From TEFAF ART MARKET REPORT 2017
There is much optimism for 2017...
1. Total sales in 2016 were $45 billion dollars, up 1.7% on 2015. We adopt a focused and specific definition of art dealers and art galleries, representative o the industry at hand. The provision of detailed data and an improved classification of art dealers galleries results in comprehensive data on the art dealer sector from national statistics offices. The focus has the outcome that the industry estimates are smaller, yet we consider this to be more representative of the art and antiques market globa
2. The report paints a picture of a stable and resilient market, experiencing positive growth. Sales moving away from auction houses to the private sector, both to works private sales by auction houses and to dealers. In 2016 public auction sales of of art, high-end Jewellery and decorative arts reached $16.9 billion globally, down from $20.8 billion in 2015
3. Despite a 18.8% fall over the year in the dollar value of art and antiques sold at auction, prices on aggregate have not fallen as far, down 8.6%. A drop in the price of paintings sold at auction in Europe and Modern Art sold in the US; auction prices 4% higher for Modern Art, and 13% higher for paintings in China. Contemporary Art prices are 4% higher on average over the year, in Europe and the US.
4. The value of auction sales decreased dramatically in the US (41%), far exceeding in the 9% drop in consignments. Auction sales in dollar values fell in the U.K. (24%), line with the 16% drop in the number of lots offered, and the fall in Sterling. Auction ales in Continental Europe are up 3.6%. Whilst Asia has remained strong and stable over 2016; now with the largest share of auction sales globally.
5. The Asian auction market remained buoyant in 2016 with auction sales down -1.6% whilst China is down Asia now accounts for a 40.5% share of world auction sales 2.6%. up from a 31% share in 2015. China dominates Asian auction sales with almost 90% share. sales in Europe and the Americas are fairly equally balanced; Europe Auction sales, and the Americas with 27.5%; down from 37.5 attracting auction in 2015. With Africa and oceania together only representing 1% of auction sales.
Emerge yourself in TEFAF Maastricht celebrating 7,000 years of art history!
It was established in 1988 and is considered in the world as the most distinguished fair of art and antiquity.
This March experience 275 exhibitors from 20 countries, a fair that the London dealer Johnny Van Haeften was quoted saying that a gallery acquires "anywhere from 25 to 50 percent" of their yearly business at TEFAF. However, despite these benefits, the organisation is run by a non-profit European Fine Art Foundation.