Art Price Releases its Contemporary Art Annual Report

Artprice released their annual Contemporary Art Market annual report. According to the Artprice website printed in English and French is a guide for the art market as seen through the prism of auction in 72 different countries. It includes analysis such as Structural change: towards a new world order; The art market in the new economic reality; Sculpture: an “in vogue” medium; The Chinese wave still flooding the market; India, the new Himalaya of the market; Affordable contemporary art; The best first appearances at auction in 2007; The heavyweights of the contemporary art auction market; Galleries insight with exclusive interviews; a top 500 of contemporary artists; a report on the market of Design; International contemporary art fairs and galleries: an exclusive overview by sociologist Alain Quemin.

The 100 plus page report has gathered a large amount of data, and makes several conclusions, such as the growing impact of the Chinese. The report also states the growing demand for the middle market of contemporary art. With upper market contemporary prices extremely high, I can certainly see why the middle market would show signs of growth. The contemporary upper market is just to high for many collectors. A quick review of the reports table of contents reveals sections on 2007/2008 contemporary art markets, gallery insights, French design, and a list of 500 contemporary artists.

There are reports coming out of the Paris based art fair Foire Internationale d'Art Contemporain (FIAC), where the Artprice report was released, that reveal some strengths in the contemporary middle market. Emerging artists were being displayed by over 70 dealers at the fair, an increase of over 20 from the previous year. This is certainly a positive sign since many of the other fine and decorative arts middle markets have shown weaknesses.

I have yet to fully read the report, but my only word of caution is that the report may be missing the most recent sales data and the downward turn of the economy over the past month or two. Just be cautious in your analysis, and keep in mind current events.

To donwload the the Artprice contemporary art annual report, click HERE.