Our econometric department of the art market offers spot-on indicators to bring you clear information and help you in your decisions.
Two years after the health crisis triggered a profound evolution of the art market that included an opening to NFTs and the Metaverse, Artprice and its exclusive partner Artron are glad to present their free analysis of the 2021 global art market and its underlying changes.
The market data shows a spectacular 60% increase in auction turnover versus 2020, despite the continuation of the pandemic. The migration of the art market into the virtual sphere of the Internet is now a reality on all 5 continents, almost relegating the need for physical auction rooms to history.
“As the 21st century unfolds into a new era of enlightenment, the art world will be reshaped around virtual creation and a virtual (but very real) economy, allowing the emergence of a genuinely boundless space for artists to express themselves. Even in the virtual world of the Metaverse, singularity will remain one of the most prized qualities”… thierry Erhmann, Founder of Artprice & President of Artmarket.com
Available for free, in three languages, online as well as in PDF version : English – French – Chinese
Read our 23rd Annual Report on the Global Art Market: The Art Market in 2021
And much more to read: China’s lead over the United States; Soft Power; the impact of the health crisis on the operational structure of auction houses and the quality of their transactions; how the UK art market is affected by Brexit; artists breaking new records at ever-younger ages; what the NFT market really represents and how is it re-configuring the auction landscape; the top-performing artists of the year and the most popular; etc...
In fact, the 2020/21 period marks the Contemporary segment's best year in auction history, both in terms of lots sold and in terms of global auction turnover, and it saw the Contemporary art segment move into a new space vis-à-vis the rest of the art market.
Part of this movement was driven by the sensational arrival of NFTs and the staggering prices obtained for works by very young artists, both of which appear to have profoundly transformed the art market's overall landscape. The NFTs very likely mark a substantial acceleration of the Hegelian power struggle that will release artists from their condition of slavery and make them masters of their own markets… and reconfigure the entire global art market in the process.
Artprice is proud to present this latest exclusive report focusing on the latest evolutions in a Contemporary Art Market that is seeing buying and selling habits transformed, the very notion of “collecting” being fundamentally shaken by NFTs, and Art history itself somewhat fitfully evolving towards greater inclusion and diversity… These changes are as radical as they are unavoidable!
According to thierry Ehrmann, CEO of Artmarket.com and Founder of Artprice: Sales strategies offering a large number of works at relatively affordable prices and growing demand from multi-generational collectors allowed the Contemporary art segment to resist the negative impacts of the health crisis a lot better than any other segment.
The Contemporary art segment (artists born after 1945) posted a historic auction turnover performance in H1 2021, up 50% versus H1 2019 (and five times the total hammered in H1 2020, impacted by the early days of the covid pandemic).
Asia ... the market pivots towards the East
After an extremely difficult 2020, China, Hong Kong and Taiwan posted exceptional performances in H1 2021) taking their total turnover from sales of Contemporary art for the 2020/21 period to USD 1 billion, i.e. 40% of the segment's global turnover.
This Report represents an essential tool as we head into the major autumn art fairs (notably the Frieze and the Fiac) and is now available at the following address:https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021
The Art Market has adopted a new economic model and reached a new equilibrium that the most optimistic projections were not expecting to see before 2025. It is now much better equipped to work with contemporary ways of living and collecting, i.e. those of the 21st century.
In sum, despite a global tragedy that is unique in social and modern economic history, the Art Market has rebounded via digital technology, which it has massively adopted within a record time and which has allowed the market's turnover contraction to be limited to just -21%, which in itself – given the circumstances – is a superb performance.
“Artprice is proud to present this exclusive report which traces the evolution of the Contemporary Art Market over 20 years”, announces thierry Ehrmann, President and Founder of ArtMarket.com and its Artprice department. “The story it tells reflects a multitude of sociological, geopolitical and historical factors, all of which contributed to the rapid rise of Contemporary Art in the global Art Market. A marginal segment until the end of the 1990s, Contemporary Art now accounts for 15% of global Fine Art auction turnover, and is now its primary growth driver, having increased +2,100% over 20 years. As a result of the Covid-19 pandemic in 2020, the Art Market switched almost entirely to the Internet. 2021 will no doubt see an extension of this trend”.
