Art Market : Teaser n°4 Annual Global Art Market Report 2014 ARTPRICE & ARTRON

final art turnover art public auction in china teaser 4 EN

In 2014, the Chinese Fine Art auction market secured its position as the fi rst largest art mar‑ ket in the world, despite a drop in its market share. The economic value of artworks was enhanced, and the concept about them being a means of asset allocation was fi rmly ac‑ cepted by wealthy people. The celebrated art market expert Gong Jisui said, ‘Though there is no detailed data available, it is widely con‑ sidered that each year the number of new art collectors increases by more than 20%. These collectors typically start by purchasing low‑ priced works of modern and contemporary art. Eventually, either the increase in purchas‑ ing power of new collectors or the expansion of traded new categories will bring the Chinese art market new points of growth.’

Annual Global Art Market Report 2014 by Artprice & Artron will be online March 3, 2014


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