Tefaf report shows 7% fall in global art sales as chinese. After two years of declining sales, the global market rose 52% to reach a total of 43 billion. The art basel and ubs global art market report is published on. Online art purchases are growing fast for lower price points, which is expanding the art market by enticing new buyers and introducing a greater number of. Commissioned by the european fine art foundation, organisers of the european fine art fair tefaf, the report is researched, compiled and written by dr clare mcandrew, a cultural economist specialising. Surprising news from melanie gerlis in the ft that the tefaf fair in maastricht will no longer produce its annual art market survey. This 7% rise means the market as a whole has roughly doubled in value over the past ten years. The art markets recovery in h1 2017 is therefore all the more remarkable for being led by the contemporary art segment. However, a promising trend counteracting this to some extent is the growth in online sales, which has encouraged a greater volume of. Despite several adjustments and corrections, our price index shows. The tefaf art market report 2015 is a wide ranging report that examines the global art market in 2014 but also looks at individual sectors within the market, changing patterns of global wealth and art collecting, the growth of art fairs and online sales and finally the economic impact of the art market. The european fine art foundation tefaf released the 2016 edition of its annual report on the state of the art market on wednesday.
Tefafs annual art market reports have provided invaluable insights into how the market is performing and how it is affected by globalisation and other issues. At tefaf maastricht, the worlds greatest art and antiques fair, you can buy masterpieces of art, antiques and design from 275 of the worlds most prestigious dealers. A global decline detected according to the tefaf art. Clare mcandrew, the report confirms suspicions of a downturn in the international art market.
The financial times and its journalism are subject to a selfregulation. Tefaf drops comprehensive art market report the art. The report is looking at the market from the perspective of both consumer and provider, to provide a better understanding of this highly opaque aspect of the art industry, the report will explore how dealers source capital in an historically illiquid market, examine the solutions and. With the art market growth showing signs of slowing toward the end of 2015 and in early 2016, combined with slower economic growth, increasing volatility in the financial markets, and geopolitical uncertainty, the picture is becoming more complex and unpredictable. Figure 6r number of urban households in china by wealth levels 143. A global decline detected according to the tefaf art market. Artnet is proud to partner with tefaf to present the tefaf art market report 2017. The 10 most important takeaways from the 2016 tefaf art. In addition to the tefaf art market report released during tefaf maastricht, this years special focus provides insight into structural developments across the art ecommerce industry. Table 6g key economic indicators for hong kong 20002015. Analysis 40 percent of world gallery art sales made at fairs and other key findings in the tefaf art market report 2015. Global art sales fell during 2015 with the most significant a decline coming in the chinese market. The most uptodate report attempting to quantify canadas visual arts market is the tefaf art market report pownall 2017.
Tefaf art market report 20 the global art market, with a focus on china and brazil prepared by dr. Art as collateral is risky, dealers say in report released by tefaf and arttactic artbacked lending to galleries is estimated to account for 8% to 10% of the total market in 2017. Global chinese art auction market report 2015 collaborative report produced by artnet and the china association of auctioneers caa over the past 10 years, the chinese art market has seen both tremendous growth and volatility as it grew to majorly impact the global art auction market. Art dealer finance written by anders petterson of arttactic. This was always big news ahead of the fair, and generated significant news coverage.
Institute of renmin university of china, tefaf, as well as larrys list and the world. Reports on art market trends and art investment artnet. Mar 11, 2016 this statistic shows the number of dealer businesses in the art market in 2015, by country. The tefaf art market report 2015 is a wide ranging report that examines the global art market in 2014 in detail, and also looks at individual sectors within the. Mar 12, 2015 the tefaf art market report 2015 is a wide ranging report that examines the global art market in 2014 but also looks at individual sectors within the market, changing patterns of global wealth and art collecting, the growth of art fairs and online sales and finally the economic impact of the art market. The report looks at the key macrolevel trends in the global art and antiques. As every year, i really enjoy to visit the most important art fair in the world, the tefaf located in my old hometown maastricht, the netherlands. Sales figures for 2012 were adjusted on the previous tefaf art market report 20 due to sales in china reported late to amma art. Com tefaf art market report 20 the global art market, with a focus on china and brazil. Global chinese art auction market report 2017 artnet. Tefaf art market report 2017 artwire press release from. Us remains key centre of sales of postwar and contemporary art, while china and us share top spots in the market for modern art. Market share by artistic period in global auction revenue. The sources of data on the global art market are from artprice, arttactic, and tefaf the european fine art foundation.
Tefaf art market report 2018 art dealer finance arttactic. This report presents an analysis of the key trends in the art market in 2010, highlighting its significant recovery in 2010, particularly in china and the us. Clare mcandrew at tefaf on march 11th 2016 analyses the global art market in 2015. The art market continues to be a highly polarised market, with a relatively small number of artists, buyers and sellers accounting for a large share of value. Mcandrew comments on the phenomenon in the reports press release pdf download. Since 2002 tefaf has been involved with providing a program of independent research into the art market. The report was written by professor rachel pownall, who a. Mar 12, 2015 analysis 40 percent of world gallery art sales made at fairs and other key findings in the tefaf art market report 2015. The tefaf art market report 2015 is a wide ranging report that examines the global art market in 2014 but also looks at individual sectors within the market, changing patterns of global wealth and art collecting, the growth of art fairs and online sales and. Find out about the new 2015 tefaf art market report which tracks the global art market over the past 12 months. What does tefaf 2016 art market report tell us about the global art trade.
