A week later, were bidding for Contemporary Art, which showed that the situation was corrected: Sotheby's session on 11.11.2009 brought 117.8 million dollars revenue, far surpassing forecasts of experts Sotheby's, who expected that bidding will bring no more than half that amount. The success of Sotheby's obligation to one artist - Andy Warhol. His self-portrait of iconic figure among the lots of the auction. This work lay far away from the auction of 42 years. Price it reached 5.4 million dollars, five times higher than the preliminary assessment. Other work by Warhol, "200 One Dollar Bills», a preliminary assessment of which amounted to 8.12 million, went for $ 39 million, taking second place in the list of the most expensive works of the artist. In 1986, this work yuyda sold at auction Sotheby's for 350,000 dollars.
United States v. United Kingdom, China against France: the war for supremacy
Shoe severely reduced the revenue of auction houses. The American market with the result for 2009 to 1.3 billion dollars is still a world leader pu3blichnyh sales, but loses 55%of revenues compared to the UK in 2008 with a turnover of $ 1 billion - a 65%lower than the previous year - takes second place.
This loss in revenue of Anglo-Saxon market, nevertheless represents a 49%of worldwide turnover of public sales, due to poor results of two mastodons - Christie's and Sotheby's. The number of lots sold at their auctions, in relation to 2007 decreased by 34%and 47%. This reduction directly affects the annual sales: Christie's turnover decreased compared with 2007 by 57%and the turnover of Sotheby's - 60%. Taken together, these auction houses represent 60%of worldwide turnover of public sales, but only 10%of transactions. Their position has become less stable compared with 2008, when they represented 72,3%of global turnover and 15%of transactions.
In China the situation is reversed: the volume of transactions grew by 25%(830 million dollars). China, in third place in the world market of public sales, is gaining momentum, while, as his Anglo-Saxon enemy weakens. China now represents 17,4%of global revenue from public auctions (in 2008 - only 7,7%) and "comes on the heels of" Great Britain. Turnover of France, ranked fourth in the world increased by 31%through the sale of the collection of Pierre Bergé /Yves Saint Laurent, the French component of 40%of annual turnover (ie, 265 million dollars from 665 million recorded in 2009).
China
Of course, Asia is affected by the global financial crisis. At the end of 2008 not less than fifty Chinese galleries finally closed its doors. In the first semester of 2009 economic performance of China were the lowest since 1992, however, despite the crisis, China has sold as many works of modern art, as before the crisis, exposing for sale less speculative work. Fashion avant-garde artists had gone into the background, the price for their work frightened away customers - but not without exceptions, in particular, the record made in the sale of linen Chen Yifeya «Thinking of History at my space», purchased in Beijing 25/05/2009 for 5, 3 million dollars.
Thus, China is gaining new territory in the global art market and changes the hierarchy of contemporary art and art of old masters. The proof of this - a modern artist Qi Baixo ranked third in the list of 10 most expensive artists for 2009 As a result of the sale of works at public auction, he is second only to Picasso and Warhol. In addition, five Chinese artists included in the list of 10 most expensive masters figure for 2009, ahead of such giants as Michelangelo, Leonardo da Vinci, and Francisco Goya. This entry of Chinese artists to the world stage has been meteoric - such as lightning, as in their time of contemporary art in China. After paying tribute to the young avant-garde artist, now Chinese buyers prefer to buy are not as speculative work. Contemporary art and the art of old masters operate on a completely razlichyanym law: contemporary art is not stable, its customers belong to the international business community, the market of the old masters, by contrast, is supported by the regional buyers from among serious collectors and not speculators.
Paris in numbers
Thanks to sell the collection of Pierre Bergé /Yves Saint Laurent France has registered good results. Since 2009, when it was sold a collection of Andre Breton, the French did not have such high-profile bidding. But this success is an epiphenomenon, and should not obscure the reality: the state of the art market in France lamentable.
One example of this - 45%of unsold lots by the end of 2009, significantly exceeding 37%of the world.
Selling the collection of Pierre Bergé /Yves Saint Laurent has allowed the Paris branch of Christie's to take first place, which he lost in 2008, the Paris branch of Sotheby's. Turnover Paris Sotheby's declined by 33%and accounted for 59 million dollars.
As for the French Societies of non-coercive public sales, the third place is Artcurial with a turnover of 40 million dollars, despite its reduction of approximately 14%. Particularly affected the market of contemporary art - in 2009 revenue from its sales fell by half. Is followed by Millon - Cornette de Saint Cyr (29,6 million dollars), Piasa (17,7 million) and Claude Aguttes (17,6 million).
France, which since the 1950's. all the time inferior part of the market and which in 2007, overtaking China's competitive. It is above all an incredible accumulation of works of art with quite an acceptable price. The French market is unfavorable for speculative transactions, evidence of that - the price 89%of products sold was less than 10000 dollars. Actually, during the speculative bubble in France benefited from a favorable situation is much less than the Anglo-Saxon countries.
