before the billion-dollar threshold is crossed.
In 2016 the Art Marketplace has already demonstrated that it has moved into a college gear after a private sale organised by Christie'south generated $500 million, including $200 million for a Jackson Pollock canvas and $300 1000000 for a painting by Willem de Kooning, equalling last year'southward Gauguin record.

The Art Auction Market: Art Market News / 3 works fetched over $100 million / Key Figures / The Chinese Fine art Market / Leading marketplaces and geostrategic competition...
Download at present: Artprice's Global Art Market Annual Report for 2015 >>>

Artprice - your insight into the fine art marketplace

The fine art market's master marketplaces:

New York - the Mecca of Contemporary art
The United States has recovered its leader position on the global Contemporary art market, resuscitating the trigger-happy competition with China. In total the Us generated $650 million from Contemporary fine art, nigh $90 million more Prc. This stiff performance was essentially driven past New York, the global capital of the art market place. New York is home to the biggest fine art collectors, the about powerful galleries and the most prestigious museums. It besides has the strongest networks, assuasive the fastest emergence of young artists in the globe.

Communist china slows, but remains potent
The contraction of the Chinese Contemporary art market (-36.9%), with turnover of $542 million versus $860 meg the previous year, is indeed substantial. All the same the slowdown seems to have been largely triggered by a combination of exogenous factors, start among which is undoubtedly the desperate anti-abuse bulldoze initiated past President Xi Jinping which temporarily paralysed the land's luxury goods sectors and its art market. In the absence of clear legal definitions, a large section of the PRC's wealthy population has temporarily refrained from making "improvident" acquisitions. At the same time, the wrinkle of the Chinese art market has a number of similarities with the recent evolution of Chinese stock markets and it has mirrored a precipitous slowdown in China'due south economic growth that reached its lowest level in 25 years at end-2014. In short, economical reality has inevitably had an impact on the state's art market. However, it is also valid to consider the slowdown every bit a natural adjustment to the astounding growth by the Chinese art market in recent years.

Europe's turnover largely dependent on London
European artists are well represented on the global auction marketplace. Generating a quarter of global Contemporary fine art auction turnover, they business relationship for a larger share than Chinese artists. After the Americans and the Chinese, the best performing nationalities on the Contemporary fine art auction marketplace are the Germans (10.8% of the market place), followed past the British (10.7%), the Italians (two.vi%), the Japanese (two%), the Indians (one.5%), the Swiss (0.9%), the Brazilians (0.8%) and the French (0.8%).

The Gimmicky Fine art Auction Market: Fundamental Figures / Career Paths / Major Prizes / Focus on the Art Photography Market...
Download now: The complete Contemporary Art Market Report 2015 >>>

Artprice: the 2013/2014 Gimmicky Fine art Market Written report is at present online

thierry Ehrmann, the CEO and founder of Artprice: Artprice.com is pleased to present its 8th exclusive study on the contemporary art marketplace.

Download it now on Artprice for free:
http://imgpublic.artprice.com/pdf/artprice-gimmicky-2013-2014-en.pdf
It contains original rankings, such every bit the Top 500 contemporary artists according to turnover.

Artprice permanently enriches its databanks with information from 4,500 auctioneers and it publishes a constant flow of art market trends for the world'south master news agencies and approximately 6,300 international press publications.

Tape-breaking year for the Contemporary Fine art market, with revenues smashing the US$2 billion mark (July 2013 - July 2014).

The 2013-2014 catamenia for the contemporary fine art sector has never been and then competitive or speculative with a record set by Jeff Koons' gimmicky work of fine art sold €38.viii million, a record number of sale sales reaching the one thousand thousand dollar/euro threshold and a record sale turnover for a Post-State of war and Contemporary Art sale.

In 4 brusk years, the global turnover accomplished in the sale room, irrespective of period, has near doubled since the slowdown of 2009/2010: a period that registered a price drop of 48%.

Abundance has non been slow to return, buoyed upwards past a marketplace structure that has inverse significantly in many respects, including the increased globalisation and dematerialisation of sales. The galloping speculation of the period between 2004 and 2007 is in one case more to the fore and the contemporary marketplace is more affluent than during the micro-chimera of 2007: a year of rocketing prices, with revenues for the year up by 50% for a similar number of works sold.