The tefaf report which is actually titled the international art market in 2011, observations on the art trade over 25 years has additional chapters, which relate the history of the art market since 1975. Her latest report, released during maastrichts european fine art fair, finds that in 20 the overall market for art and antiques sold through dealers and auction houses, had its secondbest. The report is looking at the market from the perspective of both consumer and provider, to. Arttactic is delighted to announce the 5th edition of the hiscox online art trade report 2017. Indicators for brazil 20002015 181 figure 5a estimated total sales in the art market in brazil. The 10 most important takeaways from the 2016 tefaf art market report. As tefaf celebrates 30 years, our annual art market report examines the dynamics that shaped the art world in 2016, and gives insight into trends ahead in 2017.
Tefaf art market report 2015, art economics i amma art market monitor of. Mar 11, 2015 the global art market grew to 51bn in 2014. If its a 10 million vincent van gogh as you see above, a banksy or a 90 crt. During this period, collectors hesitations visavis contemporary art impacted the segments performances. After the london auctions, we went to maastricht for the opening day of tefaf maastricht. Gain a better understanding of the art market with analytics reports. This years tefaf art market report reveals recordbreaking sales of usd53.
This statistic shows the distribution of the global art market in 2015, by country. The revelations come in the tefaf art market report 2015, out this week the us remains the largest single market with a 39% share at 19. With customized reports that cater to your individual needs, delve deeper into current market events and trends such as artist performance, artwork price rankings, and comprehensive analyses of past auction seasons. Asia now has the largest share of the global auction market at 40. In her first year as the author of the tefaf global art market report, rachel pownall singlehandedly sliced off a third of the value of the global art market. Transactions of post war and contemporary art represented the largest share of global art market by value in 2015. Tefaf maastricht, the worlds leading fine art and antiques fair, takes place from the 1019 march at the mecc maastricht exhibition and congress centre, maastricht, the netherlands. Chinas ministry of commerce, the report says, is aiming for a target of 18 percent annual growth from 2011 to 2015. Professor pownall will present the tefaf art market report 2017 at tefaf maastricht during the tefaf symposium on friday 10 march. The closely watched tefaf art market report is widely considered one of the most comprehensive sources of information for worldwide auction sales. Art as collateral is risky, dealers say in report released. Tefaf report shows 7% fall in global art sales as chinese market takes hit. Check out our tefaf maastricht 2018 report here in our art fairs section to read who is at the fair, what they have in their booths and, quite important, at which prices, and what they sold so far with lots of images so that you can get a clear picture of the fair and the art the are showing this year.
Mar 11, 2016 the european fine art foundation tefaf released the 2016 edition of its annual report on the state of the art market on wednesday. Tefaf has launched a supplemental art market report entitled online focus a trend report which looks at the extent to which the art world is embracing digital opportunities and the impact new technology is having on the art market. The art market 2018 presents the results of a comprehensive analysis of the global art and antiques market in 2017. However, certain parts of the market are still growing strong which suggests that. According to the data collected and analyzed, 2016 saw the resurgence of the visual arts economy after a few down years internationally. It is our thirtieth fair in maastricht, an important milestone we hope to celebrate in a fitting way. Tefaf maastricht, distribution of the global art market in 2015, by. Chinese art market, including both mainland china and hong kong, reached a total of 3. Online art market sales up despite slowing global art market. The report will be released on friday but you can download a copy here.
It cannot be guaranteed that the objects currently shown on the website will pass tefaf vetting which takes place shortly prior to the opening of the fair. Please note that the content on the website may be used for press purposes when covering the tefaf art fair. The global art market was dominated by the three major art markets of the us 39%, china 22% and the uk 22%, while by sector, post war and contemporary art continued to lead with 48% of all fine art auction sales with sales of modern art accounting for 28% of the global fine art auction market. This years tefaf art market report reveals recordbreaking sales of. If its a 10 million vincent van gogh as you see below, a original banksy or a 90 crt. These lots together represented 48% of the value of the fine art auction market, but only 0. Tefaf drops comprehensive art market report the art newspaper. There were 180 major art fairs with an international element. This statistic shows the number of dealer businesses in the art market in 2015, by country.
The revelations come in the tefaf art market report 2015, out this week. Tefaf art market report 2015 reveals an alltime high of usd53. Widely regarded as the most comprehensive summary of the art market, the annual tefaf report offers collectors, professionals, and art lovers a global perspective on economic trends in the market. Mar 11, 2015 find out about the new 2015 tefaf art market report which tracks the global art market over the past 12 months.
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