The Antiques Trade Gazette is reporting from a survey of the Society of London Art Dealers that sales are increasing, but the pace is slow. The survey reveals stronger gallery based activity, strength in dealer exhibitions as well as increased gallery staffing.
The ATG reports on the SLAD survey
Source: Antiques Trade GazetteBusiness is continuing to improve but the rate of recovery has slowed among London’s fine art dealers, their trade association’s latest survey reveals.
Other key findings in the Society of London Art Dealers' (SLAD) poll show the continuing strength of dealer exhibitions, a strong return to gallery-based dealing, a shift in influence between leading fairs and a significant uplift in the number of staff dealers employ.
Set against these positives has been the negative effects of the Artist's Resale Right on business: far more dealers say they are now affected by ARR, with 35% of respondents putting the administrative costs - excluding the levy itself - at more than £30 per transaction.
The survey for 2012, which is carried out every two years and this time secured responses from around half of the society's 130 members, reported 77% (86% in the 2010 survey) of them as enjoying the same or better trade over the year than they had expected, while 23% (14%) said it was worse.
Net sales have also become more stable, with 41% (52%) reporting an increase and 31% (26%) a decrease. The proportion of members trading in a turnover range of £1m-5m has also remained stable at 52% (53%). However, there has been a fall in pre-tax profits, with 56% (44%) reporting around the same results or a fall-off.
One of the most significant changes has been in the principal trading areas: 36% (30%) now deal in Old Masters and British art to 1850, while only 34% (39%) now deal in Impressionist and Modern works.
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