The contemporary art market in a year. Facts and figures

Internet resource artprice.com published his traditional annual report on the situation of the contemporary art market over the last year. Covers the period from July 2012 to June 2013. Here is a brief excerpt from this review

Internet resource artprice.com published his traditional annual report on the situation of the contemporary art market over the last year . Covers the period from July 2012 to June 2013. Were taken into account the results of the auction of artists born after 1945. Here is a brief excerpt from that review .

segment of contemporary art during the period grew by 15%( 140 million euros) compared to the same period of the previous year ( July 2011 - June 2012) and is now responsible for 13%of the global auction revenue. The turnover of the segment for the first time exceeded 1 billion euros ( 1.05 billion euros). And it is not so much due to an increase in the number of lots sold (last year it sold about the same as for the previous one - about 45,000 lots) , as rising prices for works by key artists - Basquiat , Koons , Doig and other leaders of the segment. They work in some cases, have played even better than the product of their older colleagues - modernists. For example , the best result Basquiat last year was higher than that of Claude Monet or Picasso , and the record of " Tulips " by Jeff Koons was solidly most expensive Giacometti last year .

Art Market segment for the year (July 2012 - June 2013 )

segment	market share , %
modernist art	47,6
postwar art	20,6
Contemporary Art	13
Art XIX Ages	9,5
Art Old Masters	9,4

Top 10 contemporary artists of sales in the U.S. (July 2012 - June 2013 )

№ p /n	Artist	Auction circulation , the euro	lots sold	Best hammer price , the euro
1	Jean -Michel Basquiat (1960-1988)	101 687 320	49	33508050
2	Jeff Koons (1955 )	38915011	48	23631000
3	Christopher Wool (1955 )	17320975	28	2713550
4	Mark Grotyan (1968 )	12831991	18	4774620
5	Richard Prince (1949 )	8377700	42	924 120
6	John Karrin (1962 )	7494460	13	1927000
7	Takashi Murakami (1962 )	5601641	69	2909310
8	Anish Kapoor (1954 )	4908905	16	1022190
9	Shtingel Rudolph (1956 )	4423731	14	864 270
10	George Condo (1957 )	3920493	34	866 470

Weather in the global contemporary art market in the past year made primarily of New York. American contemporary art market reached a record total revenue 353.773 million euros - a 56 %increase over the previous year. In addition, 45%of the seven- auction results of the period have been achieved in the U.S. ( 25%more expensive than a million of auction transactions euro sostoyalisv London , 25%- in China and another 5%- in France and all other countries). This success is due to the highest price indices in contemporary American authors . Their work once again break records , while the speculative demand for art of some young Chinese artists on the decline .

Jean-Michel Basquiat
blurred head (Dustheads). 1982
Christie's. 15.05.2013
Estimate: 19,25-26,9 million euros
Result: 33.5 million euros
Source : christies.com

Jeff Koons
Tulips. 1995-2004
Christie's. 14.11.2012
Estimate on request
Result: 23.63 million euros
Source : christies.com

Christopher Wool if . 1992
Phillips. 16.05.2013
Estimate: 2,71-3,48 million euros
Result: 2.71 million euro
Source : phillips.com

MARK GROTYAN Untitled ( Standard Lotus number 11 , Bird of Paradise , a tiger 's face with pasta 44.01)
Christie's. 13.05.2013
Estimate: 1,15-1,92 million euros
Result: 4.77 million euro
Source : christies.com

If you take the top three of the U.S. market - Basquiat , Koons and Voula - their work over the past year have brought 228 million euros, which 21.7 %of the world's contemporary art market has provided the trio . Only one Jean -Michel Basquiat is worth something! Its turnover is nearly 30 %of the total turnover of contemporary art in the United States. Place in the overall ranking of the United States depends on the success of his work in the art market : there would be no work Basquiat , China raised himself into the lead .

Top 10 contemporary artists by turnover in China (July 2012 - June 2013 )

№ p /n	Artist	Auction turnover , EUR	Sold items	Best hammer price , EUR
1	Zeng Fanzhi (1964 )	21 402 925	42	2589600
2	Zhou Chunyang (1955 )	18901910	100	3164200
3	Chen Yifei (1946-2005)	16762725	38	2849000
4	Feyyun Yang (1954 )	11415148	41	1843500
5	Ai Xuan (1947 )	9092908	45	994 200
6	Van Idun (1955 )	8033091	30	1590720
7	Liu Wei (1965 )	7915686	37	1484850
8	Luo Zhongli (1948 )	7878003	53	902 250
9	Zhang Xiaogang (1958 )	7654604	25	1781820
10	Minmin Wang (1952 )	7505548	126	598 080

Chinese contemporary art market is literally on the heels of the U.S. : its annual sales in China reached 353.57 millions of dollars - only 20 million lower than in the U.S.. But the Chinese art market is significantly reduced turnover for the last time : a 7.6 %fall sale of fine art in general and contemporary art sales only fell by 5,9%.

