The 10 most important takeaways from the 2016 tefaf art. Wednesday march 9 marks the release of the tefaf art market report 2016, compiled each year by dublinbased research and consulting firm arts economics, founded by cultural economist clare mcandrew. 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. Please note that the content on the website may be used for press purposes when covering the tefaf art fair. 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. 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.
This growth trend was also evident in the uk which grew 17% in 2014, increased its own market. The tefaf art market report 2015 is a wide ranging report that examines the global art market in 2014 in detail, and also looks at individual sectors within the market, changing patterns of global wealth and art collecting, the growth of art fairs and online sales and finally the economic impact of the art market. Tefaf maastricht stand 445, march 14, 2014 march 23, 2014 kasmin gallery is committed to supporting an ongoing intellectual and visual dialogue with influential modern and contemporary artists, representing several generations of internationally recognized artists working in a variety of media. Patronage is the support, encouragement, privilege, or financial aid that an individual or organization gives to another. Tefaf maastricht is widely regarded as the worlds premier fair for fine art, antiques and design. However, prathams program statistics reflect data from the 2014 2015 indian school year. The 10day fair attracts about 75,000 visitors and is considered one of the worlds leading art fairs. Tefaf art market report 2016 download ebook pdf, epub.
For the sake of consistency, values in that report have been converted into dollars for the purposes of this report. The global art market with a focus on the us and china. This report is not an attempt to provide a complete global overview of art patronage and art philanthropy, but hopefully highlights some of the areas where sharing of data, information and best practice can be helpful. This increasingly diverse base helps to explain why the art market recovered so quickly following the gfc, says dr clare mcandrew, author of the tefaf report. After the london auctions, we went to maastricht for the opening day of tefaf maastricht. Tefaf art market report 20 the global art market, with a focus on china and brazil prepared by dr. Typically published on an annual basis, tefaf s annual art market report provides an opportunity to shine a light onto an area of the market that is underresearched or in the process of change. Private sales averaged 17 % of the turnover of the toptier houses, up 2 % on 2011, and only 5 % for the second tier see 20 tefaf report. This report presents an analysis of the key trends in the global art market in 20, focusing on the worlds largest art market the us and its fastest growing rival in recent years, china. In addition to the tefaf art market report released during tefaf maastricht, this years special focus provides insight into structural developments across the art ecommerce industry. The us remains the driving force, but even china, where confidence had been weak in the early months, recovered strongly over the final months of 20. Tefaf is an annual art, antiques and design fair, organized by the european fine art foundation in the mecc in maastricht, netherlands. Click download or read online button to get tefaf art market report 2016 book now. From ancient mesopotamian rulers to the rockefellers, patrons of the arts have been a facet throughout art history.
It is our thirtieth fair in maastricht, an important milestone we hope to. Based on the findings of this report, the wealth management industry is clearly taking a more strategic view on art as an asset class and how it might be used as a tool to build stronger and deeper relationships with clients, in an increasingly competitive marketplace. Arts economics 2014 with data from artnet and amma2. 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. This report presents an analysis of the key trends in the global art. This annual report covers the activities of pratham usa during the period of january 1, 2014 to december 31, 2014. The notoriously opaque art market is difficult to quantify, so figures compiled by art economist clare mcandrew are always pounced as a. The tefaf report also provides an estimate of the overall market sales, including galleries. Looking at the recent figures in tefafs latest report, the global art market in 2014 has reached its highest everrecorded level a total value of 51 billion worldwide and a 7% yearonyear increase from the 2007 prerecession level. Dr clare mcandrew presenting the art market report. However, when her methodology is applied to 2015, the market. The value and volume of sales peaked in 2007 and 2014.
Interim chairman tefaf maastricht tefaf maastricht, the worlds leading art fair, is renowned for its commitment to excellence, exper tise and elegance. 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. What does tefaf 2016 art market report tell us about the global art. Tefaf estimates the value of the 2014 global art market at 51 billion. The global art market reached a total of just over 51 billion in 2014, an increase of 7% yearonyear and its highest ever recorded level. We surveyed 53 private banks up from 35 in 2014 mainly in europe and 14 family offices mainly in the united states same number as in 2014.
Com tefaf art market report 20 the global art market, with a focus on china and brazil. A closer look at tefafs latest annual report reveals that it is regular folk who sustain the global art market, not multimillionaires. Tefaf art market report 2015 reveals an alltime high of usd53. The european fine art foundation tefaf released the 2016 edition of its annual report on the state of the art market on wednesday. Since 2002 the tefaf has been involved with providing a program of independent research into the art market. Commissioned by the european fine art foundation, organisers of the. This is reflected in the magnificent range of rare works of art that are offered for sale at the fair, which runs from 14 to 23 march 2014 in the mecc maastricht, and in the number of. The tefaf report estimates that online transactions have reached around 5% of the total market. The closely watched tefaf art market report is widely considered one of the most comprehensive sources of information for worldwide auction sales. Annual tefaf report says recession is finally over observer. The hiscox online art trade report 2014 2 twelve months is a long time in todays art world, and there have been significant developments since our first report from the entry of amazon art into the market, to christies increasing their number of onlineonly auctions from seven in 2012 to 49 last year. Clare mcandrew, who wrote the tefaf report for years, was replaced by rachel pownall in 2017.
As tefaf celebrates 30 years, in this years annual tefaf art market report we take an insightful look into the figures behind the analysis made in previous years to get to grips with the dynamics that are shaping and influencing the world art market in 2016, and give some insight into the trends ahead for 2017. Tefaf art market report 2014 the global art market, with a focus on the us and china prepared by dr. Tefaf since 2002 tefaf has been involved with providing a program of independent research into the art market. The tefaf art market report 2014 the global art market with a focus on the us and china. Trade is increasingly crossborder, benefiting the larger names with international reach. These were originally reported in euros and the changes in value and market shares in table 1 and figure 2 are measured in euro terms. The art market in 2014 broke all existing records, according to the annual tefaf art market report by art economics founder clare mcandrew, which was released today. Clare mcandrew, the report confirms suspicions of a downturn in the international art market. Tefaf art market report 2015, art economics i amma art market monitor of.
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