In the new annual report by research company Artprice said that under the influence of a gloomy economic environment, sales of fine art auction market in the world in 2016, significantly decreased compared to the 2015-м

I recall that the French believe their annual reports only the auction market (without assumptions about the size of the gallery) and art (attributed painting, drawing, sculpture). Jewelry, arts and crafts, books, and other collectibles — all this behind the study is that, of course, not a reproach to him.

• Vasily TSAGOLOV From the series "Office romance-2". 2008-2009
  oil on Canvas. 166,4 × 185,2
  29.06.2009 Bought at Phillips for $53 750
  13.04.2016 Sold to Philips for $ 1 770
  One of the most unsuccessful investments in 2016, according to Artprice
  Source: artinvestment.ru
• Richard SMITH Another place. 1959
  oil on Canvas. 167 × 137
  Purchased in 2006 at Christie's for $ 2 700
  Sold in November 2016 at Sotheby's for $44 000
  the Profitability of the transaction amounted to 1500 % in 10 years. According to Artprice, the transaction was one of the most successful among the investments completed in 2016
  Source: sothebys.com

the Report is large and detailed prepared Artprice together with China's Artron Art Group. About Russia, they not specifically say, so I will give only the main points important for the common understanding of the situation in the world. So:

1. The volume of sales on the global auction art market (including China) in 2016 amounted to $12.45 billion, which is 23% less than in 2015-м.

2. The sales volume of the Chinese auction market rose to $4,79 billion — 38 % of the world market — 1-е place in the world by turnover. America — on 2-м place (28%) and UK — on 3-м place (17 % of the world market).

3. The pieces in 2016 in the Chinese market has sold 91 400 lots, and the Western auction market — 398 000 lots. While China characterized by a high level of the share of unsold lots — more than 60 % (the report says "two-thirds"). Whereas in the West the proportion of unsold lots remained stable in the area of 37 %. From myself I will add that in Russia the share of unsold lots in 2016 amounted to 56 %, that is comparable with China.

4. A world leader in terms of sales in 2016 remained the auction house of Christie's: $3,05 billion turnover and 14 thousand lots sold. Slightly inferior to him Sotheby's: $2.88 billion followed by Chinese Poly International ($989 million), China Guardian ($609 million) and Beijing Council ($552 million).

5. Among the main drivers of growth in the auction market became increasingly important role to play private and public museums. Every year, the world open around 700 new Museum institutions, and in the period 2000-2014 created in the world has more museums than in the previous 200 years.

6. Analysts noted the rapid growth in the value of the Internet as a channel of auction sales. In 2016, 97% of the world's 6 300 auctions could be used, whereas in 2005 only 3 % of the auction houses.

7. The global price index of art calculated by Artprice, at the end of 2016 dropped from about 220 to 150 points. Roughly it is possible to "translate" so that the conditional $220 invested in the arts in 2015, on average in 2016 have turned into $150. You have to understand that this is all very conditional, like the proverbial average temperature in the hospital. But the vector shows generally true: the average price for the year declined. Have exceptional masterpieces — own history, they could grow, but in the mass segment — up to $50,000 — is drawdown.

8. One of the most successful investment deals with art, among the rest in 2016, Artprice callsthe work of Richard Smith's "the Other place" (1959). In 2006 it was bought at Christie's for $2 700, and in November 2016-го resold at Sotheby's for $44 000. The profitability of the transaction amounted to 1500 % in 10 years. This is due in part to the growth of prices after the artist's death in 2016. In just one year auction prices for his stuff jumped in three times on average.

9. Among the most unsuccessful investments in art, the loss of which recorded in 2016, Artprice consider investing in painting by Ukrainian artist Vasiliy Tsagolov from the series "Office romance — 2" (2008-2009). This specific anthem Vice bought at Phillips in 2009 for crazy $54 000, when Ukrainians supported their artists at auctions. Then unsuccessfully attempted to resell in 2015 and finally in 2016-го sold at the same Phillips for $1 700. Loss of hapless investor for 7 years was almost 97 %.

10. To assess the return on investment (ROI) on the art-рынке Artprice analyzes their notional "basket" that includes a 3 900 auction pieces with proven provenance. Now, for the first 11 years, by 2016, the ROI for this basket was 88% or 5.9 % per annum. A rather modest number. Not double-digit. Moreover, 45 % (almost half) works in the conventional basket, showed negative returns. A total plus was achieved due to the fact that the second half compensated for the loss of the first. In this example Artprice again shows collectors how important it is to diversify their collection and not to put all your eggs in one basket.

About the world understandable. And what about us. Russian art market from-за its modest size had long been remarkable with French colleagues. But here we are with a mustache. So, in the beginning of the year ARTinvestment.RU published its own report on the state of the domestic auction market in the segment of fine art — Art Market in Russia. Report 2016 (in English). Russian this information is also, but in the English version of the data already refined. Briefly, the final figures for the Russian market in 2016 has been so:

• the volume of auction sales at local auctions was $7 million (in 2015-м — $4.6 million);
• the average percentage of purchased lots is increased to 44 % (in 2015-м — 35 %);
• the volume of auction sales of Russian art in the world decreased to $282 million (in 2015 — $572.6 million).

We are growing, but from a low initial base. The percentage of departures is slightly higher than in China. But the size of the market — microscopic. In the structure of the global auction market for fine art in Russia accounted for only 0.06% on the money. Frustrating, but not surprising. This is a natural result for the country in which the art-рынку makes it difficult to develop a bunch of administrative barriers and a bad investment climate. Only one curve is the organization of import and export worth. And these sticks we have three pieces in each wheel.

Vladimir Bogdanov, AI

Sources: artprice.com
What else to read on the topic on AI:
"Art Market in Russia. Report, 2016"