Art as collateral is risky, dealers say in report released by tefaf and arttactic art backed lending to galleries is estimated to account for 8% to 10% of the total market in 2017. Mar 11, 2015 find out about the new 2015 tefaf art market report which tracks the global art market over the past 12 months. The global art market was dominated by the three major art markets of the us 39%, china 22% and the uk 22%, while by sector, post war and contemporary art continued to lead with 48% of all fine art auction sales with sales of modern art accounting for 28% of the global fine art auction market. Tefafs annual art market reports have provided invaluable insights into how the market is performing and how it is affected by globalisation and other issues. Instructions for form 1040 internal revenue service. Mar 02, 2010 art economics released its report on the global art market during the recession. This report presents an analysis of the key trends in the art market in 2010, highlighting its significant recovery in 2010, particularly in china and the us.
Mar 10, 2016 global art sales fell in 2015, but what about returns. Widely regarded as the most comprehensive summary of the art market, the annual tefaf report offers collectors. This 7% rise means the market as a whole has roughly doubled in value over the past ten years. Widely regarded as the most comprehensive summary of the art market, the annual tefaf report offers collectors, professionals, and art lovers a global perspective on economic trends in the market. Approached last summer by the tefaf art fair to take on its annual art market.
In addition to organizing its fairs the foundation commissions and. Tefaf maastricht, distribution of the global art market in 2015, by. It is our thirtieth fair in maastricht, an important milestone we hope to celebrate in a fitting way. Transactions of post war and contemporary art represented the largest share of global art market by value in 2015. Artnet is proud to partner with tefaf to present the tefaf art market report 2017. It includes data on the growth of the art market through its peak in 2007 and into 2009. If its a 10 million vincent van gogh as you see below, a original banksy or a 90 crt. Commissioned by the european fine art foundation, organisers of the european fine art fair tefaf, the report is researched, compiled and written by dr clare mcandrew, a cultural economist specialising in the fine and. Clare mcandrew, founder of arts economics, discusses art basel in hong kong, her report on the global art market in 2017 and her outlook for the industry. Mar 16, 2015 the big tefaf 2015 sales report we have the numbers on what sold. The artprice contemporary art market annual report 20152016 is freely.
Tefaf report shows 7% fall in global art sales as chinese market takes hit. Mar 22, 2017 clare mcandrew, founder of arts economics, discusses art basel in hong kong, her report on the global art market in 2017 and her outlook for the industry. The tefaf report which is actually titled the international art market in 2011. Tefaf2015 in 2014 the global art market reached its highest everrecorded level, a total of just over 51 billion.
Chinese art market, including both mainland china and hong kong, reached a total of 3. Key findings of the tefaf art market report 2016 luxembourg. The tefaf report which is actually titled the international art market in 2011, observations on the art trade over 25 years has additional chapters, which relate the history of the art market since 1975. If its a 10 million vincent van gogh as you see above, a banksy or a 90 crt. After two years of declining sales, the global market rose 52% to reach a total of 43 billion. Night fishing and world art market passes 51 billion says 2015 tefaf art market report. The big tefaf 2015 sales report we have the numbers on what sold. Key findings of tefaf art market report 2015 artnet news. Tefaf report shows 7% fall in global art sales as chinese. The report will be released on friday but you can download a copy here. The reports new author uses a different methodology. Art market trends 2008 from peak to trough after 7 consecutive years of rising prices, the art market experienced a radical trend change in 2008 with the spread of the subprime crisis to international fi. This statistic shows the distribution of the global art market in 2015, by country. Approached last summer by the tefaf art fair to take on its annual art market report.
The us was the key centre worldwide for sales of post war and contemporary art with a share of 46% of the market by value. Analysis 40 percent of world gallery art sales made at fairs and other key findings in the tefaf art market report 2015. Equitable resale royalties uknowledge university of kentucky. At this years fair tefaf will also dip tie in silk twill etriviere attache case. Asia now has the largest share of the global auction market at 40. There were 180 major art fairs with an international element. If you know of one of these broad issues, please report it to us at. Art economics released its report on the global art market during the recession. Tefaf drops comprehensive art market report the art. The blue line in the graph represents the overall volume of transactions in the art market from 2002 in millions. Clare mcandrew, the report confirms suspicions of a downturn in the international art market. Com tefaf art market report 20 the global art market, with a focus on china and brazil. Clare mcandrew at tefaf on march 11th 2016 analyses the global art market in 2015. In her first year as the author of the tefaf global art market report, rachel pownall singlehandedly sliced off a third of the value of the global art market.
Tefaf the european fine art foundation is a nonprofit organization led by a committee of leading dealers from around the world. As tefaf celebrates 30 years, our annual art market report examines the dynamics that shaped the art world in 2016, and gives insight into trends ahead in 2017. Her report is based on a survey of auction houses, art dealers and collectors, as well as information gathered from different art and finance databases. Says art market is in period of consolidation bloomberg meet paddle8s alexander gilkes, art auction disruptor observer. Since it was established by congress in 1965, the nea. The global art market, with a focus on the us and china.
Mar 11, 2015 the global art market grew to 51bn in 2014. Table 6g key economic indicators for hong kong 20002015. Tefaf report showed a 7% fall in global art sales in 2015. Seeking a fountain of youth for old masters the new york. Tefaf art market report 20 the global art market, with a focus on china and brazil prepared by dr.
Please note that the content on the website may be used for press purposes when covering the tefaf art fair. Us remains key centre of sales of postwar and contemporary art, while china and us share top spots in the market for modern art. Clare mcandrew has presented the tefaf art market report annually since 2008. It is my pleasure to submit the annual report of the national endowment for the arts for fiscal year 2015. Find out about the new 2015 tefaf art market report which tracks the global art market over the past 12 months. The 10 most important takeaways from the 2016 tefaf art market report. The european fine art foundation tefaf released the 2016 edition of its annual report on the state of the art market on wednesday. The closely watched tefaf art market report is widely considered one of the most comprehensive sources of information for worldwide auction sales. Com tefaf art market report 20 the global art market, with a. The hiscox online art trade report 2016 bringing transparency. The global art market was dominated by the three major art markets of the us 39%, china 22% and the uk 22%, while by sector, post war and contemporary art continued to lead with 48% of all fine art.
Since it was established by congress in 1965, the nea has awarded more than. The economist rachel pownall is having a busy year. Tefaf drops comprehensive art market report the art newspaper. Whilst the traditional auction houses were slow in adapting to. Tefaf art market report 2015 reveals an alltime high of usd53. Tefafs annual report reassesses the value of the art market. Chinas ministry of commerce, the report says, is aiming for a target of 18 percent annual growth from 2011 to 2015. Global art sales fell during 2015 with the most significant a decline coming in the chinese market. Where to report certain items from 2015 forms w2, 1097, 1098, and 1099.
The revelations come in the tefaf art market report 2015, out this week. Mar 11, 2016 the european fine art foundation tefaf released the 2016 edition of its annual report on the state of the art market on wednesday. Global art sales fell in 2015, but what about returns. Registration for tefaf maastricht is closed at the moment. Art as collateral is risky, dealers say in report released.
Online art market sales up despite slowing global art market. Featuring over 275 prestigious dealers from 20 countries, tefaf maastricht is a showcase for the finest art works currently on the market. This years tefaf art market report reveals recordbreaking sales of usd53. Tefaf maastricht is widely regarded as the worlds premier fair for fine art, antiques and design. As tefaf celebrates 30 years, our annual art market report examines the dynamics that shaped the art world in 2016, and gives insight into trends ahead in. Seeking a fountain of youth for old masters the new york times.
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