2017 ART MARKET UPDATE
ALPHONSO ACOSTA "Manufactured Crisis"
When we talk about the art market we are really talking about the economy, the global economy. Those terms are technically interchangeable. Art is a luxury, so when people do well they buy luxury items for their homes like art, automobiles, furniture, and really any collectible item.
Sotheby's reported a leveling off finally in April 2016 but at the same time claim the biggest market boom ever that same year. Fairs claim record attendance around the world from Barcelona to New York. It is definitely an exciting time for art and art sales.
We will continue to update our readers on who is collectible and who has slumped. So go out and get your fingers wet and start buying some art.
ARTCOWO PRESS 2017 ©
ART MARKET 2015
Examination and Discovery
BY ArtCoWo Press © 9 - 17 - 15
The 2015 Art Market has been quite active and not slipping at the moment. Sotheby's reports that the big winners are contemporary art works, contemporary Blue Chip Artists in particular keep bringing home the bacon. One would think that traditional art, such as El Greco, would be claiming the highest prices but it seems that people want to stay in the modern world. Art investing returns are nearly a hundred times larger than that of the stock and real estate market.
The greatest thing about these works is that many of these artists are still alive. With Celebrities such as Brad Pitt picking up a Neo Rauch for a cool million and some high priced newbies to the auction world claiming prices in the several hundred thousand range, the 2015 Art Market doesn't look as though it is slumping. Art, because of its illiquid characteristics doesn't lend itself to every guy with a bank account investing, as in stocks, which can be dumped at a drop of a hat seem more like sound investment strategies. Still, even if your a new art collector looking to save for an Art Investment Fund, now is the best time, as prices for notable works are still reasonable.
Art functions similarly to other comparable markets but it can grow beyond real estate and other assets. It's illiquid characteristics depend on how famous the art is or isn't. Artists that are not very famous do not fair well at auction houses however there are always sleeper artists that surprise even the worst critics. The public is fickle, they either grab on or ignore at whim and that effects your purchases and reselling of items when it comes time to part with even master works. Artists that become "tainted" are artists that do not sell at auction time, which can have a dramatic effect on your works, if you have collected the same artist. Bringing an artist in to soon to an auction house can be the kiss of death. Building an artists name with sales, exhibits, write-ups, and other media are more intelligent means then throwing new artists to the auction wolves to soon. Banks offer loans based on full collections of art that ranges over ten million giving some collectors a liquid luxury over smaller time collectors. A great buzz around an art scene in particular New York, where artists are born every minute are tell tale signs. Strolling from one gallery to the next and noticing the same artist on the wall or a Gallery claiming these artists are in their stable because they just own a few, are good signs that artist is worth a few pennies.
And yet as we pummel through 2015 the art bubble shows no signs of bursting especially for Post-War Art. Sotheby's continues to make headway while smaller dealers complain they cannot compete with that end of the Blue-Chip market and nor they should even try. Stay in your realm! Sotheby's claiming with every passing auction night bigger and bigger sales reaching in the several hundred million range. To the outsider it seems like a fairytale. However if their comes a time when this bubble does implode, art will suffer the most, as it is a luxury. (Note Sotheby's sells other collectables besides fine art.) But that does not mean that the richest will not claim pieces they have sought for years to add to their collection or Museums making clean sweeps of what's available on that future market. Old Master works are more affordable leaving collectors who are seeking to build museum collections an opportunity above modern fans. The good thing about those bubbles having their end point, as in 2008, the common collector, just as in real estate, has an opportunity otherwise impossible in the current economy. But we are not to the max air this bubble can fill so those pieces you had in mind still may be attainable..
U.S. AND EUROPE: Increased Growth
CHINA: Less confident
LATIN AMERICA: Increased Interest
INDIA: Decreased Interest
The information printed here was collected from numerous sources and any projections should not be used to make decisions to purchase work soley for the purpose of making profit. ARTCOLLECTORWORLD is not responsible for loss of income due to purchasing work for investment purposes or otherwise.
Neo Rauch purchased by Brad Pitt
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