In short, the Contemporary Art Market has been through a very long and very profound transformation over twenty years, which Artprice has followed. We have witnessed its exponential rise until 2008 – until Damien Hirst’s insolent sale just after the bankruptcy of Lehman Brothers at Sotheby’s – and the subsequent ‘arrival’ of the Chinese Art Market with its peak in 2014. Clearly, the health crisis that began in March 2020 has once again broken the market’s rhythm, but there are few markets that resist rhythm breaks quite like the Art Market.
So we seem to have reached a perfect spot for a pause and for serious analysis of the metamorphoses of the Contemporary Art Market – the segment of the Market which harbours the biggest risks and opportunities – before it fully resumes its undoubtedly unexpected activities.
And don't miss, exclusive to this year's report, the TOP 1,000 contemporary artists at auction (2000-2019)
Read our report, 20 years of Contemporary Art auction history:
The Contemporary Art Market report 2000-2020
thierry Ehrmann, Artprice founder and CEO of ArtMarket.com: “The Art Market’s growth is based on confidence”
This report contains the famous Artprice ranking of the Top 500 best-selling artists on the global fine art auction market and the Top 100 auction results. It also contains an analysis of the global Art Market from a geographical perspective (by country and by major city), a breakdown by historical periods and by artistic media, a selection of crucial Artprice market indices and 8 key chapters providing an uncompromising analysis of today's global Art Market. No other entity is currently capable of generating such high quality macro- and micro-economic metadata based on proprietary Big Data and AI algorithms.
Read our 22nd Annual Report on the Global Art Market at:
In commercial terms, the trade in Contemporary artworks is today a veritable market within a market. Our 21st Contemporary Art Market Report focuses on the over 70,000 Contemporary works now bought and sold annually at auctions around the world. This is almost the same number as for the entire Art Market in the early 1990s.
The Contemporary Art segment may be the market’s most volatile segment, but it is not ‘speculative’ in the negative sense of the word. Most Contemporary artists are alive today, so the segment naturally generates the highest returns on investment because the value of the works is itself being created, little by little, as the artists’ productions expands and each artist finds his or her place in Art History.
Artprice by Art Market's Contemporary Art Market Report – an indispensable tool for participants and attendants at the major autumn art fairs (Frieze and Fiac in particular) – is available free of charge at the following address:
*Public sales of Fine Art (paintings, sculptures, drawings, photographs, prints, installations). **In collaboration with Art Market Monitor of Artron (AMMA).
“We are seeing a tightening of the balance between supply and demand in the Art Market,” explains thierry Ehrmann, Artprice’s Founder/CEO.
“The results show persistent demand for museum-quality works, but the secondary market’s supply has tightened somewhat. The Art Market – as we have known it since 1975 – appears to be reaching its structural limits: auction houses are struggling to maintain their operating margins and also to convince collectors to sell their best pieces. They are constantly increasing their buyer fees while simultaneously inventing new ways of reassuring sellers. Guarantees can encourage some sales, but this mechanism doesn’t represent a global solution. It’s time for the Art Market to start a new digital era”.
The recent acquisition of Sotheby’s and Artprice.com’s metamorphosis into Artmarket.com (its new company name submitted to the Extraordinary General Meeting) are two changes that clearly reflect the Art Market’s entry into the age of the Internet.
Now available online at:
Eight artists changes in our Artprice100® index between fiscal year 2017 and 2018 In 2000, only 1 Chinese artist (Zhang Daqian) qualified for inclusion in our Artprice100® index compared with 16 in 2017
In a world where many Western countries now post quarterly economic growth rates well below 1%, the Art Market has once again confirmed its efficiency, liquidity and transparency… just like a financial market.
In 2018, 26.2% of our Top 500 global artists are Chinese, illustrating the power of China vis-à-vis the United States which only account for 17.4% of the Top 500 artists.
The report includes Artprice’s now famous ranking of the world’s 500 most powerful artists, the Top-100 auction results of the year, information regarding our Artprice100® index now used in trading rooms, analyses by country and by capital, analyses by creative periods and by artistic media... and a selection of Artprice market indices, and even more: Soft Power, Trends, Financial returns, etc...
Read our 21st Annual Report on the Global Art Market at:
*Fine Art at Public Auction: painting, sculpture, drawing, photography, prints, installation
**In collaboration with the Art Market Monitor of Artron (AMMA)
The chapters explore the hottest topics in the global market and provide answers to questions that any art lover, collector, professional or curator who is active in the Contemporary Art Market might have...
