Thursday, November 1, 2012

Art underlines its potential as a bankable and liquid asset class

An elaborate study by art research agency Artprice throws light on both macro and micro analysis to give us an insight into the evolution of the contemporary art world for its better understanding. The researchers dissect the significant market developments throughout the year. Artprice is known for its expertise as to execute the following tasks: 
  • Keep track of the real market value with our unique databank of 27 million auction prices and indices, detailed auction results and 500,000 artists.
  • Find your artists in upcoming auctions covering 4,500 auction houses worldwide.
  • Access to our archives of 290,000 fine art auction sales.
  • Detect the emerging artists through their biographies and background.
  • Make the right decision with our unique artists' reports art market key figures & trends country by country.
  • Thousands of signatures, monograms and symbols.
  • The mechanisms and secrets of the art auction market revealed by our press agency.
  • Artprice Indicator gives an access to indicative values for an artwork in different years.
  • Artprice Knowledge is a unique database of hundreds of millions of artist search sessions enabling artists to be grouped according to the tastes of art buyers and collectors.
Their latest document spread over 140 pages is published in 5 languages. According to Artprice CEO and founder Thierry Ehrmann, despite the current economic crisis the international market for contemporary art has achieved its third best performance ever just behind the peak of the bubble 2007-08 (€ 976.9 m) thanks to the thriving museum industry that has facilitated awareness and spread of art in the backdrop of looming recession.

The latest one year period has been equally impressive with bulimic rush leading to over 41,000 contemporary artworks being acquired across the world – almost four times more than the figure at the beginning of the new millennium! They have fetched over € 915 m in total auction turnover (excluding fees) – nearly ten times more than the yearly turnover figures less than a decade before, clearly underlining its potential as a bankable and liquid asset class.

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