A new superlative was achieved this year – the best in the history of contemporary art at sale in terms of auction turnover, price rises and record bids.

The cost index of artists born after 1945 has followed the trend, reaching unprecedented heights and fifty-fifty topping the levels attained at the height of 2007 by fifteen%. All in all, the global index of contemporary fine art prices has risen past over 70% over the decade.

The art concern is flourishing in a bubble that never bursts, and in standing growth as regards works at the very acme terminate of the market. This yr, the high-end marketplace acclaimed thirteen contemporary works with prices of over €x 1000000, and designated the most expensive piece of work in the world: a behemothic Balloon Domestic dog by Jeff Koons, sold for over €38.8 million.

The nearly speculative names in fine art - considered safety investments by some despite the sector'southward volatility and wild fluctuations in price - are driven by powerful trendsetting gallery networks, curators and purchasing consultants, and by various leading players in the art market, of which the leading sale houses grade an integral part.
Prosperity depends simultaneously on tried-and-tested mechanisms and the voracious appetite of investors behest from all over the globe. The contemporary art market has become an economic UFO with the globalisation of demand, which involves the arrival of extremely rich investors en masse.

Attracted by the diversification of investment and exceptional yield rates, demand has increased substantially, pregnant that five times more than works are sold today than 10 years ago, at toll levels that acquit no comparison.

A PDF version of the Artprice Contemporary Art Marketplace Report is downloadable from Artprice.com in French and English. The German, Italian, Castilian and Chinese versions are also available.
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Artprice: The Art Market 2013 +xv % All-time year ever

As Artprice had sensed, and indeed written, during 2013, this was indeed the best year ever recorded in auction history (over $12 billion), and the all-time sale e'er for Christie's in its 247 yr-erstwhile history ? accomplished in addition for mail-war and gimmicky art, with an absolute record for a hammer price: $127 million. This went to a piece of work past the British creative person Francis Salary. 2013 was marked by most 15,000 new records for artists, and over 23,000 if start bids are included.
This splendid year was shored up by a globalised demand, particularly with buyers from Asia, the Middle East and Russia, who played a crucial role in the marketplace'due south fine performance, and displayed a voracious ambition for flagship artists of the 20th century, landing them in a spate of records.
Artprice.com has been the earth leader in fine art marketplace information since 1987. Each yr, information technology analyses auction results throughout the world, together with variations in the market, quoted values and price indexes for artists and works, and the forces involved in this specific market. It also examines the various cultural sensibilities and the intrinsic relationship between art and money, which produces much covetousness, and a few disappointments as well.
Download the complete PDF format document (Costless download)

