Fair Art Basel
Source: theartnewspaper.com


In Fair Art Basel Miami
Source: artinfo.com

traditional model of trade in works of art through the gallery is in decline - according to a new report by the International Confederation of Associations of art dealers CINOA (Confédération Internationale des Négociants en Oeuvres d'Art). In a study by a leading specialist company MakEndryus Clare Arts Economics, said that the global art market continues to grow, but globalization and has its major impact on market structure. Last year, collectors have spent considerable sums on art and art dealers, meanwhile, have faced significant changes in the sales process.

According to the results of the economic analysis of the market, selling at art fairs and Online auctions gradually take over the baton from the galleries and become the most profitable ways to trade in works of art. Professionals state: fewer and fewer people coming into the gallery to buy art, as the global art market is becoming more international and spirit of the times much better fit is an art fairs and selling through the Internet.

" Naturally, we conclude deals more fairs than in the gallery itself, "- says Dominique Levy (Dominique Lévy), director of the New York gallery L & M.

Andras Chant ( András Szántó), expert and contributing editor The Art Newspaper, says: "Fair successfully used the structural weakness of the art gallery system, which is poorly developed, and focuses exclusively on local markets." With the weakening of these markets during a recession, "most of the income has come from customers who do not live near your office: all the great deals is at the fairs" - echoes dealer David Tsvirner (David Zwirner).

According to a study conducted by Capgemini, the Asia-Pacific region in recent years has overtaken the West in the number of millionaires. Consequently, far from accidental that the Hong Kong art fair, Art HK, a 60%stake acquired in May, which the owners of Art Basel, this year attracted a whole constellation of eminent Western dealers.

Offensive fairs creates many difficulties for art dealers, among them come to the fore the costs of travel and transportation, payment of additional staff and support necessary for participation in trade fairs in the number of works. Will the traditional gallery model such changes to be seen. Although, for example, the Berlin dealer Matthias Arndt (Matthias Arndt) is already certain: "It is much easier and more interesting to work in a nontraditional format, with office and exhibition area, where you can organize temporary projects." Arndt and goes: Earlier this year he announced that henceforth his gallery will be open only periodically at the time of new exhibits.

«We are experiencing a global systemic shift - commented Andras Chant. - Expanding the scope of the auction houses and galleries, making the system fair, it was in the twentieth century, non-competitive. " A small number of galleries such as Gagosian, Hauser & Wirth, David Zwirner, «an exception to this rule, but what about ordinary galleries?" - Asks Chant.

According to data presented MakEndryus, art dealers and auction houses divided in 2010 the art market equally. The total number of dealers in the world is about 375 thousand, but the study showed that the share of 2-5 per cent of the largest of them accounts for half of total turnover of the gallery business. Another group, from about 7.5 to 20 thousand dealers in the amount earned in the year, nearly ten billion dollars, which is a closer look at least a million dollars each. The rest - the largest group of galleries - brings to its owners at least $ 30 000 annual income.

Dominique Levy, however, is set fairly optimistic about the future of the gallery business. "Increasing the number of fairs is simply pointless. In the end, they strangle each other "- she said. In her opinion, old-fashioned benefits of galleries - this is precisely the key to their survival. "The secret is to inform new customers about all the services - and the galleries often offer special service: the delivery of works, hanging them, they provide advice on the exhibition, insurance, and even replace the frames. Collectors sooner or later will appreciate these benefits. True, rather late than early "- adds Levy.

actively promoted now online auctions, such as art fair VIP , Art.sy (funded by Dasha Zhukova and Wendy Murdock (Wendi Murdoch)) , Paddle8. "Online auctions - this place is the realization of relatively cheap work ... no one is going to invest large sums in the work, which is not seen with my own eyes" - told a New York judge Christophe Van de Vega (Christophe Van de Weghe). "Comfortable price for online bidding is around $ 100 000" - agrees with Van de Vega Alexander Gilkes (Alexander Gilkes), one of the cofounders of the resource Paddle8.

Interesting facts Mc Andrews leads on the post-crisis recovery of the art market in 2010. The report concludes that it was only possible as a result of sales of products superexpensive supplied by the major dealers on the auction main auction houses. Market growth in 2010 compared with the previous year was 52 percent. However, if you look, it appears that the actual number of transactions rose by only 13 percent, that is, revenue has risen not because of the number of sold works and because of the enormous prices for some products.

In general, globalization is slowly but surely changing the balance of power in the market. According to the results of 2010, first in the ranking of global sales of art objects occupy the U.S. (34%), moved to second place China (23%), pushing the UK to third place (22%). France is thus shifted to the fourth position (6%market share). By the way, Claire MakEndryus believes that the law on the right route, which in 2012 will come into force in all EU countries, including Britain , could undermine the position of Albion as a leader art market. The report argues that under the new conditions will be much more profitable to sell works of art worth more than 40 000 euros in trading in New York, where the semblance of European law on the right route operates only in California (about how to relate to the law on the right route to United States, read here ).

Prepared by Mary Estrova, AI

Source: artinvestment.ru