Artprice: Annual Art Market Report for 2009 [03/11/2010]
According to thierry Ehrmann, founder and CEO of Artprice: "2009 will go down in history as a year when the art market shed its excesses and narrowly avoided a complete meltdown". A drastic purge of the Contemporary art segment, slashed revenue figures and renewed interest in Old Masters and Modern art…
“but also a strong signal that the art market has reached a stage of maturity that allows its to fluctuate at the same speed as economic indicators and financial assets"; "the key point to remember about 2009 is this historical and sociological change in the art market”.
Artprice publishes its exclusive art market report distributed to over 6,300 media organisations and international institutions every year. Based on roughly 5.4 million auction results from approximately 3,600 auctioneers, the annual report "Art Market Trends in 2009" contains 44-pages micro- and macro-economic analyses focusing on individual sales and general price evolutions in all segments of the market. Edited by ArtMarketInsight (Artprice’s press agency) in collaboration with Artprice’s Econometrics team, the report also contains a number of original rankings such as the TOP 500 artists by sales revenue and the year’s 100 highest hammer prices.
We are light-years away from the 1991 crisis when the art market was incapable of implementing crisis strategies. Artprice’s annual art market report analyses the major dislocations generated by the bursting of the speculative bubble in the art market and provides an insight into how the market’s key players individually and collectively worked to prevent a worst-case scenario.
Download the entire document in PDF format (free of charge)
http://imgpublic.artprice.com/pdf/trends2009_en.pdf
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