Stimulated by a sensational record of $110.5 million in May 2017, the Contemporary art Market has just ended a third consecutive semester of growth. The principal drivers of this growth are ever-stronger demand for works by the stars of Contemporary art and a proliferation of supply in a particularly favorable economic context.
Now available, the new 2018 Artprice Contemporary Art Market Report provides decision support tools that analyse the evolution, the organization and the latest trends in the Contemporary Art Market:
*Fine Art Public Auction: painting, sculpture, drawing, photography, prints, installation
**In collaboration with the Art Market Monitor of Artron (AMMA)
Global Fine Art auction turnover amounted to $ 8.45 billion in H1 2018, an increase of 18% versus the year earlier period. The Art Market is therefore pursuing the renewed growth which started in H1 2017 (+9%) and was confirmed in H2 2017 (+32%).
Now available online at:
2017 marks a return to worldwide growth for the art market. After two consecutive years of contraction (-10% in 2015 and -23% in 2016), global art auction turnover increased by +20%, equivalent to a spectacular turnaround of +40% (absorption of the contraction plus additional growth). This performance is all the more significant as it was generated by a combined recovery of both the Western and the Chinese markets, with each market generating a new historical auction result as well.
The year 2017 will remain a decisive year for two reasons.
On the one hand, because a new price range (unthinkable just a few months ago) has been reached, with the huge gap between the previous all-time art auction record and the new one (between $180 million and $450 million) bound to be filled incrementally by upcoming sales of museum quality works.
On the other hand, because for the first time since the eclosion of the Chinese market (2008), the major powers of the Art Market have together demonstrated all the signs of firm and durable growth. And lastly because 2017 has proved beyond any doubt the validity of the model developed (and IPR protected) by Artprice which details and forecasts all of the economic, financial and sociological phenomena inherent to “the Museum Industry” ®.
The “Quality over Quantity” strategy of Chinese Art Auction Market has paid off
Ranking of the Top 500 artists by auction turnover
European artists accounted for nearly half of the world’s Top 500 artists last year, ahead of Asia (162) and North America (82). The ranking also contained 12 Latin American artists, 6 Africans and 6 from Oceania. Although still modestly represented in the Top 500, these latter regions are indeed becoming increasingly important on the global Art Market as a whole.
Much more to discover in:
The complete Art Market in 2017 (Annual Report by Artprice.com) available online:
The historic record of $110.5 million for a Contemporary work illustrates the segment’s extraordinary financial potential. The rise of this segment, the Art Market’s primary growth driver, is fuelled by a virtuous circle that makes Contemporary Art an omnipresent dimension of our cultural landscape.
The Artprice Contemporary Art Market Report 2017 is now available: https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2017
H1 2017 saw a general recovery of the Art Market, with turnover up 5%
At a global level, the Art Market was in better shape in H1 2017, ending two consecutive years of slowdown.
More than 228,700 Fine Art lots sold worldwide during the first six months of 2017, generating a total turnover of $6.9 billion (including fees). These results were recorded at more than 3,054 public sales that are subjected to Artprice's systematic and detailed analysis. Artprice has been global leader in Art Market information since 1987. This half-year report covers all public sales of Fine Art (painting, sculpture, drawing, photography, printmaking, installations).
is available online at:
Throughout 2016, auction operators have demonstrated their capacity to stimulate demand despite a climate of uncertainty. China has managed to stabilise its auction turnover, while the West saw its highest level of transactions ever recorded (398,000 lots sold). In both the East and the West, a focus on consolidating the core of the market took priority over the race towards new auction records.
This market configuration owed much to an intensification of competition between the market’s different players that has, in turn, led to a more stable and solid market environment. In 2014, Sotheby’s yielded to pressure from its shareholders, including hedge-fund manager Daniel Loeb. After 34 years of loyal service (including 14 as CEO), William Ruprecht handed the reins to businessman Tad Smith. At Christie’s, a series of CEOs from major industrial groups have attempted to make the organisation ever more efficient: Steven Murphy in 2010, Patricia Barbizet in 2014, Guillaume Cerutti in 2016. An acceleration of personnel changes in key positions also reflected the tougher competitive environment, initially at the auction houses, and then later throughout the Art market as a whole. In December, Brett Govry defected as head of Postwar and Contemporary art at Christie’s to join the Galérie Dominique Lévy.
