The us was the key centre worldwide for sales of post war and contemporary art with a share of 46% of the market by value. This is our annual tax market report and update for the australian tax community where we discuss the trends and surprises for 2015 and make predictions on. Art dealer finance written by anders petterson of arttactic. May 22, 2015 it may take a while to rebuild market confidence, with the closing of the discount to quoted peers currently trading on 2.
Worth clients that have the means to buy art and luxury items, a large. The economist rachel pownall is having a busy year. Us remains key centre of sales of postwar and contemporary art, while china and us share top spots in the market for modern art. The latest report from the european fine art federation tefaf reported a global fall in sales of 7% and the volume of sales down by 2% in 2015. For two consecutive years, the segments total turnover contracted until the second half of 2016 when it lost 10%. The reports new author uses a different methodology. In such a large global market, worth just over 51 billion in 2014, according to the tefaf art market report 2015, roubini points out that private banks and.
Find out about the new 2015 tefaf art market report which tracks the global art market over the past 12 months. Report of the 2015 communications sales and use tax study. Most glaring of all, the top 1,530 lots sold at auction in 2014 represent 48 per cent of the value of the fine art market, but less than 0. The contemporary art market 2014 2015 the contemporary art market report 2015 next page artprice is listed on eurolist by euronext paris. A 2015 mckinsey survey of the digital luxury landscape states that of the ultra high net. A closer look at tefafs latest annual report reveals that it is regular folk who sustain the global art market, not multimillionaires. Art radar brings you some highlights from the report. Widely regarded as the most comprehensive summary of the art market, the annual tefaf report offers collectors, professionals, and art lovers a global perspective on economic trends in the market. Tefafs annual report reassesses the value of the art market. This years tefaf art market report reveals recordbreaking sales of usd53. Private bank and family office survey findings 60 artsecured lending 78.
The report is looking at the market from the perspective of both consumer and provider, to. Tefaf art market report 2016 download ebook pdf, epub. The european art market in 2002, a survey, is prepared by kusin and company and published by tefaf with the support of the british art market federation, cinoa, the syndicat national des antiquaires and the international music and art foundation. Market share of china in the global art and antique market 20062016 average auction prices for fine art in selected countries 2015 bestselling fine artists worldwide in 2014. In a thriving international art business, there was a. Secondly, as in brazil, the global integration of the indian art market is severely hindered by tax structures, import tariffs, and customs duties, which inhibit foreign galleries from entering the market. Indicators for mainland china 2000 2015 1 table 4h annual. Tefaf2015 in 2014 the global art market reached its highest everrecorded level, a total of just over 51 billion. Germany and switzerland both held a two percent share of the global art market in 2015, double that of italy and.
The closely watched tefaf art market report is widely considered one of the most comprehensive sources of information for worldwide auction sales. The contemporary art market report 2015 next page artprice is listed on eurolist by euronext paris euroclear. The 10 most important takeaways from the 2016 tefaf art. The report includes a summary of crossborder flows of art around the world, focusing on key centres in europe, the us and china in 201415 and examines any regulatory changes or other issues that have affected the. It cannot be guaranteed that the objects currently shown on the website will pass tefaf vetting which takes place shortly prior to the opening of the fair. As tefaf celebrates 30 years, our annual art market report examines the dynamics that shaped the art world in 2016, and gives insight into trends ahead in 2017 enter overall the art market flourished in 2016, shifting but not shrinking despite a fall in auction sales in the u. This site is like a library, use search box in the widget to get ebook that you want. Clare mcandrew at tefaf on march 11th 2016 analyses the global art market in 2015.
Featuring over 275 prestigious dealers from 20 countries, tefaf maastricht is a showcase for the finest art works currently on the market. This report presents an analysis of the key trends in the art market in 2010, highlighting its significant recovery in 2010, particularly in china and the us. Commissioned by the european fine art foundation, organisers of the european fine art fair tefaf, the report is researched, compiled and written by dr clare mcandrew, a cultural. Tefaf report shows 7% fall in global art sales as chinese market takes hit. As in previous years, bmw group, as partner, will be involved in a number of ways throughout the fair. Tefaf art market report 2018 art dealer finance arttactic. Published since 2000, the tefaf art market report promised a global assessment of economic trends in the market and billed itself as the most comprehensive summary of its kind. Rachell pownall will be the first tefaf professor of art market related economics and author of the 2017 tefaf art market report.
Tefaf art market report 2015 reveals an alltime high of usd53. The chinese art market is continuing its restructuring which started from 2015. Last year johnny van haeften decided to step down from the ec to. Art basels first art market report financial times. This is our annual tax market report and update for the australian tax community where we discuss the trends and surprises for 2015 and make predictions. Tefaf drops comprehensive art market report the art. The art basel and ubs global art market report is published on march 22. The authors thank their colleague yael weitz for her invaluable assistance in preparing this article.
