The contemporary art market in a year. Facts and figures
ARTinvestment.RU   25 октября 2013

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 )

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

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 )

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 )

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

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 )