Artprice Annual report on trends in the market of contemporary art

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Continuation and end. There is more about design, do not know whether there is an interest, as well as the rest - mura

East versus West

On the map art market, China, Taiwan, South Korea, Singapore and Japan have an important place. All together, they are able to arrange a "palace coup" and expel the Americans from the throne: this year the turnover of the Asian zone for the first time surpassed the U.S. (130 million euros against 123 million), affected by the crisis!

In 2007, China became the third largest world market sales at auction. Beijing and Hong Kong have won a reputation for rapidly developing new areas, which since 2005 has led to a sharp increase in investment in these regions. The dynamism of the Chinese market has attracted Sotheby's and Christie's, which twice a year they organize auctions of postwar and contemporary art of Asia. After them flew to Hong Kong, Bonhams (the first auction in November 2007), and then Artcurial (January 2008).

Figure 7: 10 largest auction centers for contemporary art (artists born after 1945 in July 2008/30 June 2009 gg.)

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Contemporary Chinese art has suffered greatly from the effects of two years of frenzied speculation. Autumn 2008 Sotheby's and Christie's in Hong Kong organized their trades postwar and contemporary art of Asia. Share of unsold lots, usually koleblyuyuschayasya for this type of trading between 9%and 10%to 33%. Bidding Christie's on November 30, 2008 was disastrous: 44%of the proposed works of contemporary art have remained unsold.

This year China maintained its third place among the largest centers of deals on contemporary art, which he conquered in 2007, overtaking France, but lost -63%of turnover (95 million euros against 239 million euros between July 2007 and June 2008. ). On this basis, the fall turnover can say that China is the country most seriously affected by the crisis in the sector. The first impact of the global financial crisis on the art market emerged in Hong Kong, and to then spread around the world. Maybe Asia is becoming a forerunner of world economic turmoil?

One of the strengths of the Asian and, in particular the Chinese market is a powerful and dynamic support gpuionalnyh artists, including the youngest.

Indeed, the list of 50 most expensive works of art sold at auction, the Chinese literally crushed everyone else. Almost half of these works created by Chinese artists, 64%- by artists from Asia!
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With regard to the different situations Vlikobritanii, then it em name - Damien Hirst. His position is particularly impressive: the work of Hurst, reached at the auctions between July 2008 and June 2009. more than a million euros, more numerous (29) than the works of contemporary artists of the traded in the U.S. in the same period (17)! Thanks to the phenomenon of Hirst's UK art market has retained its volume of transactions (261 million euros against 261 million euros last year) and surpassed the United States, where turnover has suffered from the crisis.

Graphical indicators for some artists:

Figure 8: Damien Hirst (1965) - The evolution of prices (1998-2009)

Chart 9: Peter Doig (1959) - Distribution of sold lots of country sales (2008/2009)

Figure 10: Jean-Michel Basquiat (1960-1988 gg.) - The evolution of prices (1998-2009)

Figure 11: Richerd Prince (1949) - The evolution of prices (2001-2009)

Chart 12: Takashi Murakami (1962) - Distribution of sold lots of Technology (2008/2009)

Chart 13: Martin Kippenberger (1953-1987 gg.) - Allocation of lots sold at the price range (2008/2009)

Figure 14: Anselm Kiefer (1945) - The evolution of prices (1998-2009)

Figure 15: Mimmo Paladino (1948) - The evolution of prices (1998-2009)

Figure 16: Maurizio Cattelan (1960) - Distribution of sold lots of country sales (2008/2009)