Major trends of the art market

In the first half of 2010 the global traffic in works of art auction market amounted to 2.9 billion euros. Prior to peak performance years, this figure falls short - in the same period in 2007 were generated by 800 million more - but it significantly exceeds the amount of income for the first half of 2009 (1,7 million euros).

As the market was so quickly "recover"? Two main factors. The first - a return of investors in the upper segment of the art market, the second - the activity of buyers from Asia.

In 2010, the auction items, a considerable number of the highest level, met with great enthusiasm, were recorded Even a nine results (see the sale of "walking man I» and "Naked on the background of the bust and green leaves» ). Today in the United States is easier to sell the work worth 100 thousand dollars and more than a product in the price category up to 10 thousand. " At the end of 2008, when the art market was far from his best form, remained unsold for about 38%of very expensive lots, in 2010 the same number of failed deals with the works of more 100,000 dropped to 27%. If we take only the lots, valued at a million or more, the figure here is even better - "failed" things only 20%.

crisis seems to have bypassed the art market in China, with output first half of this year reached 322 million euros. This is a hundred-odd million more than revenue in the first six months of 2007 (212 million). In the second half of 2009, when British and American markets are still recovering from the fall, China has demonstrated record-breaking results - 384.4 million euros during the six months to two and a half times higher than the auction turnover France and much more income the UK. He gave only the United States, whose trades have brought in 116 million euros more than.

Asian art market is still far from maturity, but you can not deny the fact that the center of world art-business slowly but surely moving to the East. The title of the auction capital of Asia belongs to Hong Kong, which ranked fourth in the world in sales of works of art (after New York, London and Paris). Compared with the first half of 2009 auction of its turnover increased by 158%. For Hong Kong's success is largely responsible at Christie's and Sotheby's, have opened their offices there. Another outpost of the Chinese market - Shanghai, whose revenues for the same period increased by as much as 187%.

material prepared Yulia Maximova, AI

Sources: artprice.com , artinvestment.ru