US & European Art Market Confidence Survey

June 2009   (17 pages)

Confidence on the rise:  After an 81% drop in the ArtTactic Art Market Confidence Indicator in December 2008, the recent survey from June 2009, shows that confidence is cautiously coming back again.

Increased optimism about the 6-month art market outlook: ArtTactic’s Expectation Indicator currently stands at 46% above the Current Indicator, although the majority of respondents still have a short term negative outlook.

Speculation risk abates as market contracts: With buyers becoming increasingly selective, and with auction liquidity down 70-80%, there is little room for short-term speculation in the current art market.

Market recovery could take place earlier than expected:  64% believing the contemporary art market could rebound in 2010/11. 

Price correction loses momentum:  A majority (74%) of the survey sample believe the art market would adjust another 10-20% or less, indicating that prices could be about to level out.

ArtTactic provides an update on the Artist Survival Rating to assess the long-term impact of the art market downturn on individual artist markets.

Artists Confidence Indicators & Survival Ratings included in the report:

Contemporary Artists: Andreas Gursky, Bill Viola, Cindy Sherman, Damien Hirst, Elisabeth Peyton, Franz Ackermann, Glenn Brown, Jake & Dinos Chapmans, Jeff Koons, Jeff Wall, Kai Althoff, Luc Tuymans, Marlene Dumas, Matthew Barney, Maurizio Cattelan, Mike Kelley, Neo Rauch, Olafur Eliasson, Paul McCarthy, Peter Doig, Richard Prince, Rosemarie Trockel, Takashi Murakami, William Kentridge, John Baldessari, David Salle, Fischli & Weiss, Cecily Brown, George Condo, Franz West, Gerhard Richter, Gilbert & George, Anish Kapoor, Vik Muniz, Sol Le Witt, Dan Flavin, Ellsworth Kelly, Robert Rauschenberg, Luican Freud, Keith Haring, Jean-Michel Basquiat, Piero Manzoni, Cy Twombly, Yves Klein, Donald Judd, Anselm Kiefer, Willem de Kooning, Mark Rothko, Tom Wesselmann, Joan Mitchell, Roy Lichtenstein, Philip Guston, Robert Smithson, Francis Bacon, John Chamberlain, Clyfford Still, Andy Warhol, Hans Hofmann, Claes Oldenburg, Joseph Buys, Alexander Calder, Lee Krasner, Jean Dubuffet, George Segal, Robert Indiana