In 1950, the turnover of the Hotel Drouot (first place in France, the annual turnover in 2009 reached 410 million euros, including the forced sale) turnover exceeded Christie's and Sotheby's, put together. In 57 years Christie's and Sotheby's sold in Hong Kong two times higher than in Parizhe.Takoe situation exacerbated by a scandal that broke out in Paris with the machinations of the carriers makes it possible for the Hotel Drouot (red collar) and affected the prestige of the house. Minister of Justice, Ms Michele Alliot-Marie, understood the risk of the case and appointed a commission to monitor, consisting of three members, including one representative of the public sales. Soon they should publish their report.
The reform of the French system in accordance with European Union Directive on the liberalization of public procurement (2006/123/SE) - the last chance to survive
To date, administrative and customs barriers, the various taxes and fees, VAT on imports of works of art, etc. constitute a major impediment to the development of French art market. It needed a complete reform of the system. The European Union has a strong pressure on France, urging her to urgently bring the system of public bidding in conformity with the directive on the liberalization of trading, in particular, trades on the Internet. The directive stipulated that neobhodimye reforms should be carried out before 28.12.2009. Accordingly, 28/12/2009 Senate passed a bill that senators Philip Marini and Jan Gaillard on the liberalization of non-coercive public procurement, including electronic trading, in order to "promote the development of the art market competition."
The EU believes that the French reform of 10.07.2000 and affiliated with the decree, issued in 2001, represent an insurmountable obstacle to the French auction houses, as well as for electronic trading. The final adoption of the bill Philip Marini and Jan Gaillard expected in the first quarter of 2010, it must not allow France to become a weak link in global art market.
To date, the conditions provided by both sellers and buyers in Asia, much more attractive. - The absence of customs duties on importation as well as for export of works of art, a commission when they buy, not to exceed 12%regardless of the tranche prices, while in Europe and in Anglo-Saxon countries, these fees typically amount to 20-25%(up to 500,000 dollars ).
Year Confidence Index
In early 2008, Artprice has produced a new indicator of confidence on the art market, Art Market Confidence Index (AMCI), designed to understand in real time market trends. In 2008, AMCI has revealed the reactivity of the art market and its participants during the global economic turmoil. In 2009, AMCI has played the role of first barometer of economic frustration, and then - once again found faith in the growth of the market. Currently, AMCI can identify in near real time link between the geopolitical, socio-cultural and economic developments on the one hand, and the art market, on the other.
This index uses a theoretical basis for confidence Michigan Consumer
Sentiment Index, developed at the University of Michigan and used to measure trends in markets around the world. For two years with nbolshim AMCI became a primary tool of information. Tens of thousands of market participants, customers, copyright Artprice.com, use this index in order to ensure that the art market trends in real time.
The index of confidence of market participants Artprice.com art
Barometer AMCI in 2009
At the beginning of 2009, AMCI has shown that there is a strong kolleryatsiya between anxiety collectors and economic risks. Art Market down 30%in just one in 2008, at the beginning of 2009, the optimists have been scarce. Collectors abandoned their pessimism only in mid-March and in May AMCI first time since records in May-June 2008 exceeded the 31 points of trust.
31 th January 2009 AMCI has fallen below the 20 trust points, reaching a level of confidence of market participants, who described the catastrophic decline in the market in November 2008 In February, the situation has not improved: 66%of the responses to the question about the future of the art market and the general world economy show a strong concern on the medium term. Only 25%of the market participants believed that the srednechrochnoy optics Art Market and the financial markets will return to the disadvantaged, while 50%of respondents thought that the crisis is systemic and long established. The intention to purchase works of art, which had hitherto remained strong, as the current crisis given the opportunity to buy them at attractive prices, decreases with incredible speed (in January and February had lost 10 points).
9 th March 2009 the U.S. stock market index S & P 500 reached its lowest level in 10 years, and then began to rise, slowly but steadily. The next day AMCI rose and reached a positive level - Art Market Trends should financial markets.
Art Market, which became a few months completely unbalanced and managed exclusively by selective demand, find a balance. Strategy auctioneers offered for sale non-speculative work in small quantities and at attractive prices, brought the desired results - collectors returned to the market of public tenders.
Consequently, changes proisschshedshie in the first semester of 2009, gave collectors confidence in the future. In the third quarter, the intention to make purchases exceeded 70%of market participants, and in September more than two-thirds of respondents said that they believe in the positive evolution of prices on the art market.
In September, the confidence of American households, measured by the University of Michigan Confidence Index, set at 73.5 points, 15 points higher than the lowest level reached in March. September 15, 2009, exactly a year after Hirst auction at Sotheby's - swan song of the art market, AMCI has reached its annual record of 42 points of trust.
From September to December AMCI finally settled between +15 and +35 points of trust. The weakening of the dollar against the euro led to good results, the New York session, at which the records were achieved. This trend has continued in London at auction at the end of the year.
2000-2009 gg. Decade in numbers
2000: 50 million - a record of Pablo Picasso. This record prices reached a "Woman with arms crossed" by Picasso, sold the 8 th of November in New York City Department of Christie's. Thirty years after his death, Picasso was the most "young" artist who has reached strips $ 50 million per picture.
