ArtMarketConfidence_February2023 (Cover)

Data Tools

Art Market Confidence Indicator - February 2023PNG CSV
Risk & Speculation Barometer - February 2023PNG CSV
Top Established Artist Confidence Ranking - February 2023PNG CSV
Top On-the-Rise Artist Confidence Ranking - February 2023PNG CSV

Contemporary Art Market Confidence Report – February 2023

  • Analyst: Lindsay Dewar
  • Pages: 18
  • Access: Analyst Pro

Contemporary art market confidence deteriorates further, but more optimism about the second half of 2023

After a sharp fall in the ArtTactic Confidence Indicator in July 2022 to 42 (down from 75 in February 2022), the majority of survey respondents continue to take a negative view on the contemporary art market in the first half of 2023. However, the rate of decline has been tapering off, which could suggest we are reaching a bottom.

The deteriorating global economy and fear of a widening conflict in Ukraine continues to weigh in on the economic outlook over the coming 6 months. Higher inflation, rising interest rates and stagnant growth, has negatively impacted the Economic component of the ArtTactic Art Market Confidence Indicator. The Indicator fell from 54 in February 2022 to 17 in July 2022, but has stabilised at 18 in February 2023, as more respondents believe the economic situation will stabilise or improve in the second half of 2023.

About this report:

The ArtTactic Art Market Confidence Indicator was launched in May 2005 and is now in its 37th edition. The survey is modelled on a similar methodology to the CEO confidence Survey that was launched in 1976 by the Conference Board in the US. We believe that the opinions of a small group of select ‘art insiders’; collectors, auction houses, advisors and other art professionals provide a valuable insight into the perception about the current and future state of the art market.

Artists included in this Confidence Survey:

Established Artists

Kai Althoff, John Baldessari, Miquel Barcelo, Matthew Barney, Georg Baselitz, Mark Bradford, Cecily Brown, Glenn Brown, Maurizio Cattelan, Jake & Dinos Chapman , George Condo, Peter Doig, Marlene Dumas, Olafur Eliasson, Fischli & Weiss, Urs Fisher, Gilbert & George, Robert Gober, Andreas Gursky, Damien Hirst, Anish Kapoor, On Kawara, Mike Kelley, William Kentridge, Anselm Kiefer, Jeff Koons, Yayoi Kusama, Paul McCarthy, Vik Muniz, Takashi Murakami, Yoshitomo Nara, Shirin Neshat, Chris Ofili, Elisabeth Peyton , Sigmar Polke, Richard Prince, Neo Rauch, Gerhard Richter, Thomas Ruff, David Salle, Sean Scully, Cindy Sherman, Rudolf Stingel, Thomas Struth, Mark Tansey, Rosemarie Trockel, Luc Tuymans, Bill Viola, Jeff Wall, Franz West, Rachel Whiteread and Christopher Wool

On-the-Rise Artists

Nina Chanel Abney , Njideka Akunyili Crosby, Harold Ancart, Cory Arcangel, Tauba Auerbach, Hernan Bas, Carol Bove, Joe Bradley, André Butzer, Dan Colen, Aaron Garber-Maikovska, Adrian Ghenie, Mark Grotjahn, Wade Guyton, Thomas Houseago, Shara Hughes , Rashid Johnson, Nate Lowman, Julie Mehrethu, Oscar Murillo, David Ostrowski, Adam Pendleton, Seth Price, Sterling Ruby, Dana Schutz, Claire Tabouret, Salman Toor, Danh Vo, Brent Wadden, Jonas Wood and Lynette Yiadom-Boakye