Today, the Art Market’s dependence on the financial sector is palpable at nearly every level. Recall that major banks (UBS, Deutsche Bank, JP Morgan, etc.) have become powerful partners in major artistic events (art fairs, biennials, exhibitions, awards, etc.) that substantially influence the success and prices of artists. Meanwhile a number of major multinational corporations are actively enhancing their public images by partnering with artistic causes, or by building their own exhibition centres, like the Louis Vuitton Foundation in Paris.
The upper echelons of the Art world are nowadays intimately connected with industrial and financial power whose requirements have given the market a new level of efficiency. The result is that every item in the major players’ cost & income statements is being carefully scrutinised. During his first year at the head of Sotheby’s, the new CEO Tad Smith imposed a vigorous voluntary departure plan. The firm has also adjusted its buyer’s premiums twice over the last two years and we are seeing a multiplication of the incentives used to convince buyers and sellers of artworks: guarantees, online auctions, etc...
Ranking of the Top 500 artists by auction turnover
In 2016 the ranking saw a lot of movement. It is now essentially composed of 41% European artists, 30% Chinese artists, 15% Americans artists and 15% other nationalities.
The complete Art Market in 2016 (Annual Report by Artprice.com) is available online: https://www.artprice.com/artprice-reports/the-art-market-in-2016
On the whole, the Contemporary art market is substantially profitable over the medium and long terms. Despite several adjustments and corrections, our price index shows that the segment has retained the vitality it acquired in the early 2000s. Its 1,370% turnover growth in 16 years reflects an extremely dynamic market.
The chronique financial and economic crisis affecting the world since 2007, prompting widespread recourse to negative rates, has made the Art Market look like an oasis in the desert. According to thierry Ehrmann, Artprice's founder and CEO, the market is undergoing an orderly period of adjustment that was both necessary and predictable, and Contemporary Art has clearly occupied the center stage.
Contemporary art will always be the art market’s infrathin: constantly criticised for its record auction prices, its difficulty of interpretation and its inherently subversive nature. In many respects its critics are unwittingly key contributors to the Contemporary art market, and Marcel Duchamp’s understanding of the fusional relationship between the market and its detractors is still perfectly relevant.
Hence the annual evolution of our world ranking of the top 500 artists by auction turnover - who all enjoy relatively robust and firmly established markets - clearly shows a coherent and structured market as well as revealing the preferences of collectors and art professionals.
In buying Contemporary works of art, collectors and art consumers consciously accept that they cannot know what History will make of the artists they acquire. However, the last sixteen years have shown that a well-diversified portfolio of Contemporary artworks generates an annual yield of 5.6%, higher than the art market as a whole.
Do not forget: The Top 500 Contemporary artists:
The individual auction performances of the world’s Top 500 artists paints an interesting picture of the Contemporary art market. Although it is dominated by the major American signatures, the ranking reflects the diversity of the market’s offer and indicates the latest preferences of collectors. Korean, Filipino and Cuban artists were particularly present last year.
The Artprice Contemporary Art Market Annual Report (2015/2016) is freely available at the following link: http://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2016
Worldwide, more than 252,000 Fine Art lots were sold in the first six months of 2016, generating a total turnover of $6.53 billion (including fees). Artprice, world leader in Art Market information since 1987, has systematically analysed over 3500 auction sales to produce a detailed half-year report covering public auctions of Fine Art (painting, sculpture, drawing, photography, printmaking and installations).
Transactions rose 3.2% while sales turnover dropped -25%, almost entirely due to a reduced offer of major masterpieces (works priced over $10 million) in all artistic periods.
According to thierry Ehrmann, Artprice’s founder and CEO, with its overall economy on
meltdown watch for a number of semesters, China had been expected to lose its ‘soft power’
battle with the United States on the global art market this year. Its return to the global
leader position with a turnover up by more than $570 million is therefore a major
Another surprise on the global art market has been the generally low unsold rate and the dynamic pace of transaction growth, both clearly demonstrating the art market’s capacity for adjustment and safe-haven attractiveness compared with financial markets and standard investment returns.