Artprice : The Art Market 2012 - a dialogue between East and West

For this study of the global art market in 2012, Artprice has formed an alliance with Artron, the leading information service on the art market in Mainland china within the Greater Asia region, in guild to provide the best possible overview of the fine art auction marketplace.
For years, Artprice has taken the utmost involvement in collecting the data of the Asian fine art market and more specially the Chinese market. However, Artprice was missing a key chemical element: the cultural and sociologic analysis that fundamental role player Art Market Monitor of Artron (AMMA) merely could provide, co-ordinate to Thierry Ehrmann, the founder and CEO of Artprice. With the art marketplace now bipolar, entering into a dialogue betwixt Eastward and W has enabled us to come to an unprecedented cross-cultural analysis of the market.
In fact, we are analysing a bipolar art marketplace that has grown in China and the Westward and at different speeds in different cultural terrains and co-ordinate to different standards. In comparison with 2011 figures, released by Artprice in its almanac report, those of 2012, co-released by Artprice and Artron, show an increase by 6.ane%.
There has of form been a globalisation effect due to the dematerialisation of the fine art market through the Cyberspace and the nomadic nature of collectors. And of class it is clear that bridges have been built between East and West and that the creation, supply and demand of art sometimes overlap at certain points. But we cannot say that art has become totally homogeneous. On the contrary, the art market exacerbates cultural differences by reflecting the gamut of artistic choices. Chinese collectors are not inclined to buy a Western slice of art that they notice is also far removed from their cultural parameters. Instead, they prefer traditional styles, ancient calligraphy and, more than recently, contemporary "experimental" ink art. Likewise, Western collectors mainly buy the works of artists who speak their language, including some Asian artists who have assimilated Western fine art history.
So the thought of a globalised fine art market should exist taken with a pinch of salt. In whatsoever instance, it is a little premature for Western and Chinese readers to exist finding their bearings in an analysis of the global fine art market that is bent on combining information from Due east and W at all costs. In order to provide a clear and transparent assay for our unabridged global readership, this year our report is made up of an introduction that covers the results of art sales effectually the globe in 2012, followed by two singled-out chapters. The first of these concentrates exclusively on the art marketplace in the Westward and Artprice data, while the 2d focuses on art in Cathay and Artron data. This fertile relationship betwixt Artprice and Artron has led us both to examine our areas of overlap and divergence and to expect at the way a new geopolitics is evolving in the fine art market place of the 21st century.
For the by ten year, Artprice has published its exclusive annual art market place report – available in 6 languages –, which is distributed to over 6,300 media organisations and international institutions every yr. Based on half-dozen.3 one thousand thousand auction results from iv,500 auction houses around the world, the report contains macro- and micro-economical analyses providing the keys to understanding the annual evolution of the global auction market. It discusses the major trends in the market, analysed throughout the year on the ArtMarketInsight page of our website, by the Artprice press bureau and jointly by the Artprice and the Art Market Monitor of Artron Econometrics Department. To complement this objective appreciation of the fine art market based on a twelvemonth of global auction results, Artprice and the Art Market Monitor of Artron as well offering numerous original rankings such equally the Top 500 artists by auction revenue and the Elevation 100 auction results of the year.
Download the complete document in English - PDF format (Free download)
Download the consummate document in Chinese - PDF format (Free download)

A loftier-stop market unaffected past the crisis

With the subprime crisis giving fashion to the debt crunch, the economic record for 2011 was particularly bad in the Western world, marked by jumbo debt ratios in Greece, Italian republic, Spain, Portugal and the UK, a destabilization of European budgetary marriage and swelling public debt in the The states. The downgrade of the United states by Standard & Poor's this year broke a taboo marking the end of the affiliate representing the American model since 1945. The debt crisis and subsequent thrift policies accept had catastrophic repercussions. Afterward the summer, the recession in Europe led to the amputation of cultural budgets and subsidies. In the Great britain for example, cultural resources were cut by 30% between 2010 and September 2011. Naturally, this unhealthy climate has resulted in collateral damage on the art marketplace. Many galleries have suffered in Europe and some have closed store. More by and large, the art market has experienced a massive crunch of conviction following the meltdown of financial indicators. Between late July and the end of September, while the S&p 500 appear drastic falls (loss of 17% between July 21 and August 22, then -5% in September), Artprice's Art Market place Confidence Index (AMCI) fell below zero for the first time since the offset quarter of 2009. Business concern over financial and economic developments upset confidence in the resilience of the art market. Nevertheless, the feet but needed 1 potent signal from the market to be subdued, and confidence returned in October thanks to the success of the major Contemporary Fine art fairs (Frieze in London and FIAC in Paris) and, higher up all, after some stunning auctions results in the second half of the year.
.../...
The debt crisis coupled with the turmoil on fiscal markets has driven numerous investors to fall back on art which has over again played its historical part as a value haven1.

excerpt from:

Art Market place Trends 2011

© 2012 artprice.com

China: the new global leader

An electroshock in the history of the global art market! China is now the earth leader in Art auction sales and four Chinese artists are among the most sought-afterwards artists in the world at the very top of the artists' ranking by annual auction revenue for Fine Fine art (prints, photographs, paintings, drawings, sculptures and installations).
To reverse the polarity of the global art market from West to East, China has done without artifices such as art gallery figures (a more opaque private market than the public sale market) or even furniture or traditional Chinese art objects (the prices of which are shooting up worldwide).
With a Fine art almanac revenue total of $3 billion in 2010, Prc overtook the United States, which at present finds itself in second position with 30% of global revenue. The Great britain was tertiary with a global share of 19% from revenue of $1.8 billion and French republic was fourth with $475m, i.eastward. a 5% share vs. thirteen.ix% in 2009.

