Mar 12, 2014 tefaf art market report says 20 best year on record since 2007, with market outlook bullish the 10 conclusions from this years tefaf art market report you need to know alexander forbes, march. That is a smaller increase than the 10% yearoveryear growth that was recorded from 20 to 2014, but amid a landscape in which sales in every other major market center declined, the u. Tefaf report finds 60% of dealers profit from online sales. In 20 sales in the art market in the us by dealers and auction houses reached a total of 18. In march 20 tefaf announced that it was exploring the possibilities. 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 in the fine and. According to economist clare mcandrew, who conducted the study, the 46. For the sake of consistency, values in that report have been converted into dollars for the purposes of this report.
In 2000, for the first time tefaf launched an independent study about the size and structure of the european art and antiques market, resulting in the annual publication of the art market report. Wong meng meng chairman energy market company in many aspects, 20 was a significant year for the electricity industry in singapore. Since 2002 tefaf has been involved with providing a program of independent research into the art market. Clare mcandrew, the report confirms suspicions of a downturn in the international art market. Produced using the bidding results from 4,500 auction houses, the 20 annual report consists of macroeconomic and microeconomic analyses updated according to new sales and variations in the price. 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. Art dealer finance written by anders petterson of arttactic. Global art sales in 2014 break all known records helvoirt, 9 march 2015. Art fund association global art market update, september 20. Tefaf art market report 2017 artwire press release from. The tefaf art market report 2015 is a wide ranging report that. The 2014 tefaf art market report by dr clare mcandrew had a special focus on the united states and on china.
The closely watched tefaf art market report is widely considered one of the most comprehensive sources of information for worldwide auction sales. Mar 11, 2019 modern art dominates the highend market with 8 of the top10 results 159 european artists ranked in the top 500, versus 153 asian and 93 north american abstract art reached new heights with. Artnet is proud to partner with tefaf to present the tefaf art market report 2017. We will continue, i believe, to see strong growth in the art market for 20 due to a massive shortage of supply in comparison with an increased demand for highquality work. Tefaf drops comprehensive art market report the art. 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. Online focus, released thursday, highlight the tension between the promise of reaching a vast global customer base and the challenge of maintaining the relationshipdriven sales approach that has dominated the art market for centuries. This trend is in part driven by the scarcity of good impressionist and modern artworks. Renneboog and spaenjers 20 report 220 fallen from fashions artists who were included in the 1926, 1959 and 1 980 edi tion of gardners art through the ages. A new report from the european fine art foundation tefaf, released in conjunction with the current tefaf maastricht art fair, mar.
Lecture by clare mcandrew, the global art market in 20. It took over 10 years for the market to really recover from the japanese boom and bust that the market went through in the early 1990s. This reduction was mostly driven by a heavy slowdown. The role of nationality and territory in a supposedly globalized sector, in contemporary art and its commercial markets. Slowing economic growth and continuing uncertainty in the global economy filtered down to the art market in 2012 with global sales contracting by 7% to 43. Confidence in the auction market levels out as primary art market confidence increases by 37%. Please note that the content on the website may be used for press purposes when covering the tefaf art fair. 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. Pownall, who holds the tefaf chair in art markets at the school of business economics at maastricht.
The us is the leading market place for sales of the highest priced art and antiques in the world. The 10 most important takeaways from the 2016 tefaf art market report, artnet news mar. Whilst the online art market has been riding on the back of an overall art market boom since the financial crisis in 2009, global economic and political uncertainty is expected to. 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. A report on current conditions and future scenarios, ed. Jun 29, 2017 the findings of the tefaf art market report. Velthuis, sternberg presstensta konsthall, berlinspanga. The 10day fair attracts about 75,000 visitors and is considered one of the worlds leading art fairs. Us private investment in art and culture increased by 33% over the last 5 years between 20 and 2018 and uks private investment in the arts saw an increase of 11% in individual giving and 10% increase in business investment in the arts between 2016 and 2018. 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 enter overall the art market flourished in 2016, shifting but not shrinking despite a fall in auction sales in the u. Modern art dominates the highend market with 8 of the top10 results 159 european artists ranked in the top 500, versus 153 asian and 93 north american.