In 2015, the United States recovered its leading position on the global art auction
market after losing it to China for five years. China still has by far the strongest
market for Old Master art in the world. In the global competition for cultural influence,
art represents a key factor in what is nowadays referred to as Soft Power, and in a number
of countries, this power is actively pursued (e.g. the United States, China and, on another
So this is the macro and micro-economic basis of today's Art Market: a market that has emerged for the last 16 years as a safe haven against economic and financial instability, with substantial and recurring returns.
Against a backdrop of negative interest rates and contracting stock markets, the Art Market looks remarkably healthy with its Contemporary segment alone posting a 1,200% progression of annual turnover over the past 16 years and a +43% linear progression of the average value of an artwork. These returns are not limited to star signatures; in fact our data shows that works valued at above $20,000 already generate significant annual yields of 9%.
The Art Market is an efficient, historical and global market whose ability to withstand
economic and geopolitical crises is well established.
Art prices keep changing scale. Topping at around the $10 million threshold in the 1980s and then reaching the $100 million bar in the 2000s, the New York Times reported the sale of a Gauguin painting to a Qatari buyer for over $300 million (NYT, 5 February 2015). Artprice believes it will not be long before the billion-dollar threshold is crossed.
In 2016 the Art Market has already demonstrated that it has moved into a higher gear after a private sale organised by Christie's generated $500 million, including $200 million for a Jackson Pollock canvas and $300 million for a painting by Willem de Kooning, equalling last year's Gauguin record.
The Art Auction Market: Art Market News / Three works fetched over $100 million / Key Figures
/ The Chinese Art Market / Leading marketplaces and geostrategic competition...
Download now: Artprice's Global Art Market Annual Report for 2015 >>>
New York - the Mecca of Contemporary art
The United States has recovered its leader position on the global Contemporary art market, resuscitating the fierce competition with China. In total the United States generated $650 million from Contemporary art, nearly $90 million more than China. This strong performance was essentially driven by New York, the global capital of the art market. New York is home to the biggest art collectors, the most powerful galleries and the most prestigious museums. It also has the strongest networks, allowing the fastest emergence of young artists in the world.
China slows, but remains potent
The contraction of the Chinese Contemporary art market (-36.9%), with turnover of $542 million versus $860 million the previous year, is indeed substantial. However the slowdown seems to have been largely triggered by a combination of exogenous factors, first among which is undoubtedly the drastic anti-corruption drive initiated by President Xi Jinping which temporarily paralysed the country’s luxury goods sectors and its art market. In the absence of clear legal definitions, a large section of the PRC’s wealthy population has temporarily refrained from making “extravagant” acquisitions. At the same time, the contraction of the Chinese art market has a number of similarities with the recent evolution of Chinese stock markets and it has mirrored a sharp slowdown in China’s economic growth that reached its lowest level in 25 years at end-2014. In short, economic reality has inevitably had an impact on the country’s art market. However, it is also valid to consider the slowdown as a natural adjustment to the phenomenal growth by the Chinese art market in recent years.
Europe’s turnover largely dependent on London
European artists are well represented on the global auction market. Generating a quarter of global Contemporary art auction turnover, they account for a larger share than Chinese artists. After the Americans and the Chinese, the best performing nationalities on the Contemporary art auction market are the Germans (10.8% of the market), followed by the British (10.7%), the Italians (2.6%), the Japanese (2%), the Indians (1.5%), the Swiss (0.9%), the Brazilians (0.8%) and the French (0.8%).
The Contemporary Art Auction Market: Key Figures / Career Paths / Major Prizes / Focus on the
Art Photography Market...
Download now: The complete Contemporary Art Market Report 2015 >>>
thierry Ehrmann, the CEO and founder of Artprice:
Artprice.com is pleased to present its eighth exclusive report on the contemporary art
Download it now on Artprice for free:
It contains original rankings, such as the Top 500 contemporary artists according to turnover.
Artprice permanently enriches its databanks with information from 4,500 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 6,300 international press publications.
Record-breaking year for the Contemporary Art market, with revenues smashing the US$2 billion mark (July 2013 - July 2014).
The 2013-2014 period for the contemporary art sector has never been so competitive or speculative with a record set by Jeff Koons' contemporary work of art sold €38.8 million, a record number of auction sales reaching the million dollar/euro threshold and a record auction turnover for a Post-War and Contemporary Art sale.
In four short years, the global turnover achieved in the sale room, irrespective of period, has almost doubled since the slowdown of 2009/2010: a period that registered a price drop of 48%.
