US & European Art Market Confidence Survey – January 2014

No. Pages10
ResearchersAnders Petterson
Report TypeConfidence Survey

The US and European Art Market Confidence 35% higher than 12 months ago

Positive outlook: Recent readings from the ArtTactic US & European Contemporary Art Market Confidence survey indicates that experts are gaining further confidence in the Post-War and Contemporary art market after a record year in 2013.

Expert confidence at same level as in May 2007: The US and European Art Market Confidence Indicator is now standing 35% higher than January 2013. The result is the highest reading since May 2007, and sets a positive tone for the Contemporary art market in the next 6 months.

Middle-market: Increasing confidence in the middle-market as experts are seeing increasing opportunities in the $100-$500k and the $500k – $1 million segment. 

Market Direction: A majority, 54% of the experts believe the market will go up (down from 69% in June 2013). A larger number of the experts, up from 31% in June 2013 to 46% in January 2014, believe that the contemporary art market will remain flat in the next 6 months.

Risk of speculation: The Speculation Barometer has increased by 4%, currently showing a reading of 6.9. The current reading is 11% above the historic average. A total of 60% of the respondents (against 55% six months ago), rated the speculation level at 7 or above (on a scale from 1 to 10, where 1 is very low speculation and 10 is very high speculation). Experts remain concerned that short-term investors and speculators are boosting art prices in the current market.

Top 5 Short-term Contemporary Artist Confidence Ranking: Gerhard Richter,Christopher Wool, Andreas Gursky,Jeff Koons and Peter Doig

Top 5 Short-term Post-war Artist Confidence Ranking: Francis Bacon, Jean-Michel Basquiat, Mark Rothko, Jackson Pollock and Louise Bourgeois.