US & European Art Market Confidence Survey – July 2015
|Report Type||Confidence Survey|
Despite lower confidence in 2014, and uncertainty about whether the sales growth rate was sustainable, the recent survey shows art market confidence again on the rise, with any nervousness quelled by the bullish auction market and record prices in the last 6 months.
The ArtTactic US & European Art Market Confidence Indicator is up 12.4% since the last reading in January 2015, and is currently standing at 73, which implies that the majority of our experts maintain a positive outlook for the next 6 months (any reading above 50).
Despite the potential prospect of a Greek default, the art market doesn’t seem overly concerned by this risk at the moment. However, it is important to note that the majority of the respondents are citing ‘a deteriorating world economy’ or a ‘major economic event’ as one of the biggest risk factors in today’s art market, and hence a Greek exit from the Euro and the unknown contagion effect, could have an impact on the confidence in the art market in the future.
Report includes more than 90 Artist Short- and Long-term Confidence Indicators.