This week, Artprice’s half-year art market report put into the limelight the facts that the US dominates the global art market, London’s importance as a market place is growing, and China’s growth has been curbed. This report perfectly describes the general evolution of the art martket but there remains a great amount of information to be analyzed for an in-depth understanding of the market’s subtleties and structure.
Artprice provides below a few examples of the data that can be requested from the Econometrics department to study specific changes and evolutions in the market.
France market share on the global art market in H1 2009. If France was then close behind the UK (21%), there now is a wide gap between the two European countries: in H1 2015, France only repesented 3% of the art market when the UK accounted for 25% of the global auction turnover!
China’s H2 2011 total auction turnover its best half-year result ever! At that time, the West was slowly recovering from the financial crisis and the Chinese art market was soaring. Four years later, the situation seems to be reversing.
– 41 %
The decrease in Switzerland’s auction turnover between H1 2014 and 2015. This slump is due to last year’s exceptionnal results for Swiss auction houses following several special sales such as Galerie Kornfeld Auktionen’s 20 June 2014 Marc Chagall sale in Berne that yielded over US$25,4 million.