Contemporary Art Survey

ArTactic has released its June Contemporary Art Survey.  Even though confidence levels are higher for the Contemporary sector than at the end of 2009, the indicators are not good due to the unsettled nature of the world economy. Most responding to the survey believe the economy and its recovery as a major factor effecting investment risk in the contemporary sector.

The ArTactic website states

Confidence level up, but fears about the economy increase

The latest reading of 61 is marginally higher (+4.2%) than the last reading in December 2009. However, the recent result also shows signs of increasing concerns over the outlook for the US and European economies and the impact that this could potentially have on the art market.

HIGHLIGHTS:

- The overall Contemporary Art Market Confidence level sees a marginal positive increase of 4.2% from December 2009.
- The Economic component of the Confidence Indicator drops 18.1% between December 2009 and June 2010.
- Risk Barometer jumps 22% on heightened fear of the sustainability of the art market recovery, but barometer is still 20% below the peak reached in November 2008.
- 69% of the respondents see the economic recovery as the single biggest risk to the current art market.
- 55% of the respondents believe the market direction will be flat over the next 6 months. 31% believe the market will continue to go up, and 14% believe the market will fall.

The full report is available for purchase on the ArTactic site, click HERE for more information.