Welcome!

News Feed Item

Artprice: The Art Market 2013 +15 % Best Year Ever

PARIS, March 4, 2014 /PRNewswire/ --

As Artprice had sensed, and indeed written, during 2013, this was indeed the best year ever recorded in auction history (over $12 billion), and the best sale ever for Christie's in its 247 year-old history - achieved in addition for post-war and contemporary art, with an absolute record for a hammer price: $127 million. This went to a work by the British artist Francis Bacon. 2013 was marked by nearly 15,000 new records for artists, and over 23,000 if first bids are included.

This splendid year was shored up by a globalised demand, particularly with buyers from Asia, the Middle East and Russia, who played a crucial role in the market's fine performance, and displayed a voracious appetite for flagship artists of the 20th century, landing them in a spate of records.

Artprice.com has been the world leader in art market information since 1987. Each year, it analyses auction results throughout the world, together with variations in the market, quoted values and price indexes for artists and works, and the forces involved in this specific market. It also examines the various cultural sensibilities and the intrinsic relationship between art and money, which produces much covetousness, and a few disappointments as well.

Introduction

In 2010, the several hundred thousand results compiled by Artprice showed that the world of art had been drastically changed by the emergence of a power that no player in the market could hitherto ignore: China, whose annual sales results crushed those of the superpower America for the first time in history. For the fourth year running, China has held out on the US, because the results for 2013 have put it at number one yet again.

In China and the US alike, sales of art works have never been so vigorous. The total of global annual sales was up by 13%, rising from $10.6 billion to $12 billion, and the global price index gained 15 points last year, making for an overall rise of 80% in 10 years.

Are the escalating prices and the prestige sales arousing frenzied competition, where profit can climb by several millions in a few minutes, the symptom of a new speculative bubble? The answer is no, according to the market players, who consider that there has been a profound change in the state of affairs.

Because the art market no longer depends on a handful of wealthy buyers whose withdrawal from the game would cause a general collapse, but is now nourished by a growing number of extremely rich buyers who have been won over to the high spheres of the art market for various reasons. We are now seeing the emergence of new museums designed to make nations shine; private collectors rubber-stamping their pedigrees through the quality of their collections; investment funds which sometimes revise their choices after nurturing micro-bubbles and productive to-ings and fro-ings over new names, and new billionaire buyers for whom the acquisition of a major work is simultaneously a personal adventure, a form of social enhancement and a prime investment.

In addition, eight of the fifty top bids in 2013 went to living artists and the Top 50 bids even include a 21st century work: The Last Supper (2001) by Chinese artist Zeng Fanzhi.

Key figures for 2013

China's revenues were up yet again in 2013 (+21%) despite an excellent year for the Americans (a rise of around 20%). The twin pole of China and the US controlled nearly 70% of the art market in terms of sales volumes, and the two superpowers were neck and neck. China, number 1 in the global market, posted a total of $4.1 billion; the US also achieved over $4 billion, thanks to a very wealthy globalised demand for names considered as trophies.

Given this steady rise in power, the other market places were left far behind. At $2.1 billion, the UK generated half the revenues of the leaders, but its 3rd place was challenged by no other country, as France, 4th in the ranking, made $549 million (4.5% of the market), followed by Germany ($207 million; 1.7% of the market), Switzerland ($159 million; 1.3% of the market) and Italy ($110 million; 0.9% of the market), the only ones who succeeded in passing the revenue threshold of $100 million.

With an unsold rate of 34% in an overabundant offering, the market had never been so greedy in its history, digesting twice as many works as it did ten years ago. This shows how much broader it has become over the past decade. Sales totalled $12.005 billion, an absolute record in auction history - up by 13% compared with the vintage year of 2012* and by 2.3% compared with the previous record year, 2011, with revenues of $11.78 billion.

*Total sales in 2012 came to $10.6 billion for Fine Art as defined by Artprice.com, i.e. sales of paintings, drawings, sculpture, photography, prints and multimedia for the works of clearly identified artists, the figures of AMMA Artron in the 2012 report being based on a broader spectrum.

Artprice publishes this exclusive report on the art market in six languages. It is quoted by 6,300 international institutions and media each year. Produced using the bidding results from 4,500 auction houses, the 2013 Annual Report consists of macro-economic and micro-economic analyses updated according to new sales and variations in the price of art works. The report, published by Artprice press agency ArtMarketInsight with the econometrics department of Artprice, also contains original rankings such as the Top 500 of artists by turnover, and the list of the 100 highest bids of the year.

thierry Ehrmann

Source: http://www.artprice.com (c)1987-2014 thierry Ehrmann

SUMMARY

        Introduction

        Key figures for 2013

        Media

        Periods

        Geography of the market

        Conclusion

Format PDF - 138 pages

Download the complete PDF format document:

http://imgpublic.artprice.com/pdf/trends2013_en_fr_de_es_online.pdf

About Artprice:

Artprice is the global leader in art price and art index databanks. It has over 27 million indices and auction results covering more than 500,000 artists around the world. Artprice Images(R) gives unlimited access to the largest Art Market resource in the world: a library of 108 million images or prints of artworks from the year 1700 to the present day, along with comments by Artprice's art historians.

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. For its 2,500,000 members (members log in), Artprice gives access to ads posted by members. This space represents the world's leading Standardised Marketplace® for buying and selling art. These sales take place under two systems: either fixed price sales or auction-sales (regulated by paragraphs 2 and 3 of Article L 321.3 of the French Code of Commerce).

Artprice is listed on the Euronext Paris SRD L.O. (Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF)

http://twitter.com/artpricedotcom

https://www.facebook.com/artpricedotcom

Discover the Alchemy and the universe of Artprice http://web.artprice.com/video, which headquarters are the famous Museum of Contemporary Art, the Abode of Chaos

http://goo.gl/mwsqp

https://vimeo.com/87859684

Contact : e-mail : [email protected]

SOURCE Artprice.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...