A report by TEFAF-2016: gallery art market was less than one-third
ARTinvestment.RU   13 марта 2017

Peace of mind! This is just a result of the change of the calculation methodology. Previous reports compiled annual TEFAF Global Art Market Report have gone to a competitor, is now working at the Art Basel fair

Instead of Claire McAndrew the famous report of TEFAF for the first time prepared a Finance Professor at the University of Maastricht Rachel Pownall (Rachel Pownall). She used a different methodology, resulting in the volume of world art-рынка at the end of 2016 was valued at $45 billion Is almost a third lower than the $63.8 billion, which was measured Claire McAndrew at the end of 2015. Turned out the conversation of a pessimist with an optimist. New economist parried criticisms are simple: if you apply her new technique, by 2015, we will see that in 2016 the market grew. But only 1.7 %. That sounds quite plausible.

After the publication of new figures the experts began to argue why did such a monstrous variation of figures and estimates. @Ndashмоему, the answer is pretty obvious. Today it is possible to calculate only the volume of open auction sales. It's just that did Artprice and makes the Artnet (past data are used to report TEFAF). In this Artprice estimated auction market in 2016 at $12.5 billion, and Artnet to $16.9 billion Even by public auction, the spread is too big. And then — worse. Where to get information about unauctioned transactions? New economist says that what-то information about their private transactions share her auctions. Plus Pownall takes what-то information on the number of market participants from Orbis registry (a directory of companies, where there are 5 500 dealers and galleries). And then what? And then have to resort to mysticism, esoterics and alchemy. Think about it, how can you reliably estimate the turnover of galleries and art-дилеров. The developer of the report, send them requests. Of the 7 000 requests her answer only 350 dealers — 5 %. Its predecessor Andrews answered 14 %, so what? Besides, that is where she meet — is also the question of the power of imagination gallerists and art-дилеров. What to do? In such cases appraisers use "method", which is jokingly called "floor-палец-потолок". At this the reliability of the sources of variation in $ 20 billion — is still at-божески.

no Doubt, the work is done is huge. But then a natural question arises: why is it even necessary? Why measure something that cannot be measured? And who benefited from the fact that the sales of the art-рынка is estimated at 45 billion or 64? They'll look-то if tomorrow the third expert will assess the market of 100 billion? We on this? In the pockets will be added? And why TEFAF?

the Most probable explanation I can find, @TEFAF mdas need it for marketing purposes. Customers fair need as-то to create a good mood. Keep them positive and encourage active buying. And for that they need to hear that the market is growing, it is better if strongly growing. The head should sit with the idea that it is impossible to postpone the purchase for later, because tomorrow it will be more expensive. Therefore, the reports prepared by reputable economists — critical part of the overall marketing campaign. People need to feel that this is not idle speculation journalists, and credible research. Else — nuances.Most readers of these reports, I think, nothing to do with specific numbers. Most importantly, they are pleased to hear that the market is growing in principle. And whether you climb them with his truth and new techniques?

Vladimir Bogdanov, AI

Source: artsy.net, artinvestment.ru