Artf a company of groupe serveur terms and conditions of. In her first year as the author of the tefaf global art market report, rachel pownall singlehandedly sliced off a third of the value of the global art market. Design and artists copyright society 2015 financial. New icts may support interconnectivity and pave the way to a borderless art world, but they have not, so far, been able to substitute the physical art event. Tefaf maastricht is widely regarded as the worlds premier fair for fine art, antiques and design. After two years of declining sales, the global market rose 52% to reach a total of 43 billion. The report will be released on friday but you can download a copy here. How italys moribund market makes miart one of europes. How italys moribund market makes miart one of europes most. Distribution of the global art market in 2015, by country graph. Strong growth of the global art market the global art market reached a total of 51 billion in 2014, an increase of 7 percent since 20 and the highest level recorded. Report of the 2015 communications sales and use tax study section i, overview of the issues department of taxation 2 december 11, 2015 share of total revenues received from the following taxes and fees in fiscal year 2006 from local tax rates adopted on or before january 1, 2006. Postbrexit passporting in the high value art market. The center for art law does not provide legal representation.
The tefaf report which is actually titled the international art market in 2011, observations on the art trade over 25 years has additional chapters, which relate the history of the art market since 1975. Number of businesses operating in the global art and antiques market in 2015. Study finds art market grossed 51 billion in 2014, the highest total ever. Sales of contemporary art have returned to a growth path. Commissioned by the european fine art foundation, organisers of the european fine art fair tefaf, the report is researched, compiled and written by dr clare mcandrew, a cultural economist specialising in the fine and.
Transactions of post war and contemporary art represented the largest share of global art market by value in 2015. Tefaf report shows 7% fall in global art sales as chinese. The united kingdom fared better than the chinese art market, whose market share fell by 3% due to economic contraction and poor sales. After two years of declining sales, the global market rose. Key findings of the tefaf art market report 2016 luxembourg. Private bank and family office survey findings 60 art secured lending 78. Tefaf art market report 20 the global art market, with a focus on china and brazil prepared by dr. The report is looking at the market from the perspective of both consumer and provider, to provide a better understanding of this highly opaque aspect of the art industry, the report will explore how dealers source capital in an historically illiquid market, examine the solutions and. Indicators for brazil 20002015 181 figure 5a estimated total sales in the art market in brazil. Tefaf revive the fight over european art market taxes. Tefaf drops comprehensive art market report the art newspaper.
The global art market was dominated by the three major art markets of the us 39%, china 22% and the uk 22%, while by sector, post war and contemporary art continued to lead with 48% of all fine art auction sales with sales of modern art accounting for 28% of the global fine art auction market. Mar 11, 2015 art fairs world art market passes 51 billion says 2015 tefaf art market report. In a thriving international art business, there was a marked shift to private transactions. Table 6g key economic indicators for hong kong 20002015. The 28th edition of tefaf maastricht, the most important fair for art and antiques worldwide, will take place march 22, 2015. Sales volume of the global art market from 2004 to 2015 in millions. Mar 11, 2002 the european art market in 2002, a survey, is prepared by kusin and company and published by tefaf with the support of the british art market federation, cinoa, the syndicat national des antiquaires and the international music and art foundation. The art community has remained staunchly wary of the internet, fearing that it may lead to a loss of aura for art and a market devoid of personal relationships velthuis 2014. Click download or read online button to get tefaf art market report 2016 book now. Chinas ministry of commerce, the report says, is aiming for a target of 18 percent annual growth from 2011 to 2015. Asia now has the largest share of the global auction market at 40.
Postbrexit passporting in the high value art market 12. For a stable, smoothly functioning art market, however, a flourishing art world is sine qua non. This statistic shows the sales volume of the global art market from 2004 to 2015. Such numbers present the disproportional weighting of the market in sharp relief, forming an. On the whole, the contemporary art market is substantially profitable over the medium and long terms.
Clare mcandrew, who wrote the tefaf report for years, was replaced by rachel pownall in 2017. How italys moribund market makes miart one of europes most exciting fairs artsy editorial mar 31st, 2015 2. According to the latest tefaf art market report released by the european. As tefaf celebrates 30 years, our annual art market report examines the dynamics that shaped the art world in 2016, and gives insight into trends ahead in 2017.
Taxation market report 2015 2015 has been the busiest year we have seen in the australian tax industry since 2010 with a record number of new tax roles signed off across multiple industries. Please note that the content on the website may be used for press purposes when covering the tefaf art fair. Information available on this website is purely for education purposes and should not be construed as legal advice. Approached last summer by the tefaf art fair to take on its annual art market report.