Art Price puts out annual market report

April 5, 2007 · Print This Article

Art Price the world leader in art market data collection and services have released their 2006 year in review for sales and trends. You can read it in PDF format here.

You can read a short summary below the fold.

Summary

It has been an unprecidented year for both sale prices and volume.
Global Price Index has gotten to only 5% below the 1990 peak.
US prices though have climbed to 32% over the 1990 peak.

Growth is not even across the board through, sales of the top 50% in terms of price have grown at 3 times the rate of the bottom half. But volatility and price loss for the top half can be as much as 57% where as the bottom half has shown a across the board growth of around 30%.

The United States has continued to solidify its dominance of the world market with a 3% growth to 45.95% of all sales. As opposed to Europe which has had a 10% growth stretched over a 6 year period.
The shrinking European market has been solidifed in the hands of England which has posted a growth of 6% this year alone.
France is rebounding but is still far below its 1990 peak.

The elephant in the room is still China (with support from India) which has continued to have record sales year after year and with American & British investment pouring in to auction houses and galleries the next 10 years in Hong Kong is looking quite strong.

The top art movement in terms of % Growth for the least 10 years has been the Cologne Group which has had a growth of 695,540% with it’s members including:

Christopher Wool
Mike Kelley
Martin Kippenberger

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