extract from:

Art Market place Trends 2010

© 2011 artprice.com

Art World Us / UK / China / France: the fight for market supremacy

The market purge essentially diminished revenue totals.
With $1.3 billion in 2009, the U.s. was nonetheless the leading market place place for Fine Art sales despite generating 55% less than in 2008. The United kingdom maintained its second place with a revenue full of $ane billion, down 65% versus the previous year.
The wrinkle of the Anglo-American markets (which nevertheless deemed for 49% of global auction sales) was largely a result of the slower footstep adopted past Christie's and Sotheby's. The number of works offered by the two marketplace leaders was cutting past 34% and 47% respectively compared with 2007.
This volume reduction had a direct impact on their revenue totals: Christie's totalled 57% less than in 2007 and Sotheby's lost 60% of its almanac revenue full. Together, the two marketplace giants generated lx% of total global revenue from merely 10% of full global transactions. However, this fi gure was down compared to 2008 when the two giants accounted for 72.iii% of global revenue from 15% of global Fine Fine art transactions. In contrast, Communist china'south auction revenue rose past a substantial 25% in 2009 (to $830m).
Hence, the world's no.3 marketplace expanded while the UK and the USA both contracted. China is now merely $170m behind the Great britain and today represents 17.4% of global Fine Fine art auction acquirement vs 7.7% in 2008. French republic, the globe'south fourth largest marketplace, posted a 31% increase on the back of the Pierre Bergé/Yves Saint Laurent sale which generated 40% of its annual acquirement from Fine Art ($265m of the $665m total in 2009).

extract from:

Art Market Trends 2009

© 2010 artprice.com

Gimmicky Fine art

Volatility of contemporary fine art prices
While the 1991 crisis made auction sales considerably more difficult, that of 2008 implies a greater caste of selectivity on the hottest segments of the market: Post-war and Contemporary art, particularly on the then-called «emerging» Asian markets. Th eastward new generation of collectors has invested en masse in contemporary artists with whom they feel about in sync, but they have also focused much of their cash on the most speculative signatures of the moment.
This miracle is reflected in our ranking of the Acme 10 artists of 2008 with 2 living artists parading alongside the world's biggest revenue earners: Damien Hirst and Gerhardt Richter. In 2008, Mail service-state of war art (i.e. by artists born betwixt 1920 and 1944) and Contemporary art (artists born later on 1945) represented 32.3% of global Fine Art transactions and close to 35% of global art auction revenue. In fact, during the twelvemonth, the about recent fine art was more probable to fetch six effigy bids: whereas 3% to 3.three% of transactions in the combined segments of Postal service- War, Modern and Contemporary art fetched over $100,000, this ratio rises to 6.5% in the Contemporary segment lonely. The same proportion of Old Masters besides fetched over $100,000; but the overall number of lots was substantially smaller (20,000 vs. fifty,000 in the Contemporary segment). Every bit the virtually volatile sector of the market, Gimmicky art is the first to suffer from the crisis and information technology has already seen some very sharp price adjustments: Artprice'southward global fine art toll alphabetize shows that Contemporary art works lost 34.iv% of their value in 2008 – the sharpest wrinkle of all the segments – back-pedalling ii years of speculation to 2006 levels.