Affluence has not been slow to return, buoyed up by a market structure that has changed significantly in many respects, including the increased globalisation and dematerialisation of sales. The galloping speculation of the period between 2004 and 2007 is once more to the fore and the contemporary market is more affluent than during the micro-bubble of 2007: a year of rocketing prices, with revenues for the year up by 50% for a similar number of works sold.
A new peak was achieved this year – the best in the history of contemporary art at auction in terms of auction turnover, price rises and record bids.
The price index of artists born after 1945 has followed the trend, reaching unprecedented heights and even topping the levels attained at the height of 2007 by 15%. All in all, the global index of contemporary art prices has risen by over 70% over the decade.
The art business is flourishing in a bubble that never bursts, and in continuing growth as regards works at the very top end of the market. This year, the high-end market acclaimed 13 contemporary works with prices of over €10 million, and designated the most expensive work in the world: a giant Balloon Dog by Jeff Koons, sold for over €38.8 million.
The most speculative names in art - considered safe investments by some despite the sector's volatility and wild fluctuations in price - are driven by powerful trendsetting gallery networks, curators and purchasing consultants, and by various leading players in the art market, of which the leading auction houses form an integral part.
Prosperity depends simultaneously on tried-and-tested mechanisms and the voracious appetite of investors bidding from all over the world. The contemporary art market has become an economic UFO with the globalisation of demand, which involves the arrival of extremely rich investors en masse.
Attracted by the diversification of investment and exceptional yield rates, demand has increased substantially, meaning that five times more works are sold today than 10 years ago, at price levels that bear no comparison.
A PDF version of the Artprice Contemporary Art Market Report is downloadable from Artprice.com in French and English. The German, Italian, Spanish and Chinese versions are also available.
Volatility of contemporary art prices
While the 1991 crisis made auction sales considerably more difficult, that of 2008 implies a greater degree of selectivity on the hottest segments of the market: Post-war and Contemporary art, particularly on the so-called «emerging» Asian markets. Th e new generation of collectors has invested en masse in contemporary artists with whom they feel most in sync, but they have also focused much of their cash on the most speculative signatures of the moment.
This phenomenon is reflected in our ranking of the Top 10 artists of 2008 with two living artists parading alongside the world's biggest revenue earners: Damien Hirst and Gerhardt Richter. In 2008, Post-war art (i.e. by artists born between 1920 and 1944) and Contemporary art (artists born after 1945) represented 32.3% of global Fine Art transactions and close to 35% of global art auction revenue. In fact, during the year, the most recent art was more likely to fetch six figure bids: whereas 3% to 3.3% of transactions in the combined segments of Post- War, Modern and Contemporary art fetched over $100,000, this ratio rises to 6.5% in the Contemporary segment alone. The same proportion of Old Masters also fetched over $100,000; but the overall number of lots was substantially smaller (20,000 vs. 50,000 in the Contemporary segment). As the most volatile sector of the market, Contemporary art is the first to suffer from the crisis and it has already seen some very sharp price adjustments: Artprice's global art price index shows that Contemporary art works lost 34.4% of their value in 2008 the sharpest contraction of all the segments back-pedalling 2 years of speculation to 2006 levels.
excerpt from: Art Market Trends 2008
© 2009 artprice.com
New York remains the largest market
With turnover of $ 1,322 million for some 30,000 lots sold, the United States dominated the art market once again in 2004. US auction houses accounted for 46.5% of the global fine art market compared with 42% in 2003, and total turnover generated in the United States rose 45% in one year.
A number of factors contributed to this substantial rise: an increase in sales volume (+15%), a dramatic cumulative rise in prices (+18.5% on the New York market) and the
growing number of lots sold for over a million dollars (229 works in New York, compared with 132 in 2003). Intense competition among the leading auction houses enhanced further the quality of works that changed hands in 2004, with New York benefiting the most from this race for the finest pieces. The Big Apple is by far the best market for selling works in the seven-figure range. Underlying this dynamic increase is a combination of factors: the inevitable wider accessibility of the art market, resumed growth on the financial markets, the dollar's depreciation and the search for alternative investments. While an investment of $ 100 in the US art market in 1994 yielded 60% in 2004, it was a completely different story in France: an art investment of € 100 only yielded on average 2% in 10 years.
The changing face of the European market
excerpt from: Art Market
© 2005 artprice.com