In January 2016, art market confidence took a 38% plunge. This was on the back of increasing uncertainty about the global economic outlook, together with signs of a slowing auction market. However, the recent survey findings suggest that confidence among experts has recovered some of its losses. The ArtTactic Art Market Confidence Indicator up 21% in the last 6 months to a reading of 55 (still below 73 in June 2015).

The survey results suggest that the market experts are more or less evenly split.  Some experts think that we will see a positive development in the next 6 months while other expert expect a further decline in the art market.

On the positive side, experts’ view on the economy is considerably more positive now than 6 months ago.  The economic outlook for the coming 6 months remains uncertain, with no clear consensus either way.  Uncertainty around the UK’s EU referendum as well as slower growth in the US, might have played a role in this.

The confidence in the gallery and dealer market also shows signs of recovery after a 33% drop in confidence in January 2016.  The recent Primary Art Market Confidence Indicator shows an increase of …