Modern art is better sold in Hong Kong . In this market, more than a dozen years working Christie's and Sotheby's. Ten years ago, they met the Hong Kong site for only 2 %and 0.1 %of their total revenue in the segment of contemporary art , now at Christie's 13 %of transactions are made with contemporary art in Hong Kong , while Sotheby's is even higher - 16%. Here are settling the western gallery, and in March 2013 art fair Art HK for the first time has passed under the brand Art Basel.

Zeng Fanzhi Tiger . 2011
Christie's. 13.05.2013
Estimate: 1,15-1,9 million euros
Result: 3.69 million euro
Source : christies.com

Zhang Xiaogang Tiananmen number 1
Sotheby's. 07.10.2012
Estimate: 1,48-2,47 million euros
Result: 1.78 million euro
Source : sothebys.com

as for mainland China , where contemporary art is soon to be popularized grand museum " M », which in its scope and size of the collection will be akin to the Centre Pompidou , MoMA or the Tate Modern. The exhibition will be at least 2,000 works created after 1950. In addition, the art market of mainland China finally broke through Christie's and Sotheby's. Sotheby's entered into an agreement with the Beijing government's firm Gehua Art Company for the next 10 years. A Christie's September 26, 2013 held its first auction in Shanghai , help out $ 25 million .

Top 15 world capitals of the contemporary art market (July 2012 - June 2013 )

№ p /n	City	annual auction turnover , euro
1	New York	344 475 704
2	London	220 025 081
3	Beijing	203 799 299
4	Hong Kong	97215616
5	Paris	26629695
6	Shanghai	23866241
7	Nanjing	13007577
8	Taipei	9560449
9	Hangzhou	9020604
10	Guangzhou	8894472
11	Istanbul	6781180
12	Doha	6346160
13	Stockholm	5 699 703
14	Singapore	4457750
15	Dubai	4339065

main players on the contemporary art market remain auction houses Christie's and Sotheby's. Together they are responsible for a good half of its global turnover ( 573 million euros). At the same Christie's for the past year (July 2012 - June 2013 ) was a record revenue for this segment : € 355 million (up 45 %over the previous year ) . Christie's share of the global contemporary art market was 33.7 %. Sotheby's position is weaker than 21 %share of the market and an annual turnover of 219 million euros. It should be understood that these results were for the most part to provide sales of products in the top segment. The competition for the top lots is becoming increasingly fierce , to get the rare works on their trades , Christie's and Sotheby's have to install " guaranteed price " purchase (if the item it does not reach , the auction house will pay in addition the missing amount ) ; deliverers may also reduce the commission; was increased commission for the buyer Buyer's Premium.

Top 5 auction houses turnover of contemporary art for the year

№ p /n	Auction House	turnover , EUR
1	Christie's	353 666 369
2	Sotheby's	219 505 544
3	Phillips	90174890
4	Poly International Auction Co	75561291
5	China Guardian Auctions	33567826

to the top segment of the market of contemporary art in the survey were classified Artprice all items have reached a hammer price of more than 500,000 euros . Those for the previous year was only 308. This is only 0.69 %of the total number of items sold per year , but these few hundred works have brought the bulk of income in the segment of contemporary art .

What contemporary works sold more than half a million euros ? About fifteen years ago, were key factors in pricing the prestige of the author and the uniqueness of the work. As a rule, grow and increase in value of the already dead authors : their legacy will not be expanded , many of the museums differ , so, for the remaining in private hands work more and more will be paid. However, in recent years there are other trends: the collectors are willing to buy for tens of millions of authors still alive , to the same product does not exist in a single copy. The most obvious example - serial works by Jeff Koons ' Pink Panther ',' Dogs of balloons "," Tulips ", cast in the amount of 3-5 pieces, set new records in the auction rooms . This perfectly illustrates the same trend rise in the work of world -renowned photographers - Cindy Sherman, Hiroshi Sugimoto , Richard Prince , Jeff Wall and Andreas Gursky . Limited edition pictures of these old photos yet go under the hammer for a seven-figure sum .

Andreas Gursky
Chicago Board of Trade Chamber III. 1999-2009
Sotheby's. 26.06.2013
Estimate: 706-942 thousand euros
Result: 2,178 million euros
Source : sothebys.com

CINDY SHERMAN Untitled#85 . 1981
Christie's. 15.05.2013
Estimate: 462-616 thousand euros
Result: 500,000 euros
Source : christies.com

Admission to top 100 lots of years in a decade rose tenfold in 2002-2003 it cost a little more than 100,000 euros , but now the first hundred lots sold at public auction for the year closes the work of another Chinese artist (if anyone is interested, it Tsinsun name is Xu - Xu Qinsong) of 1,099 million euros. In the first place , and that picture is clearer : in the period from July 2002 to June 2003 the most expensive piece of contemporary art was a marble "Self Portrait" by Jeff Koons for 1.8 million euro over the past year for the " blurred head " by Jean -Michel Basquiat paid 33 5 million euros, ie 18 times more !

Top 10 contemporary artists by turnover in Europe (July 2012 - June 2013 )

№ p /n

Artist

Auction circulation , the euro

lots sold

Best hammer price , the euro

Jean -Michel Basquiat (1960-1988)

60842711

19617490

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