DOWNLOAD THE SURVEY RESULTS – The Appraiser Workshops Fine and Decorative Arts Market Survey report is now tabulated. Click HERE to download the complete report with charts. An excellent appraisal resource for market trends and analysis.Bloomberg has an article on how British companies are cutting back spending on the arts. According to the tracking group Arts and Business, UK companies spend nearly 11% less in the year ending March, 2010 on the arts. This amounts to a decline of nearly $230 million. It should be noted, and the slashed budgets should not be surprising as the time frame of the survey covers most of 2009, which we all know was a very difficult year for the arts and cultural institutions. The article and general analysis is there still is danger in the future, especially with the UK government pledging to reduce grants to national museums by 15% by 2015.
Bloomberg reports
To read the full article, click HERE.As companies recover, he said, “they’re going to face a whirlwind of requests” from universities and other publicly funded institutions facing government cuts. “We’re looking at a very dangerous time for the arts,” said Tweedy.
The U.K. government announced in October that grants to national museums would be cut 15 percent by 2015, and grants to Arts Council England -- which subsidizes performing-arts institutions and some museums in England -- by 29 percent.
The Arts & Business annual survey showed that a total of 658 million pounds were given by companies, individuals, and trusts and foundations to the arts in 2009-10, down 3 percent in real terms from 2008-9.
Donations by individuals -- who still provide the largest proportion of arts spending, or 55 percent -- fell 4 percent to 359 million pounds.
Trusts and foundations were the only category posting an increase: Their cultural giving rose 11 percent to 155 million pounds, the survey showed.
Arts & Business itself has seen its 3.8 million pound grant from the Arts Council halved to 1.9 million pounds in 2011-12, then eliminated altogether.
COMING SOON! The Journal of Advanced Appraisal Studies - 2011.
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