RICS Third Quarter Art and Antiques Survey

The Royal Institution of Chartered Surveyors has released its third quarter Art and Antiques survey. I am please to see from both a price and confidence perspective the results are positive. The survey categories cover all lots, furniture, books, ceramics, silver , clocks, Jewelery, toys, militaria, oils and water colors, contemporary art, expected supply and expected demand.

Read the summary for a general overview of the positive direction and then download the full PDF for the full report and statistics.  Finally some positive news, if it can continue perhaps additional confidence and buyers will start to move into a support the various fine and decorative art markets, especially at the middle market levels.


The RICS survey summary states:

The net balance of surveyors reporting rising rather than falling prices rose in the third quarter, with the All Lot net price balance increasing from +7 to +14.

Out of the ten sub-sectors covered in the survey, only three did not record a positive net balance during the latest three month period; contemporary arts, ceramics and oil and water colours. The contemporary art sector continued to record a much weaker net balance reading than the oil and water colour sector (-34 vs. -3). Moreover, in the oil and water colour sector, it is notable that the price falls were recorded in the lower end of the market; at the richer end, prices were still rising.

The best performing sub-sectors were jewellery and silverware (with strong readings in all price bands). The continued strength of these sectors can be partly explained by the perceived 'safehaven' status of such items during times of financial and economic uncertainty as well as by the increased scrappage value of precious metals over the last three months.

In terms of the demand and supply outlooks for the Q4 period, confidence turned increasingly buoyant in both areas, with the net balance readings reaching 47 in both cases (although the shift was more pronounced for the supply outlook).

To read and download the full RICS survey, click HERE.