Optimism in Art Market

Some useful information from ART PRICE : The print market: some useful tips [Jan 10] Prints are an important element of the art market representing between 10 and 17% of global auction transactions and between 1.6 and 3.6% of global fine art auction revenue over the last decade. The highs and lows of contemporary artists [ 19 Jan ] As expected, auction revenue figures for contemporary artists in 2009 contracted quite substantially (divided by 14 in the case of Damien Hirst, and by 3 in the case of Jeff Koons). However, for all that, the market is not in bad condition. The loss of the speculative element has essentially allowed prices to settle back to 2004 levels. Contemporary Art sales in London [ 01 Feb ] Christie’s and Sotheby’s apparent price optimism for their Impressionist and Modern sales on 2 and 3 February 2010 is equally visible in the catalogues for their Contemporary Art sales on 10 and 11 February. The two majors are expecting a combined total of £69m from their evening sales, a figure which would represent a 54% more than February 2009 high estimate.