excerpt from: Fine art Market Trends 2008
© 2009 artprice.com

Asian Market

Communist china moves up to the number 3 position in the global fine art market
In geographical terms, France traditionally takes third identify in the global art revenue ranking behind the United States and the UK. However, in 2007 it was relegated to fourth position by China where annual revenue, additional by the major international auction companies, reached a higher level than in France. In 2007, the Chinese marketplace generated no less than 75 sales above the 1000000-dollar line with a top price of HKD 66 million (USD 8.v million) for a work by Cai Guoqiang - an accented record for a work of Chinese Contemporary fine art - followed by 2 Modernistic artists, XU Beihong (HKD 64 million) and ChHen Chengbo (HKD 45 million). Henceforward, sustained by chop-chop growing domestic demand and rising star artists commanding rocketing prices, China is capable of competing with New York and London on sales of Fine Fine art, frequently generating revenue figures reaching into 8 figures. And last twelvemonth, the most prestigious sales were not the exclusive privilege of Sotheby'due south and Christie's...
The Chinese fine art boom is also reflected in the number of auction houses and the volumes negotiated. Prc's arrival as a major thespian in the fine art world has proved even more spectacular on the particularly buoyant and highly competitive Gimmicky art segment. In 2007, 36 Chinese artists featured in the Artprice index for the elevation 100 Contemporary artists by sales revenues, with in 2d place, ahead of Jeff Koons, the extraordinary Zhang Xiaogang.

excerpt from:

Art Market Trends 2007

© 2008 artprice.com

Art Market players

Christie'due south & Sotheby's: who rules the global art market?
Every year, in New York and London, the prestigious Impressionist and Mod Art evening sales or Contemporary Art sales at Sotheby's and Christie'southward are the loftier points of the global auction flavor. They are always a neat spectacle, boasting catalogues stuffed with the marketplace'southward most exceptional pieces. Between them, these two auction houses at present virtually monopolise sales of a meg dollars and over. In 2006, of the 810 one thousand thousand-plus lots sold, 81 went under the hammer at these two leading venues.
In the current growth phase, contest betwixt Sotheby's and Christie'south is having a dynamising impact on the wider market. Of the 9,200 fi ne art auctions recorded by Artprice in 2006, the big ii hosted 842. This is eighty more than in 2004. Just, despite having merely 9.15% of total auction numbers, Sotheby's and Christie'southward handled 76% of the global fi ne art market's turnover. The boilerplate price of lots sold at the two market place leaders, who arrange the well-nigh prestigious sales, was $ 91,805. This compares to an average at all other auctions houses of merely $ 7,156.

extract from:

Art Market Trends 2006

© 2007 artprice.com

The pop segments of the market

The market'due south structure is evolving equally the contemporary art and photography segments are becoming more than popular than other market sectors.
Thus, the contribution of living artists to Fine Fine art sale sales jumped from vii.ix% in 2000 to 17.half dozen% in 2005. Prices in this segment (in dollar terms) climbed 12.5% in 2005 compared with viii.2% for Modern Art, -2.four% for 19th century paintings and 8.seven% for Old Masters works. Furthermore, on 12 May 2005, Christie's gear up a new tape for a gimmicky art auction past generating $ 31.vii million over and beyond its 2004 record of $ 102 million. And information technology only took 65 lots to attain this result! The auction owes its success to the strong interest amongst buyers in the major mail-war works on offer. The most expensive lot was Edward Hopper's painting, Chair Machine, (1965) which fetched $ 12.5 meg. Close on its tracks was Willem de Kooning'south Canvas Cloth which sold for $ xi.7 and thirdly a 1964 work by Mark Rothko which went for $ 9 million. The photography segment is now extremely popular amid collectors. In 2000 this sector only accounted for 3.4% of sales in volume terms, and $ 50 one thousand thousand (1.7%
of the marketplace) in value terms. The segment has go very important with an annual turnover of more than $ 93 million. In October 2005, photography works in New York had never been so lucrative. In seven auctions, Christie'due south, Sotheby's and Phillips together made $ 28.9 million in turnover. They as well set up an increasing number of records, the highest for the portfolios of Edward Due south. Curtis (1868-1952): The N American Indian fetched an impressive $ 1.2 million, thereby doubling its loftier estimations.

extract from:

Art Market Trends 2005

© 2006 artprice.com

Fine art Investment

Investment in the art market requires a cognition of the markets for private artists, but also of the associated investment risk. As with the stock markets, this is not insignificant. However, the art market is considerably less volatile. For example, from 1 January 1997 to ane June 2004, the average quarterly fluctuation in the Artprice Global Alphabetize was ii to iii times smaller than the same statistic for the Dow Jones IA and the S&p 500. The fine art market place is far less sensitive to economic crises and geopolitical events than other assets. Art prices held upward well in the wake of the xi September terrorist attacks and the Iraq war: our index contracted only 1.two% in the 3rd quarter of 2001, and, in the first six months of 2003, it rose seven%.
As with stock markets, the fine art market place contracts in times of uncertainty. The annual volume of art works sold at auction dropped 36% betwixt 2000 and 2003. While stock markets tend to price in the slightest concerns investors may have, at that place is no automated correlated reaction on the art marketplace. In effect, rather than compromise on toll, buyers and sellers of works of art become far more selective. At auctions, this translates into a college bought-in rate: between 2000 and 2003 the bought-in rate rose by nine%. The quality of the works bought and sold guarantees the return on investment, while the lower sales book fuels prices.

extract from:

Art Market Trends 2004

© 2005 artprice.com

Art Marketplace Places

New York remains the largest marketplace
With turnover of $ i,322 million for some 30,000 lots sold, the United States dominated the fine art market once again in 2004. U.s. auction houses accounted for 46.v% of the global fine fine art market compared with 42% in 2003, and total turnover generated in the United states rose 45% in 1 year.
A number of factors contributed to this substantial rise: an increment in sales book (+fifteen%), a dramatic cumulative ascension in prices (+18.5% on the New York market) and the
growing number of lots sold for over a meg dollars (229 works in New York, compared with 132 in 2003). Intense competition among the leading auction houses enhanced further the quality of works that changed hands in 2004, with New York benefiting the virtually from this race for the finest pieces. The Big Apple tree is by far the best market for selling works in the vii-figure range. Underlying this dynamic increase is a combination of factors: the inevitable wider accessibility of the fine art market, resumed growth on the financial markets, the dollar's depreciation and the search for culling investments. While an investment of $ 100 in the US art market place in 1994 yielded sixty% in 2004, information technology was a completely dissimilar story in France: an fine art investment of € 100 only yielded on average 2% in 10 years.

The changing face of the European marketplace
...

excerpt from: Art Marketplace Trends 2004
© 2005 artprice.com

Art market cycles

The international auction calendar is the main driver of the art market cycle. The heart of the market shifts week by calendar week, largely in line with what auctions are coming up on the three leading markets in France, the Usa and the Britain.
Each year the sale houses shut up shop over Christmas and New year's day. Business picks up once again in New York first, with 2,500 to iii,000 lots on offer in the 2nd half of January. London and so brings the hammer down on a similar number of artworks a couple of weeks later. From so on until mid-July, the Uk puts up a continuous weekly flow of more than 1,000 lots, which peaks at 2,000 to 3,000 lots per week at the end of the outset half, rounding off the jump/summertime sale season with a big number of prestigious auctions covering all categories of artworks.
In France, March and June are the busiest times, with close to 10,000 lots sold at sale in each of these two months. Merely by value, there can be no comparison with New York'due south auctions in the first three weeks in May, which commonly generate turnover in backlog of $600m-about a quarter of the annual total. 1-fifth of annual sales of lots valued at over EUR100,000 thus have place in under 3 weeks.
The number of auctions drops sharply from mid-July to mid-September. During this menses barely 3,000 lots per week are put up for sale worldwide. Simply Commonwealth of australia keeps the ball rolling, with some fine auctions in August. The second season only really kicks off in the last week of September, when all the principal markets hold some auctions. These are frequently relatively low key events, ahead of the more than prestigious sales held in November and early December. The market then gets into full swing for three or iv weeks in late autumn. Works valued in excess of EUR100,000 begin to come back onto the market. The commencement week in Nov is an especially busy time for the elevation end of the market, while, for all categories combined, the last week in November is the near hectic, with dozens of auctions held worldwide and 15,000 to 20,000 lots sold in less than a calendar week. This twelvemonth the war in Iraq and the economic downturn do not expect to accept disrupted the fine art market's shine running after all. Sales are going ahead at the usual footstep. The May auctions in New York, though unexceptional, reassured collectors. And the French auctions are being especially well received.

extract from:

Art Market Trends 2003

© 2004 artprice.com

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