Thursday, February 26, 2015

This incredible explosion of the art market in 2014 –

This incredible explosion of the art market in 2014 –

2014 was an exceptional year for the auction of works of art in the world with a historical revenues up 26% year on year and a record number of sales in excess of one million dollars.

China retains its first place just ahead of the United States, in a market driven by the increasing number of museums, according to the annual report of Artprice, the world leader in data on this sector transmitted exclusively to AFP.

With a turnover of $ 15.2 billion (€ 13.5 billion) against 12.5 billion in 2013, the public auction of art in the world last year reached a record level.

“An amazing result, an increase of 300% in a decade,” he told AFP Thierry Ehrmann, founder and CEO of, whose report was produced in partnership with the Chinese conglomerate institutional Artron.

1679 auction over 1 million

This boom is accompanied by an unsold rate 37% in the West and 54% in China, which “demonstrates the absence of speculation,” according to Thierry Ehrmann.

The year 2014 was also marked by a record 1,679 or greater results one million, four times more than a decade ago. 125 Artworks have been sold $ 10 million or more (excluding fees), against 18 in 2005.

followed closely by the United States, China is still in the lead with a turnover of 5 $ 6 billion (including Hong Kong and Taiwan), down 5% compared to 2013. Despite this slowdown, it takes precedence over its US rival, especially “because it has the largest market of old works “said Thierry Ehrmann.

A museum opens every day in Asia

2014 however was exceptional in the US with an increase of 21% to 4.8 billion dollars. Good performance also from Great Britain (+ 35%), which strengthened its third place with $ 2.8 billion.

“The demand is constant and aggressive, and on every continent, says Thierry Ehrmann, thanks to the “museum industry”.

“He created more museums between 2000 and 2015 than during all the nineteenth and twentieth century and it opens in the Greater Asia a museum day, “wrote the president-founder and chairman of Artron Group, Wang Jie.

However, they add,” a museum needs a minimum of 3,000 4,000 quality works to be credible “and” does not intend to dispose of its acquisitions, “as a mere collector.

If the bids over a million dollars represent only 0.4 % of the market, they are “essential for power continues US and Britain,” the report said.

83 125 awards to ten million or more have been made in the United States. These sales represent only 1% of the lots scattered but 75% of US sales volume

Andy Warhol:. $ 569 million in 2014

One of the most spectacular auction concerned a picture of the American Barnett Newman 1961 (“Black Fire 1″), estimated $ 39 million and sold 84 (charge) in May at Christie’s. But this is Andy Warhol who wins hands down with $ 569 million dollars for the auction of his works in 2014.

The high-end has also boosted the UK market where works sold over a million accounted for 67% of sales.

According to Artprice, the market, after reaching $ 100 million for work in the 2000s, is on the verge of a new change of scale. In early February, a Swiss collector sold through direct sales a painting by Gauguin for $ 300 million, according to the New York Times. The billion could be reached soon, says Artprice.

So that “20 years ago, America and Europe accounted for more than 95%” Sales said Thierry Ehrmann, the The art market is now “present on all continents without exception.” He “became a wholly-investment, reliable, stable over time and much less prone to violent reversals that the stock market.”

(With AFP)


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