For years, the fair was considered a footnote in the annual art market calendar, according to the wall street journal. According to the report, released in march 20, the total size of the global art market, which includes both public auction data and private art dealer sales, is set at about 43 billion, a decrease of 7 % from the 2011 level, with the best performance continuing to be at the top end. 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. Tefaf art market report 2018 art dealer finance arttactic. Max mara award in 2011 followed by an exhibition at the whitechapel gallery, before winning the famous turner prize in 20. The 10 most important takeaways from the 2016 tefaf art. Although the dealer market for online sales of art and antiques is currently small, the growth stated by dealers in the tefaf art market report 2017, released in march 2017 during tefaf maastricht, is high at 18. Online art market sales up despite slowing global art market. Artprice publishes this exclusive report on the art market in six languages. Tefaf art market report says 20 best year on record since 2007, with market outlook bullish the 10 conclusions from this years tefaf art market report you need to know alexander forbes, march. This year for the first time, the tefaf art market report has been prepared by professor rachel a. Whilst the traditional auction houses were slow in adapting to.
Sales in the global post war and contemporary sector arts economics 20 the modern art segment didnt have such a. Tefaf art market report says 20 best year on record since 2007, with market outlook bullish the 10 conclusions from this years tefaf art market report you. The total value of the international art and antiques market hit 47. You can see the auction houses moving into this space and see intermediaries moving into the dealer space, but for the highend dealers there was no movement at all, so why is this the case. Tefaf art market report 20 the global art market, with a focus on china and brazil prepared by dr. Tefaf art market report 20 this report presents an analysis of the key trends in the global art market in 2012, focusing on two contrasting emerging markets for art, china and brazil. The overall picture of the art market in 2016 is of a sturdy, resilient market that is thriving despite global economic and political uncertainty, according to the tefaf art market report 2017. This report presents an analysis of the key trends in the art market from its peak in 2007 to one of its lowest points in the decade in 2009. This years tefaf art market report shows that in 2014 the global art market reached its highest everrecorded level, a total of just over 51 billion worldwide, a 7% yearonyear increase taking it above the 2007 prerecession level of 48 billion. The overall arttactic us and european contemporary art market confidence indicator came in at 70. Tefaf is an annual art, antiques and design fair, organized by the european fine art foundation in the mecc in maastricht, netherlands.
Prepared by dr clare mcandrew founder of arts economics. Overall, the national electricity market of singapore nems performed within the expectations of an effective competitive market and demonstrated the real benefits. Number and wealth of dollar millionaires 20102022 287 7. 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 products that are currently available and new innovations. Mar 12, 2015 global art sales in 2014 break all known records helvoirt, 9 march 2015. The report showed that the global art and antiques market is almost back to the extraordinary heights of the prerecession boom years. Last year johnny van haeften decided to step down from the ec to. 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. This reduction was mostly driven by a heavy slowdown in the chinese market, with sales falling 24% to eur 10. Com tefaf art market report 20 the global art market, with a focus on china and brazil. Published since 2000, the tefaf art market report promised a global assessment of economic trends in the market and billed itself as the most comprehensive summary of its kind. Tefaf drops comprehensive art market report the art newspaper.
Looking at decorative art and the private market in addition to fine art and the auction market, total sales for 2012 were, according to tefaf art market report, eur 43 billion, a decrease of 7% compared to 2011. In 2008, total sales in the global market for fine and decorative art reached just over 42. Art fund association global art market update, september. An extraordinary parcelgilt ostrich ewer by marx weinold with its basin by johann mittnacht i, augsburg, c. Since launching the initiative in 2011, we have seen the global art market ebb and flow. It is quoted by 6,300 international institutions and media each year. Quemin, a 2012, the internationalization of the contemporary art world and market.1217 1085 544 1409 1637 431 576 1038 1113 1261 1041 943 1590 1101 1576 144 190 1594 1520 1660 1366 185 330 880 467 28 1325 1654 1475 353 701 170 1317 952 445 47 1105 917 22