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This is ArtTactic’s monthly art market newsletter. Rawfacts is about the factual aspect of the art market, and includes art market indicators, survey results, rankings, auction analysis, relative value opportunities, emerging market watch and a number of art investment related topics.
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Rawfacts September 2009 Issue 11-09-2009 |
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| Click Here to read the full pdf newsletter (Rawfacts Subscription Required) |
| The summer is over and a new art market season is about to begin. In this issue we take a closer look at the outlook for the autumn, and what we might expect. |
OpinonA Fresh Start to the Autumn Season: The art market ended its spring and summer season on a slightly more optimistic note than many had predicted. Sales in Hong Kong, New York and London were showing signs of a market bottoming out. Both price levels and volumes were significantly up from winter auctions in February and March, although volume levels were down 70-80% from Summer 2008.
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Market SentimentGreen shoots emerge in the global art market: After an 81% drop in the ArtTactic Art Market Confidence Indicator in December 2008, the recent survey from June 2009, shows that confidence is gradually coming back again. The current Confidence Indicator stands at 28, up from 11 in December 2008. |
Auction AnalysisGlobal art auction markets: The last round of auctions in New York, Hong Kong and London in May and June 2009, showed clear signs of a global art market that is recovering from a severe and rapid correction. Despite the total value of the recent sales, being anywhere between 70% and 80% lower than May and June 2008, there are signs that the auction houses’ strategy of smaller sales, with significantly reduced estimates, has started to pay off. |
Relative ValueMiwa Yanagi: Videos and photographs by Miwa Yanagi have been collected by a number of prominent international institutions such as Los Angeles County Museum of Art (LACMA) and the Fukuoka Art Museum. Recently, Miwa Yanagi was selected to represent Japan at the 53rd Venice Biennale, a further recognition of her artistic status.
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Emerging MarketsThe Japanese Contemporary Art Market: Despite the downturn, the Japanese art market remains robust. Recent sales in Hong Kong in May, showed that the appetite for Japanese contemporary art has strengthened. The market share (US$) of Japanese contemporary art in Christie’s Asian sale in Hong Kong has increased from 11% in November 2007 to 19% in May 2009. |
Art InvestmentsSotheby’s downgraded by Moody’s: Last week, Moody’s followed suit by cutting its debt rating to Ba3 from Ba2. Moody’s downgraded the auction house’s debt securities because of the current slump in the auction market. |
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Rawfacts Newsletter Archive |
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June 2009 Issue - 09-06-2009 |
| The art market is starting to show signs of green shoots. Hong Kong auctions in May came in above expectations, increasing the possibility of a swifter recovery than initially anticipated. This... |
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May 2009 Issue - 12-05-2009 |
| New York contemporary auctions this week will give the art market an indication of how well it is coping in the downturn. Mixed results from the Modern and Impressionist sales last... |
| View a summary of this Newsletter |
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April 2009 Issue - 06-04-2009 |
| The art market environment continues to be very challenging. The Rawfacts April 2009 issue, includes market analysis of the current Media Sentiment, Southeast Asian Auctions in Hong Kong, Relative... |
| View a summary of this Newsletter |
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March 2009 Issue - 05-03-2009 |
| The Yves Saint Laurent sale sent a re-assuring signal to the market, and shows that there are still buyers in the market who are willing, and have the ability to put significant amounts of money... |
| View a summary of this Newsletter |
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February 2009 Issue - 02-02-2009 |
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This month’s contemporary auctions reflect the new reality. The market has shifted from a seller’s to a buyer’s market, and the auction houses have been toning down the sales so... |
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December 2008 - 11-12-2008 |
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The auction houses’ sudden fall from grace, will force a new order within the contemporary art market. The latest results from contemporary... |
| View a summary of this Newsletter |
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November 2008 - 07-11-2008 |
| After half a decade of unprecedented growth, the art market has been brought back to earth. Recent auction results from London’s contemporary auctions last month, to the current Modern &... |
| View a summary of this Newsletter |
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September/October 2008 - 24-09-2008 |
| After a two months summer holiday, the art market started on a high note with the success of the Damien Hirst sale at Sotheby's in London. The lower value mid-season sales in... |
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July/August 2008 Issue - 25-07-2008 |
| So far, only a handful of names have been associated with recent record purchases. Judging by the bidding patterns, one has to question how deep the pool is at the high end. Rawfacts takes a closer... |
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June 2008 Issue - 11-06-2008 |
| The contemporary art market seem to defy gravity, and the May auctions performed generally in line with expectations. One thing is clear, the art market has polarised around the top-end, which... |
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