GLOBAL ART MARKET REPORTS
Art market analysts ArtTactic have released a report stating that while confidence in the global art market has dropped, the outlook for high-priced works, those selling for over USD 1 million, has stayed positive, with these works being seen as a “store of value”.
As reported by ArtTactic in an October 2011 newsletter, “Art Market Confidence drops into negative territory, but the high-end of the market remains positive.”
12th October 2011: The recent interim sentiment poll by ArtTactic, suggests that the art market could start to feel the pinch in the next 6 months, as the main Confidence Indicator drops 55% from June 2011. Although the general art market has turned negative towards the 6 month outlook for the contemporary art market, the confidence at the top end of the contemporary art market (works valued at $1 million or above) remains strongly positive. The $500,000 – $1,000,000 price range have seen confidence dropping 35% since June 2011, whilst the mid-range market of $100,000 – $500,000, experienced a 67% drop in confidence.
- Asian art market trends: 5 top posts from 2010 to 2011 – October 2011 – as part of our “Lists” series we focus on the latest trends
- Sotheby’s Ullens Collection: private collection sales stay strong – October 2011 – Art Radar was present in the auction room for the second instalment of this special sale
- Take credit card payments by iPhone: Useful at art fairs? – October 2011 – a start-up that seems set to transform the landscape of the payments industry
- Sotheby’s Hong Kong Autumn Sale 2011: Contemporary Asian Art – October 2011 – revealed lagging enthusiasm in the contemporary Asian art market
- Saffronart Autumn Auction 2011: top 5 lots – September 2011 – over half of all lots reported as sold
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