PARIS, August 3, 2018 /PRNewswire/ --
First Half 2018: the Art Market posted a general recovery of +18%
1. Global auction turnover on Fine Art* rose 18%, totalling $8.45 billion
2. Transaction numbers remained stable with 262,000 lots sold, up 2.5% vs. H1 2017
3. The USA posted a massive 48% increase, with total turnover of $3.3 billion
4. China**, with $2 billion in turnover, reduced its unsold rate before a decisive H2
5. The UK, with auction turnover up 18% to $1.9 billion, is just behind China
6. The EU is contributing to growth: France +8%, Germany +17%, Italy +22%
7. Modern Art, the mainstay of the market's high-end, accounted for 46% of total turnover
8. Modigliani and Picasso both scored results above $100 million threshold
9. Zao Wou-Ki was China's best-performer in H1 2018 with total sales of $155 million
10. Contemporary Art's global price index rose 27%, a serious competitor of the S&P 500
* Public sales of Fine Art (Painting, Sculpture, Drawing, Photography, Prints, Installations)
**In collaboration with Art Market Monitor of Artron (AMMA)
Worldwide, the Art Market grew by +18% in H1 2018, pursuing the growth seen in H1 2017 (+9%) and confirmed in H2 2017 (+32%).
At a global level,+262,000 Fine Art lots were auctioned in the first six months of 2018, generating a total product of $8.45 billion (including fees). Artprice, the world leader in Art Market information since 1987, has systematically analysed and digested the results of +3,532 auction sales around the world. This half-year report covers public sales of Fine Art. (painting, sculpture, drawing, photography, prints and installations).
Read Artprice.com's H1 2018 Global Art Market Report online at:
According to thierry Ehrmann, Artprice founder and CEO, "Since 2000 the Art Market has demonstrated an exceptionally high degree of maturity, resisting the NASDAQ crisis, the consequences of nine-eleven, of the second Iraq war and of course the unprecedented financial and economic crises that started in 2007. Since then, it has been operating against a backdrop of negative interest rates that undermine the value of savings and, more recently, in a global context of heightening geopolitical tensions. During these past 18 years, the Art Market has managed to adapt to reality, not only avoiding its own collapse in the face of financial crises, but actually creating a genuine investment safe-haven without forming a speculative bubble."
The attractive returns on art over the last few years have outperformed many other investments and the Art Market has become an independent, liquid and efficient market on all continents.
The Top 500 artists by sales product indicates China has acquired, over he years, a significant position in the Art Market and now boasts 128 of the world's 500 most-rated artists, far ahead of the United States (82) and Great Britain (27).
Top 10 Countries by Auction Turnover H1 2018
Country - Turnover - (Market Share)
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The data pertaining to the Chinese Art market is the fruit of Artprice's 7-year collaboration with its Chinese institutional partner, Artron Group and AMMA (Art Market Monitor by Artron), directed by Wan Jie.
Despite a relatively unfavourable economic context, the global art market has shown signs of buoyancy, driven by a powerful combination of investment logic, speculative buying, passion collecting and insatiable demand for major signatures from new museums around the world.
These growth drivers rely heavily on easy access to reliable Art Market information such as provided by Artprice (pioneer and global leader in the field) and have been boosted by a whole series of underlying phenomena. These include a rapidly spreading awareness that every aspect of participation in the art market, including online sales, can be conducted via the Internet (98% of participants are connected to Internet); a financialisation of the art market's high-end fostered by its stability and transparency; a rapid increase in the art-buying population from roughly 500,000 after 1945 to approximately 90 million in 2018; a significant reduction in the average age of market players and a major geographical expansion of the market to nearly all of Asia, the Pacific Rim, India, South Africa, the Middle-East and South America.
Another massive Art Market driver is the new-era museum industry (700 new museums per year) that has become a significant economic reality in the 21st century. More museums opened between 2000 and 2014 than in the previous two centuries.
Hungry for museum quality works, this sector is one of the primary drivers of the Art Market's spectacular growth. The Art Market is now both mature and liquid, offering yields of 10% to 15% per year on works valued over $100,000.
Considering these macro- and micro-economic data, the past 18 years have confirmed the Art Market's potential as a safe haven against economic and financial turbulence, generating substantial and recurring yields.
With central banks effectively working in a negative interest rate environment, the Art Market looks very healthy by comparison having posted a 2,108% growth in the annual auction turnover of its Contemporary segment over the past 18 years. The global Art Market has also posted linear growth in the average value of an artwork (Old, Modern and Contemporary) of +25% over the same period. If we look at the Contemporary segment alone, the progression is +88%.
These returns are not just reserved for "star" artists. We find a substantial average annual yield of +9% on works sold above the €20,000 threshold.
The Artprice100® shows a progression of +360% since 2000. About Artprice100® :
The Art Market is an efficient, historical and global market whose capacity to resist economic and geopolitical crises requires is now beyond doubt.
TOP 20 artists - H1 2018
Artist - Turnover - Number of works sold - Best result
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Top 10 auction results in H1 2018
Artist - Work - Price - Date - Auctioneer
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Artprice is the global leader in art price and art index databanks. It has over 30 million indices and auction results covering more than 700,000 artists. Artprice Images(R) gives unlimited access to the largest Art Market resource in the world: a library of 126 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 6,300 auctioneers and it publishes a constant flow of art market trends for the world's principal news agencies and approximately 7,200 international press publications. For its 4,500,000 members, Artprice gives access to the world's leading Standardised Marketplace for buying and selling art. Artprice is preparing its blockchain for the Art Market. It is BPI-labelled (scientific national French label) Artprice's Global Art Market Annual Report for 2017 published last March 2018: https://www.artprice.com/artprice-reports/the-art-market-in-2017
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