2001: 8%- the post-war art at high prices. The price index for the post-war art in 2001 rose by 8%. In the next 10 years the price of this art have risen by 116%, it was the most kotiruyuzimsya segment. Postwar art also includes between 200 and 2009. 18%of the millions of trades.
2002: 40%- the first footsteps of the crisis. In 2002, 40%put up for auction works remained unsold. The attack of September 11 has caused in the collective consciousness of the specter of the crisis ... But the crisis is not confirmed, and from 2003 to 2007. the number of unsold items will not exceed 36%. The crisis, which inspires such anxiety, comes after six years: in 2008 39,2%of works on display at the public auction, remain unsold.
2003: 20%- the dizzying rise of modern art. Rise in prices for contemporary art began in 2003, during which there was an increase of 20%. In 2003, only four works of modern art reached millions of auctions. In 2008 there were over 190.
2004: a world record. «Boy with a Pipe" by Picasso sold at New York's Sotheby's auction for $ 93 million and became the most expensive work of art sold at public auction. The result beat the previous record - "Portrait of Doctor Gachet Van Gogh sold in 1990 for 75 million dollars. But the record "Boy with a Pipe" almost beat the 3rd February 2010 on the sale of "walking man" Giacometti, who had gone for 58 million pounds, that is 92.5 million dollars. This blow hammer completely changes the status of sales of works by Giacometti - a sculpture that was worth more than 170 works by Giacometti, for sale in 2009
2005: 15,5%- American domination. increase traffic on the art market in the United States exceeds 10%. During this decade in the United States sold more than 41%of transactions.
2006: 6.7 billion dollars - the market is becoming global. Art Market is growing rapidly and its annual turnover has increased by 56%, reaching 6.7 billion dollars, whereas last year it stood at 4, 2 billion of the vast number of trades in 2006 doubled. Global tseen index rose to 19.2%, China has become a major participant in the market of art.
2007: the competition between millionaires. The turnover of the art market has reached $ 9 billion, prices increased for the year by 28,9%. May 15, Sotheby's sold a Francis Bacon work for 47 million dollars, then the work of Rothko, for 65 million, the next day Christie's sold a work by Warhol for 64 million dollars.
2008: - 171.6 million dollars - a phenomenon Daniel Hirst. This is the sum of the two-day public auction of Hirst works in London on 15 th and 16 th of September. A few hours after the end of their bank Lehman Brothers declared bankruptcy. A month later, the art market confidence index Artprice (AMCI) lost 20 points. For 4 months the price index of works of art lost 25%.
2009: 230 million dollars - selling collection Berge-Saint Laurent. on February 23 at the Paris Grand Palais Christie's held a sale of the collection Berge-Saint Laurent. Twenty-five subjects ü price exceeded $ 1 million and took place in the annual list of 10 records at public auction.
List of 10 most expensive art
Three a finding: firstly, the total value of sold products is three times lower than in 2009 Secondly, the crisis has confirmed the return to non-speculative tsennnostyam and loss of interest in speculative contemporary authors. Thirdly, the Chinese art came to the fore.
This list of 10 most expensive artists with an annual result in 654 million dollars to two-thirds lower than the corresponding list for 2007 (1.84 billion dollars), compared to the same since 2008, he lost more than a billion dollars! Obviously, the impact of the crisis is very significant, but at the same time it is impossible to speak about the disastrous results - they are higher than in 2004 and 2005. (576 + million).
The results of the higher segment of the market melted away like snow under the sun, so the entrance to this list has fallen in price compared to the "obese" 2005-2006-2007-2008 years. - With 91.8 million dollars in ticket list between 2008 and 2009. dropped to 40.39 million dollars.
During these "fat" years, a list of 10 most expensive artists much younger - the modernists were forced to relinquish their seats b Warhol, which came in 2007, the first place before Picasso and golovokruzheitelny highest growth segment of contemporary art allowed to take a Hirst in 2008, 4-e place. In 2009 the situation changed dramatically: the hero of speculative wave Hurst was a 44 th place.
In 2009, the most modern of artists who were present in such lists in previous years, were beyond the threshold, except Uorhzola, which is now considered a classic. Cleared space occupied Qi Baixo, whose work was sold for 70 million dollars, and master Kvartochento Rafael, setting a new record.
Idols of modernist art seriously became cheaper - the turnover of the greatest - Pablo Picasso, Alberto Giacometti, Edgar Degas and Claude Monet - compared with the results in 2008 fell by 55%-77%. The only artist from the list, the results have not declined in comparison with previous years - Qi Baixo, Piet Mondrian, and Raphael, are landmark works appear on the market which are very rare.
Charts:
- Turnover public bidding by country
- Turnover public bidding for auction houses (left total revenue. The right proportion of sold lots)
- Artprice Confidence Index for 2009
- Confidence Index Artprice
- List of highest prices achieved at auction
- List of 500 most expensive artist
21.03.2010, 22:02
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