Art Market Outlook 2014
|Report Type||Market Report|
A 10-year old bubble about to become even bigger
Last year’s ArtTactic Outlook had a strong positive bias, with the large majority of the collectors polled in January 2013 expressing a positive year ahead. Although not all markets monitored by ArtTactic experienced the same level of growth, most markets, except the Latin American art market, experienced higher auction sales last year (see Trend table next page).
Auction sales reached new heights in 2013 on the back of an increase in the Post-war & Contemporary and a recovery in the Chinese art market. Auction sales of Old Masters, Impressionist & Modern, Chinese and Post-War & Contemporary art raised $7.67 billion* in 2013, or 16% higher than in 2012.
Recent art market polls conducted by ArtTactic suggest that the positive trend will continue this year, albeit for some markets at a slower rate than last year.
* Based on Sotheby’s and Christie’s